Eventide Asset Management LLC Boosts Stock Holdings in Evolent Health, Inc $EVH

Key Points

• Eventide Asset Management LLC increased its stake in Evolent Health by 33.5% during the first quarter, owning over 6 million shares now valued at approximately $57.6 million.
• Analysts have mostly rated Evolent Health strongly, with a consensus rating of "Buy" and a target price of $18.07, following several upgrades from financial firms.
• Despite recent institutional interest, Evolent Health reported a loss of $0.10 per share last quarter, falling short of analyst expectations and experiencing a 31.3% decline in year-over-year revenue.

Eventide Asset Management LLC increased its stake in shares of Evolent Health, Inc (NYSE:EVH - Free Report) by 33.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,077,191 shares of the technology company's stock after acquiring an additional 1,524,885 shares during the quarter. Evolent Health comprises approximately 1.1% of Eventide Asset Management LLC's portfolio, making the stock its 24th largest holding. Eventide Asset Management LLC owned about 5.21% of Evolent Health worth $57,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of EVH. Brighton Jones LLC acquired a new position in Evolent Health in the fourth quarter valued at $3,927,000. First Trust Advisors LP increased its stake in Evolent Health by 401.8% in the fourth quarter. First Trust Advisors LP now owns 151,919 shares of the technology company's stock valued at $1,709,000 after purchasing an additional 121,645 shares during the period. Northern Trust Corp increased its stake in Evolent Health by 1.4% in the fourth quarter. Northern Trust Corp now owns 1,194,864 shares of the technology company's stock valued at $13,442,000 after purchasing an additional 17,050 shares during the period. Brevan Howard Capital Management LP acquired a new position in Evolent Health in the 4th quarter valued at $613,000. Finally, Deutsche Bank AG increased its stake in Evolent Health by 21.5% in the 4th quarter. Deutsche Bank AG now owns 185,617 shares of the technology company's stock valued at $2,088,000 after buying an additional 32,904 shares during the period.

Evolent Health Price Performance

Shares of EVH stock traded up $0.25 during trading hours on Tuesday, hitting $9.92. The company's stock had a trading volume of 973,200 shares, compared to its average volume of 2,659,490. The business has a fifty day moving average of $10.01 and a 200-day moving average of $9.51. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of -6.15 and a beta of 0.73. Evolent Health, Inc has a twelve month low of $7.06 and a twelve month high of $31.80. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72.

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

Wall Street Analyst Weigh In

EVH has been the topic of a number of recent analyst reports. BTIG Research reiterated a "buy" rating and set a $20.00 price target on shares of Evolent Health in a research note on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price target on shares of Evolent Health in a research note on Tuesday, May 13th. Truist Financial boosted their price target on shares of Evolent Health from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. JMP Securities reiterated a "market outperform" rating and set a $13.00 price target on shares of Evolent Health in a research note on Friday, June 20th. Finally, Piper Sandler boosted their price target on shares of Evolent Health from $16.00 to $18.00 and gave the stock an "overweight" rating in a research note on Thursday, August 28th. One investment analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $17.43.

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.