Dimensional Fund Advisors LP Has $4.08 Million Stock Position in Evolent Health, Inc $EVH

Key Points

• Dimensional Fund Advisors reduced its Evolent Health stake by 22.4% in the first quarter, selling 517,486 shares but retaining 1.79 million shares valued at approximately $4.08 million, or 1.6% of the company.
• Evolent Health reported quarterly EPS of $0.02, beating the $0.01 loss analysts expected, while revenue rose 46.9% year over year to $484.5 million but fell short of the $597.7 million consensus estimate.
• The stock opened at $4.18 and analysts maintain a “Moderate Buy” consensus, with 12 Buy, four Hold and one Sell rating and an average price target of $5.96.

Dimensional Fund Advisors LP reduced its stake in Evolent Health, Inc (NYSE:EVH - Free Report) by 22.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,790,298 shares of the technology company's stock after selling 517,486 shares during the period. Dimensional Fund Advisors LP owned 1.60% of Evolent Health worth $4,081,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Evolent Health by 2.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company's stock valued at $1,217,000 after buying an additional 3,572 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in Evolent Health by 4,000.0% during the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company's stock worth $35,000 after buying an additional 4,000 shares during the last quarter. Strs Ohio acquired a new position in shares of Evolent Health during the 1st quarter worth about $47,000. Headlands Technologies LLC acquired a new position in shares of Evolent Health during the 2nd quarter worth about $58,000. Finally, Osaic Holdings Inc. increased its stake in shares of Evolent Health by 99.2% in the 2nd quarter. Osaic Holdings Inc. now owns 11,119 shares of the technology company's stock valued at $125,000 after acquiring an additional 5,537 shares during the last quarter.

Evolent Health Trading Up 2.0%

NYSE EVH opened at $4.18 on Thursday. The firm has a market cap of $470.17 million, a P/E ratio of -0.91 and a beta of 0.79. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.24 and a quick ratio of 1.24. The stock's 50-day moving average is $4.76 and its 200-day moving average is $3.72. Evolent Health, Inc has a one year low of $2.10 and a one year high of $10.08.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The technology company reported $0.02 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.03. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.The business had revenue of $484.50 million during the quarter, compared to analyst estimates of $597.70 million. During the same period in the previous year, the firm earned ($0.10) EPS. Evolent Health's quarterly revenue was up 46.9% compared to the same quarter last year. Sell-side analysts anticipate that Evolent Health, Inc will post -0.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EVH shares. Needham & Company LLC increased their price target on shares of Evolent Health from $4.00 to $5.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. TD Cowen decreased their price objective on shares of Evolent Health from $8.00 to $5.00 and set a "buy" rating for the company in a report on Tuesday, July 28th. Weiss Ratings raised shares of Evolent Health from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Tuesday, August 4th. Truist Financial cut their target price on shares of Evolent Health from $7.00 to $6.00 and set a "hold" rating on the stock in a report on Wednesday. Finally, Citigroup raised shares of Evolent Health from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $6.75 to $6.00 in a research report on Monday. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $5.96.

About Evolent Health

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company's core offerings include care management solutions, population health analytics and clinical advisory services.

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