Gabelli Funds LLC lifted its stake in Evolent Health (NYSE:EVH) by 4.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 783,500 shares of the technology company’s stock after acquiring an additional 30,500 shares during the period. Gabelli Funds LLC’s holdings in Evolent Health were worth $11,165,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in EVH. Bank of New York Mellon Corp grew its stake in shares of Evolent Health by 508.3% in the fourth quarter. Bank of New York Mellon Corp now owns 3,439,621 shares of the technology company’s stock worth $42,307,000 after acquiring an additional 2,874,211 shares during the last quarter. Standard Life Aberdeen plc acquired a new stake in shares of Evolent Health in the fourth quarter worth $13,380,000. Millennium Management LLC grew its stake in shares of Evolent Health by 61.6% in the fourth quarter. Millennium Management LLC now owns 2,816,786 shares of the technology company’s stock worth $34,646,000 after acquiring an additional 1,073,282 shares during the last quarter. Carillon Tower Advisers Inc. acquired a new stake in shares of Evolent Health in the fourth quarter worth $11,630,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Evolent Health by 603.1% in the third quarter. Dimensional Fund Advisors LP now owns 807,752 shares of the technology company’s stock worth $14,378,000 after acquiring an additional 692,872 shares during the last quarter.
Several research analysts recently commented on the company. Zacks Investment Research cut Evolent Health from a “buy” rating to a “hold” rating in a research report on Tuesday, May 15th. ValuEngine raised Evolent Health from a “sell” rating to a “hold” rating in a research report on Friday, May 11th. Canaccord Genuity reduced their target price on Evolent Health from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, February 28th. Wells Fargo & Co reduced their target price on Evolent Health from $27.00 to $20.00 and set an “outperform” rating for the company in a research report on Wednesday, February 28th. Finally, Jefferies Group set a $22.00 target price on Evolent Health and gave the stock a “buy” rating in a research report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $24.90.
In other Evolent Health news, President Seth Blackley sold 64,398 shares of Evolent Health stock in a transaction on Thursday, May 10th. The stock was sold at an average price of $17.63, for a total transaction of $1,135,336.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Unitedhealth Group Inc sold 3,040,000 shares of Evolent Health stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $13.70, for a total value of $41,648,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 3,221,660 shares of company stock valued at $44,868,770. Company insiders own 4.82% of the company’s stock.
Shares of NYSE EVH opened at $19.95 on Friday. Evolent Health has a 52-week low of $10.30 and a 52-week high of $27.50. The company has a quick ratio of 2.88, a current ratio of 2.88 and a debt-to-equity ratio of 0.12.
Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Wednesday, May 9th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.06. The company had revenue of $139.70 million during the quarter, compared to analysts’ expectations of $140.89 million. Evolent Health had a negative return on equity of 2.16% and a negative net margin of 12.11%. The business’s revenue was up 31.5% on a year-over-year basis. During the same period last year, the business earned ($0.14) earnings per share. research analysts forecast that Evolent Health will post -0.33 EPS for the current fiscal year.
Evolent Health Company Profile
Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.
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