8 Knots Management LLC Lowers Position in Evolent Health, Inc $EVH

8 Knots Management LLC trimmed its holdings in shares of Evolent Health, Inc (NYSE:EVH) by 39.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,768,113 shares of the technology company’s stock after selling 1,145,022 shares during the quarter. Evolent Health comprises about 1.7% of 8 Knots Management LLC’s holdings, making the stock its 14th largest position. 8 Knots Management LLC owned 1.50% of Evolent Health worth $14,958,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Strs Ohio bought a new position in shares of Evolent Health in the 1st quarter worth $47,000. Headlands Technologies LLC purchased a new stake in shares of Evolent Health during the 2nd quarter valued at $58,000. Pilgrim Partners Asia Pte Ltd bought a new stake in shares of Evolent Health during the 3rd quarter worth $51,000. State of Alaska Department of Revenue bought a new stake in shares of Evolent Health during the 3rd quarter worth $56,000. Finally, Keybank National Association OH purchased a new position in Evolent Health in the third quarter worth $85,000.

Analysts Set New Price Targets

EVH has been the topic of a number of research analyst reports. Truist Financial reduced their target price on Evolent Health from $10.00 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. BMO Capital Markets reaffirmed an “outperform” rating and set a $3.50 price target on shares of Evolent Health in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Evolent Health in a report on Monday, December 29th. Piper Sandler set a $6.00 price objective on Evolent Health in a research report on Tuesday, December 2nd. Finally, Wall Street Zen raised Evolent Health from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.04.

Evolent Health Stock Down 2.5%

EVH opened at $2.99 on Friday. The company has a market cap of $333.25 million, a P/E ratio of -0.58 and a beta of 0.24. The business’s 50-day moving average price is $3.33 and its 200-day moving average price is $5.36. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 2.34. Evolent Health, Inc has a 12 month low of $2.50 and a 12 month high of $12.06.

Evolent Health (NYSE:EVH) last released its earnings results on Tuesday, February 24th. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Evolent Health had a positive return on equity of 1.49% and a negative net margin of 28.49%.The company had revenue of $468.72 million during the quarter, compared to analyst estimates of $468.48 million. During the same quarter in the previous year, the company posted ($0.02) EPS. Evolent Health’s revenue for the quarter was down 27.5% on a year-over-year basis. On average, equities analysts expect that Evolent Health, Inc will post 0.08 EPS for the current year.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.