Edgestream Partners L.P. Invests $2.59 Million in Evolent Health, Inc $EVH

Edgestream Partners L.P. acquired a new stake in Evolent Health, Inc (NYSE:EVH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 229,781 shares of the technology company’s stock, valued at approximately $2,587,000. Edgestream Partners L.P. owned about 0.20% of Evolent Health at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EVH. Nisa Investment Advisors LLC lifted its holdings in shares of Evolent Health by 88.0% in the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after purchasing an additional 1,194 shares in the last quarter. Parallel Advisors LLC lifted its stake in Evolent Health by 82.6% in the 2nd quarter. Parallel Advisors LLC now owns 3,487 shares of the technology company’s stock valued at $39,000 after buying an additional 1,577 shares in the last quarter. Strs Ohio acquired a new stake in Evolent Health during the 1st quarter valued at $47,000. US Bancorp DE grew its holdings in Evolent Health by 291.0% during the 1st quarter. US Bancorp DE now owns 5,153 shares of the technology company’s stock valued at $49,000 after buying an additional 3,835 shares during the last quarter. Finally, Cetera Trust Company N.A raised its holdings in shares of Evolent Health by 47.3% in the second quarter. Cetera Trust Company N.A now owns 9,725 shares of the technology company’s stock worth $110,000 after acquiring an additional 3,125 shares during the last quarter.

Wall Street Analysts Forecast Growth

EVH has been the topic of a number of analyst reports. Truist Financial decreased their price objective on Evolent Health from $16.00 to $10.00 and set a “buy” rating on the stock in a research note on Monday, November 10th. Piper Sandler set a $6.00 price target on shares of Evolent Health in a report on Tuesday. Stephens raised shares of Evolent Health from an “equal weight” rating to an “overweight” rating and set a $7.00 price objective for the company in a research report on Thursday, November 13th. Zacks Research upgraded shares of Evolent Health from a “strong sell” rating to a “hold” rating in a research report on Monday, November 10th. Finally, BMO Capital Markets initiated coverage on Evolent Health in a report on Thursday, November 13th. They issued an “outperform” rating and a $7.00 price target for the company. Fourteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Evolent Health currently has an average rating of “Moderate Buy” and an average target price of $11.04.

Insider Buying and Selling

In other news, Director Brendan B. Springstubb acquired 10,000 shares of the business’s stock in a transaction dated Tuesday, November 18th. The shares were bought at an average cost of $3.82 per share, for a total transaction of $38,200.00. Following the acquisition, the director directly owned 58,821 shares in the company, valued at $224,696.22. This trade represents a 20.48% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.40% of the stock is owned by corporate insiders.

Evolent Health Stock Performance

NYSE:EVH opened at $4.00 on Friday. The company has a market cap of $445.84 million, a P/E ratio of -2.53 and a beta of 0.28. The firm’s 50 day moving average is $6.27 and its two-hundred day moving average is $8.33. Evolent Health, Inc has a fifty-two week low of $3.49 and a fifty-two week high of $12.98. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 1.25.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Tuesday, June 4th. The technology company reported $0.21 EPS for the quarter. The business had revenue of $427.70 million during the quarter. Evolent Health had a positive return on equity of 1.79% and a negative net margin of 6.24%. Analysts expect that Evolent Health, Inc will post 0.08 EPS for the current 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.