Truist Financial Corp Sells 463 Shares of Evolent Health, Inc. (NYSE:EVH)

Truist Financial Corp lessened its position in shares of Evolent Health, Inc. (NYSE:EVH) by 0.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 85,226 shares of the technology company’s stock after selling 463 shares during the period. Truist Financial Corp’s holdings in Evolent Health were worth $2,815,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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 acquiring an additional 274,288 shares in the last quarter. Wellington Management Group LLP grew its position in Evolent Health by 11.9% in the third quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock valued at $115,433,000 after purchasing an additional 449,664 shares in the last quarter. Rock Springs Capital Management LP increased its stake in 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 valued at $105,244,000 after buying an additional 61,500 shares during the last quarter. RA Capital Management L.P. bought a new stake in Evolent Health during the 3rd quarter worth about $74,520,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Evolent Health by 8.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,655,609 shares of the technology company’s stock worth $45,082,000 after buying an additional 133,038 shares during the last quarter.

Evolent Health Price Performance

Shares of NYSE EVH opened at $27.62 on Wednesday. The business’s 50 day moving average is $31.15 and its 200-day moving average is $30.29. The firm has a market cap of $3.19 billion, a P/E ratio of -21.75 and a beta of 1.57. Evolent Health, Inc. has a 1-year low of $23.33 and a 1-year high of $35.83. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

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

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Canaccord Genuity Group lowered their target price on Evolent Health from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. William Blair reaffirmed an “outperform” rating on shares of Evolent Health in a research report on Tuesday, January 9th. Oppenheimer assumed coverage on Evolent Health in a report on Friday, March 1st. They issued an “outperform” rating and a $45.00 price objective for the company. JMP Securities boosted their target price on shares of Evolent Health from $37.00 to $38.00 and gave the stock a “market outperform” rating in a report on Friday, February 23rd. Finally, Citigroup began coverage on shares of Evolent Health in a research note on Monday, April 22nd. They issued a “buy” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Evolent Health presently has a consensus rating of “Moderate Buy” and an average target price of $42.70.

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.