Bryce Point Capital LLC Invests $883,000 in Evolent Health, Inc (NYSE:EVH)

Key Points

• Bryce Point Capital LLC has acquired 94,461 shares of Evolent Health, Inc (NYSE:EVH), valued at approximately $883,000, representing a 0.08% ownership in the company as of the last reporting period.
• Evolent Health's quarterly earnings report showed a loss per share of $0.06, missing analysts' expectations, despite a revenue of $483.65 million exceeding forecasts.
• Analysts maintain a positive outlook on Evolent Health, with several firms boosting their price targets and an average target of $17.93, while the stock currently trades around $9.89.

Bryce Point Capital LLC purchased a new position in Evolent Health, Inc (NYSE:EVH - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 94,461 shares of the technology company's stock, valued at approximately $883,000. Bryce Point Capital LLC owned 0.08% of Evolent Health as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pilgrim Partners Asia Pte Ltd purchased a new stake in Evolent Health in the fourth quarter worth $26,000. Signaturefd LLC boosted its holdings in Evolent Health by 400.6% in the first quarter. Signaturefd LLC now owns 7,043 shares of the technology company's stock worth $67,000 after acquiring an additional 5,636 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Evolent Health by 5,036.4% in the first quarter. GAMMA Investing LLC now owns 9,451 shares of the technology company's stock worth $90,000 after acquiring an additional 9,267 shares in the last quarter. State of Wyoming bought a new stake in Evolent Health in the fourth quarter worth $95,000. Finally, Unified Investment Management bought a new stake in Evolent Health in the first quarter worth $104,000.

Evolent Health Stock Performance

Shares of NYSE EVH traded up $0.29 during trading on Thursday, hitting $10.19. The company had a trading volume of 910,244 shares, compared to its average volume of 2,539,642. The stock has a 50 day simple moving average of $9.62 and a 200 day simple moving average of $9.69. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.98 and a current ratio of 0.98. Evolent Health, Inc has a 12 month low of $7.06 and a 12 month high of $33.63. The firm has a market capitalization of $1.20 billion, a P/E ratio of -8.28 and a beta of 1.01.

Evolent Health (NYSE:EVH - Get Free Report) last released its 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 positive return on equity of 3.64% and a negative net margin of 4.54%. The business 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 business posted $0.34 EPS. The business's revenue for the quarter was down 24.4% compared to the same quarter last year. As a group, analysts anticipate that Evolent Health, Inc will post 0.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Needham & Company LLC reissued a "buy" rating and issued a $15.00 target price on shares of Evolent Health in a report on Tuesday, May 13th. Truist Financial upped their price target on Evolent Health from $14.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, July 17th. UBS Group lifted their target price on shares of Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a research report on Friday, June 20th. One 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and an average price target of $17.93.

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.