Farallon Capital Management LLC Sells 625,000 Shares of Evolent Health, Inc. (NYSE:EVH)

Farallon Capital Management LLC reduced its position in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 97.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,000 shares of the technology company's stock after selling 625,000 shares during the period. Farallon Capital Management LLC's holdings in Evolent Health were worth $158,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Cadian Capital Management LP bought a new stake in shares of Evolent Health during the 4th quarter worth $58,781,000. Engaged Capital LLC lifted its holdings in shares of Evolent Health by 35.5% during the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock worth $60,804,000 after acquiring an additional 1,415,300 shares during the last quarter. Boston Partners lifted its holdings in shares of Evolent Health by 92.0% during the 4th quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock worth $27,097,000 after acquiring an additional 1,171,304 shares during the last quarter. Norges Bank bought a new stake in shares of Evolent Health during the 4th quarter worth $12,519,000. Finally, Barclays PLC lifted its holdings in shares of Evolent Health by 234.4% during the 4th quarter. Barclays PLC now owns 915,422 shares of the technology company's stock worth $10,298,000 after acquiring an additional 641,646 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group lifted their price objective on shares of Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 9th. JMP Securities reaffirmed a "market outperform" rating and set a $13.00 price objective on shares of Evolent Health in a report on Monday, April 28th. Truist Financial lowered 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 lowered their price target on shares of Evolent Health from $28.00 to $18.00 and set an "outperform" rating for the company in a research note on Friday, January 24th. Finally, Canaccord Genuity Group lowered their price target on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating for the company in a research note on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $17.79.

Insider Activity at Evolent Health

In other Evolent Health news, Director Brendan B. Springstubb acquired 5,000 shares of the business's stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $8.75 per share, for a total transaction of $43,750.00. Following the completion of the acquisition, the director now owns 11,842 shares in the company, valued at $103,617.50. This trade represents a 73.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Daniel Joseph Mccarthy bought 11,040 shares of the company's stock in a transaction dated Thursday, March 6th. The stock was purchased at an average price of $9.01 per share, for a total transaction of $99,470.40. Following the purchase, the president now owns 389,004 shares of the company's stock, valued at approximately $3,504,926.04. This represents a 2.92% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 74,000 shares of company stock worth $666,315 over the last 90 days. 1.40% of the stock is owned by company insiders.

Evolent Health Trading Down 2.9%

Shares of NYSE:EVH traded down $0.27 during midday trading on Wednesday, hitting $9.00. 1,248,891 shares of the stock traded hands, compared to its average volume of 2,395,042. The stock has a market capitalization of $1.05 billion, a PE ratio of -10.98 and a beta of 1.04. The business's 50 day moving average is $9.62 and its two-hundred day moving average is $11.35. 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 one year low of $8.35 and a one year high of $33.63.

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

Evolent Health 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.