Bridgewater Associates LP Lowers Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Bridgewater Associates LP reduced its stake in Evolent Health, Inc. (NYSE:EVH) by 70.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,118 shares of the technology company’s stock after selling 51,380 shares during the quarter. Bridgewater Associates LP’s holdings in Evolent Health were worth $238,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EVH. Salem Investment Counselors Inc. boosted its holdings in Evolent Health by 53.0% in the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock worth $3,939,000 after acquiring an additional 121,369 shares in the last quarter. Nordea Investment Management AB boosted its stake in Evolent Health by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after purchasing an additional 8,552 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in Evolent Health by 90.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock valued at $9,036,000 after purchasing an additional 380,790 shares during the last quarter. Franklin Resources Inc. grew its position in Evolent Health by 40.8% during the 3rd quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company’s stock valued at $24,682,000 after purchasing an additional 263,815 shares during the last quarter. Finally, Barclays PLC raised its holdings in Evolent Health by 181.3% in the third quarter. Barclays PLC now owns 273,776 shares of the technology company’s stock worth $7,742,000 after buying an additional 176,445 shares during the last quarter.

Insiders Place Their Bets

In other news, Director Diane Holder bought 2,735 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were bought at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the purchase, the director now owns 70,584 shares in the company, valued at $658,548.72. This represents a 4.03 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Seth Blackley purchased 55,225 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $9.01 per share, with a total value of $497,577.25. Following the purchase, the chief executive officer now directly owns 762,217 shares in the company, valued at $6,867,575.17. This represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 74,000 shares of company stock worth $666,315 over the last three months. 1.60% of the stock is currently owned by company insiders.

Evolent Health Price Performance

NYSE EVH opened at $8.95 on Monday. The business’s fifty day moving average is $9.64 and its 200 day moving average is $13.10. Evolent Health, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $33.63. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $1.04 billion, a PE ratio of -10.92 and a beta of 1.20.

Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share 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 analysts’ expectations of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. Sell-side analysts predict that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Analyst Ratings Changes

EVH has been the topic of a number of recent analyst reports. Citigroup cut their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Truist Financial reduced their target price on Evolent Health from $15.00 to $14.00 and set a “buy” rating for the company in a report on Thursday, April 10th. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price target (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Needham & Company LLC reiterated a “buy” rating and issued a $15.00 price objective on shares of Evolent Health in a report on Friday, February 21st. Finally, Stephens lowered their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Evolent Health has an average rating of “Buy” and an average price target of $17.64.

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.