Rock Springs Capital Management LP Sells 10,000 Shares of Evolent Health, Inc. (NYSE:EVH)

Rock Springs Capital Management LP trimmed its position in shares of Evolent Health, Inc. (NYSE:EVH) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,060,000 shares of the technology company’s stock after selling 10,000 shares during the period. Rock Springs Capital Management LP owned 1.77% of Evolent Health worth $23,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC lifted its position in shares of Evolent Health by 181.3% in the third quarter. Barclays PLC now owns 273,776 shares of the technology company’s stock valued at $7,742,000 after buying an additional 176,445 shares during the last quarter. Franklin Resources Inc. raised its stake in Evolent Health by 40.8% in the 3rd quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company’s stock valued at $24,682,000 after acquiring an additional 263,815 shares during the period. Principal Financial Group Inc. lifted its holdings in Evolent Health by 268.0% during the 3rd quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock valued at $1,623,000 after purchasing an additional 41,788 shares during the last quarter. Nordea Investment Management AB boosted its position in Evolent Health by 7.0% during the fourth 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 during the period. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Evolent Health by 90.1% in the fourth 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.

Insider Buying and Selling at Evolent Health

In related news, President Daniel Joseph Mccarthy acquired 11,040 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average price of $9.01 per share, with a total value of $99,470.40. Following the purchase, the president now directly owns 389,004 shares in the company, valued at approximately $3,504,926.04. This trade represents a 2.92 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Diane Holder bought 2,735 shares of the firm’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the purchase, the director now owns 70,584 shares of the company’s stock, valued at approximately $658,548.72. The trade was a 4.03 % increase in their position. The disclosure for this purchase can be found here. Insiders have acquired a total of 74,000 shares of company stock worth $666,315 over the last 90 days. Insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Stephens cut their target price on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. UBS Group cut their price objective on shares of Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. JPMorgan Chase & Co. decreased their target price on Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Royal Bank of Canada lowered their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 14th. Finally, Truist Financial reduced their price target on Evolent Health from $15.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $17.64.

Evolent Health Stock Down 3.0 %

EVH stock opened at $8.95 on Monday. Evolent Health, Inc. has a 52 week low of $8.35 and a 52 week high of $33.63. The business has a 50-day simple moving average of $9.64 and a 200 day simple moving average of $13.10. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.04 billion, a PE ratio of -10.92 and a beta of 1.20.

Evolent Health (NYSE:EVH) last issued its earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.35). The firm had revenue of $646.54 million during 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%. Sell-side analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.

About Evolent Health

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.