Evolent Health, Inc $EVH Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its position in shares of Evolent Health, Inc (NYSE:EVH) by 14.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 1,162,797 shares of the technology company’s stock after selling 202,866 shares during the quarter. Bank of New York Mellon Corp owned 0.99% of Evolent Health worth $13,093,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of EVH. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Evolent Health by 18.6% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,498 shares of the technology company’s stock valued at $346,000 after buying an additional 5,712 shares in the last quarter. Brighton Jones LLC acquired a new stake in Evolent Health in the 4th quarter valued at about $3,927,000. Russell Investments Group Ltd. boosted its position in shares of Evolent Health by 28.6% during the 1st quarter. Russell Investments Group Ltd. now owns 98,105 shares of the technology company’s stock valued at $929,000 after purchasing an additional 21,826 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Evolent Health in the 2nd quarter worth approximately $171,000. Finally, Northern Trust Corp grew its stake in shares of Evolent Health by 0.7% in the 1st quarter. Northern Trust Corp now owns 1,203,501 shares of the technology company’s stock worth $11,397,000 after purchasing an additional 8,637 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on EVH shares. Piper Sandler lifted their price target on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a research report on Thursday, August 28th. Canaccord Genuity Group reduced their price objective on Evolent Health from $16.00 to $9.00 and set a “buy” rating for the company in a research note on Friday, November 14th. BTIG Research decreased their target price on Evolent Health from $20.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 7th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Evolent Health in a research report on Wednesday, October 8th. Finally, Oppenheimer decreased their price target on Evolent Health from $18.00 to $12.00 and set an “outperform” rating for the company in a research report on Wednesday, November 12th. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.50.

Evolent Health Trading Up 2.7%

Shares of NYSE EVH opened at $3.97 on Wednesday. Evolent Health, Inc has a one year low of $3.66 and a one year high of $13.61. The firm has a market capitalization of $443.50 million, a PE ratio of -2.47 and a beta of 0.58. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The business has a 50-day moving average price of $7.42 and a two-hundred day moving average price of $8.78.

Evolent Health (NYSE:EVH) last issued its earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share for the quarter. The company had revenue of $427.70 million for the quarter. Evolent Health had a positive return on equity of 1.83% and a negative net margin of 5.94%. As a group, analysts predict that Evolent Health, Inc will post 0.08 earnings per share 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.