Evolent Health, Inc. (NYSE:EVH) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP raised its position in Evolent Health, Inc. (NYSE:EVH - Free Report) by 19.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,897,443 shares of the technology company's stock after acquiring an additional 466,225 shares during the period. Dimensional Fund Advisors LP owned approximately 2.49% of Evolent Health worth $32,595,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in EVH. Salem Investment Counselors Inc. lifted its position 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 valued at $3,939,000 after purchasing an additional 121,369 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Evolent Health by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company's stock valued at $1,469,000 after buying an additional 8,552 shares during the period. Harbor Capital Advisors Inc. lifted its holdings in shares of Evolent Health by 90.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company's stock valued at $9,036,000 after buying an additional 380,790 shares during the period. Franklin Resources Inc. boosted its stake in shares of Evolent Health by 40.8% in the third quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company's stock valued at $24,682,000 after buying an additional 263,815 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Evolent Health during the fourth quarter worth $2,542,000.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

Several brokerages have commented on EVH. Piper Sandler restated an "overweight" rating and set a $16.00 target price (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Oppenheimer decreased their price objective on shares of Evolent Health from $28.00 to $18.00 and set an "outperform" rating on the stock in a report on Friday, January 24th. JMP Securities reaffirmed a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a report on Monday, April 28th. Citigroup decreased their price target on Evolent Health from $21.00 to $18.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. One equities research 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.com, Evolent Health currently has an average rating of "Buy" and a consensus price target of $17.79.

Evolent Health Trading Down 16.0 %

Shares of Evolent Health stock traded down $1.73 during mid-day trading on Friday, hitting $9.05. 5,422,608 shares of the stock were exchanged, compared to its average volume of 2,391,408. The company has a 50-day simple moving average of $9.60 and a 200 day simple moving average of $11.72. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of -11.04 and a beta of 1.04. Evolent Health, Inc. has a twelve month low of $8.35 and a twelve month high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last released its earnings results on Thursday, May 8th. The technology company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.02). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The firm had revenue of $483.65 million during the quarter, compared to analysts' expectations of $460.15 million. During the same period in the previous year, the firm posted $0.34 earnings per share. The firm's revenue was down 24.4% on a year-over-year basis. Research analysts forecast that Evolent Health, Inc. will post 0.08 EPS for the current year.

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.