Schwab Charles Investment Management Inc. Has $4.77 Million Holdings in Evolent Health, Inc (EVH)
Schwab Charles Investment Management Inc. raised its stake in Evolent Health, Inc (NYSE:EVH) by 197.5% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 187,979 shares of the technology company’s stock after purchasing an additional 124,799 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.33% of Evolent Health worth $4,766,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Swiss National Bank grew its stake in Evolent Health by 51.7% in the first quarter. Swiss National Bank now owns 61,000 shares of the technology company’s stock valued at $1,360,000 after purchasing an additional 20,800 shares in the last quarter. Fox Run Management L.L.C. bought a new position in Evolent Health in the second quarter valued at approximately $363,000. US Bancorp DE grew 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 purchasing an additional 19 shares in the last quarter. Wells Fargo & Company MN grew its stake in Evolent Health by 475.1% in the first quarter. Wells Fargo & Company MN now owns 91,658 shares of the technology company’s stock valued at $2,044,000 after purchasing an additional 75,720 shares in the last quarter. Finally, FMR LLC grew its stake in Evolent Health by 102.1% in the first quarter. FMR LLC now owns 4,531,523 shares of the technology company’s stock valued at $101,053,000 after purchasing an additional 2,289,227 shares in the last quarter. Hedge funds and other institutional investors own 82.51% of the company’s stock.
Evolent Health, Inc (NYSE EVH) opened at 16.50 on Friday. Evolent Health, Inc has a 52 week low of $14.50 and a 52 week high of $24.20. The company’s market capitalization is $1.09 billion. The stock’s 50 day moving average price is $17.30 and its 200 day moving average price is $17.30.
Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Monday, August 7th. The technology company reported ($0.13) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.13). The company had revenue of $107.30 million during the quarter, compared to the consensus estimate of $104.45 million. Evolent Health had a negative return on equity of 6.44% and a negative net margin of 17.57%. Evolent Health’s revenue was up 89.9% on a year-over-year basis. During the same period last year, the business posted ($0.20) earnings per share. Analysts anticipate that Evolent Health, Inc will post ($0.40) earnings per share for the current year.
A number of research firms have weighed in on EVH. BidaskClub downgraded Evolent Health from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. SunTrust Banks, Inc. restated a “buy” rating and issued a $30.00 price target on shares of Evolent Health in a research note on Wednesday, September 20th. Zacks Investment Research upgraded Evolent Health from a “sell” rating to a “hold” rating in a research note on Monday, October 9th. Leerink Swann restated an “outperform” rating and issued a $32.00 price target (up from $30.00) on shares of Evolent Health in a research note on Monday, June 19th. Finally, Robert W. Baird restated an “outperform” rating and issued a $25.00 price target (down from $35.00) on shares of Evolent Health in a research note on Tuesday, September 26th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Evolent Health currently has an average rating of “Buy” and an average price target of $28.45.
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In related news, CEO Steve Wigginton sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $24.64, for a total transaction of $147,840.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Frank J. Williams sold 16,300 shares of the stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $23.73, for a total value of $386,799.00. The disclosure for this sale can be found here. Insiders have sold 62,840 shares of company stock valued at $1,588,679 over the last ninety days. 8.79% of the stock is currently owned by company insiders.
Evolent Health 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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