Arizona State Retirement System Sells 402 Shares of Evolent Health, Inc. (NYSE:EVH)

Arizona State Retirement System trimmed its holdings in shares of Evolent Health, Inc. (NYSE:EVH) by 1.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,074 shares of the technology company’s stock after selling 402 shares during the quarter. Arizona State Retirement System’s holdings in Evolent Health were worth $993,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Evolent Health by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 10,594,640 shares of the technology company’s stock worth $288,492,000 after buying an additional 274,288 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Evolent Health by 9.6% in the 2nd quarter. BlackRock Inc. now owns 7,595,916 shares of the technology company’s stock worth $230,156,000 after purchasing an additional 667,658 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Evolent Health by 11.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock worth $115,433,000 after purchasing an additional 449,664 shares in the last quarter. Rock Springs Capital Management LP lifted its holdings in shares of Evolent Health by 1.6% in the 3rd quarter. Rock Springs Capital Management LP now owns 3,865,000 shares of the technology company’s stock worth $105,244,000 after purchasing an additional 61,500 shares in the last quarter. Finally, RA Capital Management L.P. bought a new position in shares of Evolent Health in the 3rd quarter worth $74,520,000.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. cut their target price on Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Barclays initiated coverage on Evolent Health in a research note on Wednesday, January 3rd. They set an “overweight” rating and a $39.00 price objective on the stock. Oppenheimer initiated coverage on Evolent Health in a research note on Friday, March 1st. They set an “outperform” rating and a $45.00 price objective on the stock. William Blair restated an “outperform” rating on shares of Evolent Health in a research note on Tuesday, January 9th. Finally, Canaccord Genuity Group decreased their target price on Evolent Health from $45.00 to $44.00 and set a “buy” rating for the company in a research report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, Evolent Health has an average rating of “Moderate Buy” and an average price target of $43.00.

Evolent Health Trading Up 0.5 %

Shares of EVH opened at $30.29 on Tuesday. The business has a 50-day moving average of $32.01 and a 200 day moving average of $30.15. Evolent Health, Inc. has a fifty-two week low of $23.33 and a fifty-two week high of $36.70. The firm has a market cap of $3.50 billion, a P/E ratio of -23.85 and a beta of 1.54. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, February 22nd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.13. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. The company had revenue of $556.06 million during the quarter, compared to analyst estimates of $541.87 million. As a group, research analysts forecast that Evolent Health, Inc. will post 0.87 EPS for the current year.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.