Hsbc Holdings PLC Has $724,000 Position in Evolent Health, Inc. (NYSE:EVH)

Hsbc Holdings PLC raised its stake in shares of Evolent Health, Inc. (NYSE:EVH – Get Rating) by 77.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,784 shares of the technology company’s stock after buying an additional 8,616 shares during the period. Hsbc Holdings PLC’s holdings in Evolent Health were worth $724,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. First Republic Investment Management Inc. boosted its stake in shares of Evolent Health by 1.6% during the 1st quarter. First Republic Investment Management Inc. now owns 22,005 shares of the technology company’s stock valued at $711,000 after buying an additional 355 shares during the period. Ascent Group LLC lifted its stake in shares of Evolent Health by 3.4% in the 2nd quarter. Ascent Group LLC now owns 16,500 shares of the technology company’s stock valued at $561,000 after purchasing an additional 550 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Evolent Health by 7.9% in the 2nd quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,200 shares of the technology company’s stock valued at $252,000 after purchasing an additional 600 shares during the last quarter. Polar Capital Holdings Plc lifted its stake in shares of Evolent Health by 2.1% in the 1st quarter. Polar Capital Holdings Plc now owns 40,008 shares of the technology company’s stock valued at $1,292,000 after purchasing an additional 820 shares during the last quarter. Finally, Captrust Financial Advisors lifted its stake in shares of Evolent Health by 254.4% in the 2nd quarter. Captrust Financial Advisors now owns 1,758 shares of the technology company’s stock valued at $54,000 after purchasing an additional 1,262 shares during the last quarter. Institutional investors and hedge funds own 93.33% of the company’s stock.

Analyst Ratings Changes

EVH has been the subject of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $44.00 price objective on shares of Evolent Health in a research note on Thursday, February 23rd. Truist Financial reduced their price objective on shares of Evolent Health to $32.00 in a research note on Thursday, November 17th. Piper Sandler lifted their target price on shares of Evolent Health from $44.00 to $51.00 in a report on Friday, January 6th. Cowen lifted their target price on shares of Evolent Health from $57.00 to $59.00 and gave the stock an “outperform” rating in a report on Monday, January 30th. Finally, BTIG Research lifted their target price on shares of Evolent Health from $40.00 to $45.00 in a report on Thursday, February 23rd. One analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Evolent Health presently has an average rating of “Moderate Buy” and a consensus target price of $47.70.

Insider Activity at Evolent Health

In related news, Director Frank J. Williams sold 110,000 shares of the company’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $34.98, for a total value of $3,847,800.00. Following the sale, the director now owns 626,479 shares of the company’s stock, valued at $21,914,235.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 4.20% of the stock is currently owned by insiders.

Evolent Health Stock Performance

NYSE:EVH opened at $35.80 on Friday. The firm’s 50-day moving average is $31.17 and its 200-day moving average is $31.48. Evolent Health, Inc. has a 52-week low of $21.83 and a 52-week high of $39.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.03 and a current ratio of 1.10. The company has a market cap of $3.62 billion, a price-to-earnings ratio of -178.99 and a beta of 1.56.

Evolent Health (NYSE:EVH – Get Rating) last posted its quarterly earnings data on Wednesday, February 22nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.02). Evolent Health had a positive return on equity of 7.50% and a negative net margin of 1.42%. The company had revenue of $382.43 million for the quarter, compared to the consensus estimate of $373.68 million. Equities research analysts anticipate that Evolent Health, Inc. will post 0.23 earnings per share for the current year.

Evolent Health Profile

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Evolent Health, Inc engages in the provision of health care delivery and payment services. It deals with population health management, health plan and third party administration, network performance and pharmacy benefit management, risk adjustment, analytics and performance improvement, and technology and electronic medical record integration.