Evolent Health, Inc (EVH) Stake Increased by Vanguard Group Inc.
Vanguard Group Inc. raised its stake in Evolent Health, Inc (NYSE:EVH) by 18.1% during the first quarter, Holdings Channel reports. The fund owned 2,531,928 shares of the technology company’s stock after buying an additional 388,668 shares during the period. Vanguard Group Inc.’s holdings in Evolent Health were worth $56,462,000 as of its most recent SEC filing.
A number of other large investors have also added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Evolent Health by 0.3% in the first quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock valued at $126,000 after buying an additional 19 shares during the last quarter. American International Group Inc. boosted its stake in Evolent Health by 7.5% in the first quarter. American International Group Inc. now owns 9,403 shares of the technology company’s stock valued at $210,000 after buying an additional 653 shares during the last quarter. White Pine Investment CO boosted its stake in Evolent Health by 0.8% in the first quarter. White Pine Investment CO now owns 97,470 shares of the technology company’s stock valued at $2,174,000 after buying an additional 750 shares during the last quarter. Teachers Advisors LLC boosted its stake in Evolent Health by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 25,119 shares of the technology company’s stock valued at $372,000 after buying an additional 1,211 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Evolent Health by 286.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,744 shares of the technology company’s stock valued at $150,000 after buying an additional 5,000 shares during the last quarter. Hedge funds and other institutional investors own 73.16% of the company’s stock.
Shares of Evolent Health, Inc (EVH) traded down 1.76% on Wednesday, hitting $19.50. The stock had a trading volume of 3,075,915 shares. Evolent Health, Inc has a 1-year low of $14.50 and a 1-year high of $27.50. The company’s market capitalization is $1.13 billion. The firm has a 50-day moving average of $25.70 and a 200 day moving average of $22.65.
Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Monday, August 7th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.13). Evolent Health had a negative net margin of 17.57% and a negative return on equity of 6.51%. The company had revenue of $107.30 million during the quarter, compared to the consensus estimate of $104.45 million. During the same period in the previous year, the firm posted ($0.20) EPS. The firm’s revenue was up 89.9% compared to the same quarter last year. On average, equities analysts anticipate that Evolent Health, Inc will post ($0.42) earnings per share for the current fiscal year.
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Several research firms have weighed in on EVH. Robert W. Baird set a $35.00 target price on Evolent Health and gave the stock a “buy” rating in a research note on Tuesday. BidaskClub upgraded Evolent Health from a “buy” rating to a “strong-buy” rating in a research note on Thursday, July 13th. Leerink Swann restated an “outperform” rating and set a $32.00 target price (up from $30.00) on shares of Evolent Health in a research note on Monday, June 19th. TheStreet upgraded Evolent Health from a “d” rating to a “c-” rating in a research note on Monday, May 22nd. Finally, Zacks Investment Research upgraded Evolent Health from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research note on Wednesday, May 3rd. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. Evolent Health presently has a consensus rating of “Buy” and an average price target of $30.10.
In other Evolent Health news, major shareholder Upmc sold 2,333,333 shares of the business’s stock in a transaction on Friday, May 19th. The shares were sold at an average price of $24.30, for a total value of $56,699,991.90. Following the completion of the sale, the insider now directly owns 6,434,283 shares of the company’s stock, valued at $156,353,076.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Tpg Growth Ii Advisors, Inc. sold 4,279,325 shares of the business’s stock in a transaction on Wednesday, June 28th. The stock was sold at an average price of $25.87, for a total transaction of $110,706,137.75. The disclosure for this sale can be found here. Insiders have sold a total of 10,153,967 shares of company stock valued at $253,648,377 over the last ninety days. 8.79% of the stock is currently owned by insiders.
Evolent Health Company Profile
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
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