Connor Clark & Lunn Investment Management Ltd. Buys 154,753 Shares of Evolent Health, Inc $EVH

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its stake in Evolent Health, acquiring an additional 154,753 shares, which represents a 219.1% growth in their investment during the 1st quarter.
• Evolent Health reported a net loss of ($0.10) EPS for the last quarter, falling short of expectations and showing a 31.3% year-over-year revenue decline.
• Research analysts have set new price targets for Evolent Health, with an average target of $17.93; several analysts maintained a "buy" rating on the stock.

Connor Clark & Lunn Investment Management Ltd. grew its stake in Evolent Health, Inc (NYSE:EVH - Free Report) by 219.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 225,370 shares of the technology company's stock after buying an additional 154,753 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.19% of Evolent Health worth $2,134,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Raymond James Financial Inc. acquired a new position in shares of Evolent Health in the fourth quarter valued at approximately $2,542,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Evolent Health by 18.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,498 shares of the technology company's stock valued at $346,000 after buying an additional 5,712 shares during the period. Brighton Jones LLC acquired a new position in shares of Evolent Health in the fourth quarter valued at approximately $3,927,000. Brevan Howard Capital Management LP acquired a new position in shares of Evolent Health in the fourth quarter valued at approximately $613,000. Finally, Engaged Capital LLC boosted its holdings in shares of Evolent Health by 35.5% in the fourth quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock valued at $60,804,000 after buying an additional 1,415,300 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently commented on EVH. JMP Securities restated a "market outperform" rating and set a $13.00 target price on shares of Evolent Health in a report on Friday, June 20th. Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of Evolent Health in a report on Tuesday, May 13th. UBS Group increased their target price 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. Finally, Truist Financial increased their target price on shares of Evolent Health from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $17.93.

Evolent Health Stock Performance

EVH stock traded up $0.1970 during trading hours on Tuesday, reaching $9.2170. The stock had a trading volume of 6,941,124 shares, compared to its average volume of 2,593,216. The stock has a market capitalization of $1.08 billion, a PE ratio of -5.72 and a beta of 0.82. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50-day simple moving average of $10.03 and a 200 day simple moving average of $9.58. Evolent Health, Inc has a fifty-two week low of $7.06 and a fifty-two week high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The technology company reported ($0.10) EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.20). The firm had revenue of $444.33 million during the quarter, compared to analyst estimates of $459.43 million. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The business's revenue was down 31.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. Evolent Health has set its Q3 2025 guidance at EPS. Analysts predict that Evolent Health, Inc will post 0.08 EPS for the current fiscal 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.