Adage Capital Partners GP L.L.C. Has $9.50 Million Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Adage Capital Partners GP L.L.C. cut its stake in Evolent Health, Inc. (NYSE:EVH - Free Report) by 40.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 844,504 shares of the technology company's stock after selling 575,883 shares during the period. Adage Capital Partners GP L.L.C. owned about 0.72% of Evolent Health worth $9,501,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of EVH. Pilgrim Partners Asia Pte Ltd purchased a new stake in Evolent Health during the 4th quarter worth about $26,000. R Squared Ltd purchased a new stake in Evolent Health during the fourth quarter worth approximately $31,000. AlphaQuest LLC boosted its holdings in Evolent Health by 21,650.0% in the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock valued at $34,000 after purchasing an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock worth $56,000 after purchasing an additional 2,358 shares in the last quarter. Finally, AlphaCentric Advisors LLC purchased a new stake in shares of Evolent Health during the 4th quarter worth approximately $61,000.

Insider Buying and Selling at Evolent Health

In other news, Director Diane Holder acquired 2,735 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The stock was acquired at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the completion of the acquisition, the director now owns 70,584 shares in the company, valued at approximately $658,548.72. The trade was a 4.03 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Seth Blackley purchased 55,225 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The shares were purchased at an average price of $9.01 per share, with a total value of $497,577.25. Following the completion of the acquisition, the chief executive officer now owns 762,217 shares in the company, valued at $6,867,575.17. The trade was a 7.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 74,000 shares of company stock valued at $666,315. 1.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on EVH. Stephens reduced their target price on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating for the company in a report on Tuesday, January 21st. Canaccord Genuity Group cut their target price on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Truist Financial decreased their price target on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Oppenheimer reduced their target price 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, Needham & Company LLC reissued a "buy" rating and set a $15.00 price target on shares of Evolent Health in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Evolent Health presently has an average rating of "Buy" and a consensus target price of $17.71.

Evolent Health Stock Performance

EVH stock traded up $0.11 during trading on Thursday, reaching $9.97. 1,111,898 shares of the company's stock were exchanged, compared to its average volume of 2,364,483. The firm has a market cap of $1.16 billion, a PE ratio of -12.15 and a beta of 1.20. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. Evolent Health, Inc. has a 1-year low of $8.35 and a 1-year high of $33.63. The company's fifty day moving average price is $9.47 and its 200-day moving average price is $12.22.

Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The company had revenue of $646.54 million during the quarter, compared to the consensus estimate of $650.92 million. On average, research analysts expect 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.