Ameriprise Financial Inc. reduced its stake in Evolent Health Inc (NYSE:EVH) by 48.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 86,004 shares of the technology company’s stock after selling 82,375 shares during the period. Ameriprise Financial Inc. owned approximately 0.13% of Evolent Health worth $1,531,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. ETF Managers Group LLC purchased a new stake in Evolent Health during the second quarter valued at about $102,000. BNP Paribas Arbitrage SA grew its stake in shares of Evolent Health by 815.4% during the second quarter. BNP Paribas Arbitrage SA now owns 4,751 shares of the technology company’s stock valued at $120,000 after buying an additional 4,232 shares during the last quarter. Royal Bank of Canada grew its stake in shares of Evolent Health by 1,197.8% during the second quarter. Royal Bank of Canada now owns 8,293 shares of the technology company’s stock valued at $210,000 after buying an additional 7,654 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Evolent Health during the third quarter valued at about $156,000. Finally, Legal & General Group Plc grew its stake in shares of Evolent Health by 122.4% during the second quarter. Legal & General Group Plc now owns 9,846 shares of the technology company’s stock valued at $250,000 after buying an additional 5,418 shares during the last quarter. Institutional investors own 95.57% of the company’s stock.
A number of research analysts have recently issued reports on the company. Cowen reaffirmed an “outperform” rating and set a $29.00 price objective (down from $33.00) on shares of Evolent Health in a research note on Friday, October 6th. Canaccord Genuity reaffirmed a “buy” rating and set a $32.00 price objective on shares of Evolent Health in a research report on Friday, October 6th. Zacks Investment Research raised Evolent Health from a “sell” rating to a “hold” rating in a research report on Monday, October 9th. Robert W. Baird reaffirmed a “buy” rating and set a $25.00 price objective on shares of Evolent Health in a research report on Wednesday, November 1st. Finally, Citigroup initiated coverage on Evolent Health in a research report on Thursday, January 4th. They set a “buy” rating on the stock. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $28.00.
Evolent Health Inc (NYSE EVH) traded down $0.07 during mid-day trading on Wednesday, hitting $14.10. 595,456 shares of the stock traded hands, compared to its average volume of 1,070,000. Evolent Health Inc has a 1 year low of $10.30 and a 1 year high of $27.50. The stock has a market capitalization of $1,090.00 and a price-to-earnings ratio of -12.37. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 0.11.
Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.04) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. Evolent Health had a negative net margin of 15.86% and a negative return on equity of 5.05%. The company had revenue of $107.90 million during the quarter, compared to analyst estimates of $104.49 million. During the same period in the previous year, the business earned ($0.26) EPS. The firm’s revenue for the quarter was up 79.2% on a year-over-year basis. analysts forecast that Evolent Health Inc will post -0.57 earnings per share for the current year.
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Evolent Health Company Profile
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
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