Rhumbline Advisers Raises Holdings in Evolent Health, Inc (NYSE:EVH)

Rhumbline Advisers lifted its holdings in Evolent Health, Inc (NYSE:EVH) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,918 shares of the technology company’s stock after buying an additional 3,527 shares during the quarter. Rhumbline Advisers owned 0.15% of Evolent Health worth $1,609,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Evolent Health by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company’s stock valued at $125,676,000 after acquiring an additional 259,781 shares during the period. Engaged Capital LLC increased its holdings in shares of Evolent Health by 35.5% in the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company’s stock valued at $60,804,000 after purchasing an additional 1,415,300 shares in the last quarter. Cadian Capital Management LP purchased a new position in shares of Evolent Health in the 4th quarter valued at about $58,781,000. Granahan Investment Management LLC lifted its stake in shares of Evolent Health by 5.2% in the fourth quarter. Granahan Investment Management LLC now owns 3,673,710 shares of the technology company’s stock valued at $41,329,000 after purchasing an additional 181,893 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Evolent Health by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,897,443 shares of the technology company’s stock worth $32,595,000 after buying an additional 466,225 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have weighed in on EVH shares. UBS Group upped their target price on shares of Evolent Health from $14.00 to $15.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Piper Sandler reissued an “overweight” rating and set a $16.00 price target (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. Truist Financial dropped their price objective on Evolent Health from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $15.00 price objective on shares of Evolent Health in a report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. decreased their target price on Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $17.79.

Evolent Health Stock Performance

Evolent Health stock opened at $8.48 on Wednesday. The company has a market capitalization of $995.55 million, a price-to-earnings ratio of -6.89 and a beta of 0.87. The stock has a fifty day moving average of $8.88 and a two-hundred day moving average of $9.87. Evolent Health, Inc has a fifty-two week low of $7.06 and a fifty-two week high of $33.63. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.98 and a current ratio of 0.98.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). The firm had revenue of $483.65 million during the quarter, compared to analysts’ expectations of $460.15 million. Evolent Health had a negative net margin of 4.54% and a positive return on equity of 3.64%. Evolent Health’s revenue for the quarter was down 24.4% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. On average, analysts anticipate that Evolent Health, Inc will post 0.08 EPS for the current fiscal year.

Evolent Health Profile

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.