Edgestream Partners L.P. Takes $2 Million Position in Evolent Health, Inc. (NYSE:EVH)

Edgestream Partners L.P. purchased a new stake in shares of Evolent Health, Inc. (NYSE:EVH) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 177,372 shares of the technology company’s stock, valued at approximately $1,995,000. Edgestream Partners L.P. owned approximately 0.15% of Evolent Health as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Prescott Group Capital Management L.L.C. purchased a new position in shares of Evolent Health during the 4th quarter valued at $1,713,000. Raymond James Financial Inc. purchased a new position in shares of Evolent Health during the 4th quarter valued at $2,542,000. WoodTrust Financial Corp grew its holdings in shares of Evolent Health by 28.7% during the 4th quarter. WoodTrust Financial Corp now owns 54,900 shares of the technology company’s stock valued at $618,000 after acquiring an additional 12,250 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Evolent Health by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 918,992 shares of the technology company’s stock valued at $10,339,000 after acquiring an additional 6,597 shares in the last quarter. Finally, Levin Capital Strategies L.P. purchased a new position in shares of Evolent Health during the 4th quarter valued at $664,000.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group decreased their price objective on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, January 16th. Truist Financial decreased their price objective on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. JPMorgan Chase & Co. decreased their price objective on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Oppenheimer decreased their price objective on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. Finally, Stephens decreased their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $17.79.

Evolent Health Stock Down 3.5 %

Evolent Health stock opened at $8.99 on Monday. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of -10.96 and a beta of 1.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Evolent Health, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $34.84. The firm has a fifty day moving average price of $10.37 and a two-hundred day moving average price of $17.61.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The company had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. As a group, analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Insider Activity

In related news, Director Brendan B. Springstubb acquired 5,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average price of $8.75 per share, with a total value of $43,750.00. Following the completion of the transaction, the director now owns 11,842 shares of the company’s stock, valued at approximately $103,617.50. This represents a 73.08 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Evolent Health Company 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.