Granahan Investment Management LLC Cuts Stock Holdings in Evolent Health, Inc $EVH

Key Points

• Granahan Investment Management LLC reduced its stake in Evolent Health by 62.9% in the 1st quarter, selling over 2.3 million shares, and now owns approximately 1.17% of the company.
• Evolent Health's stock is currently down 1.0%, trading at $9.49, with a market cap of $1.11 billion and a PE ratio of -5.89.
• Analysts maintain a positive outlook on Evolent Health, with a consensus rating of "Buy" and an average price target of $18.07, reflecting expectations for future growth.

Granahan Investment Management LLC trimmed its stake in Evolent Health, Inc (NYSE:EVH - Free Report) by 62.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,361,830 shares of the technology company's stock after selling 2,311,880 shares during the period. Granahan Investment Management LLC owned 1.17% of Evolent Health worth $12,897,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new stake in Evolent Health in the 1st quarter valued at approximately $25,000. US Bancorp DE raised its position in Evolent Health by 291.0% in the 1st quarter. US Bancorp DE now owns 5,153 shares of the technology company's stock valued at $49,000 after purchasing an additional 3,835 shares during the last quarter. Signaturefd LLC raised its position in Evolent Health by 400.6% in the 1st quarter. Signaturefd LLC now owns 7,043 shares of the technology company's stock valued at $67,000 after purchasing an additional 5,636 shares during the last quarter. GAMMA Investing LLC raised its position in Evolent Health by 5,036.4% in the 1st quarter. GAMMA Investing LLC now owns 9,451 shares of the technology company's stock valued at $90,000 after purchasing an additional 9,267 shares during the last quarter. Finally, State of Wyoming bought a new position in Evolent Health in the 4th quarter valued at $95,000.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on EVH shares. BTIG Research restated a "buy" rating and set a $20.00 target price on shares of Evolent Health in a research report on Tuesday. Canaccord Genuity Group reaffirmed a "buy" rating and set a $16.00 price objective on shares of Evolent Health in a research report on Tuesday. JMP Securities reaffirmed a "market outperform" rating and set a $13.00 price objective on shares of Evolent Health in a research report on Friday, June 20th. Piper Sandler increased their price target on Evolent Health from $16.00 to $18.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Finally, Truist Financial upped their price objective on Evolent Health from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Evolent Health presently has an average rating of "Buy" and a consensus target price of $17.43.

Evolent Health Stock Down 5.9%

EVH stock traded down $0.59 during mid-day trading on Wednesday, reaching $9.40. 432,460 shares of the company traded hands, compared to its average volume of 2,651,944. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of -5.84 and a beta of 0.73. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.72. Evolent Health, Inc has a fifty-two week low of $7.06 and a fifty-two week high of $31.80. The firm's 50 day moving average price is $9.98 and its 200 day moving average price is $9.52.

Evolent Health (NYSE:EVH - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.20). The company had revenue of $444.33 million for 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%. Evolent Health's revenue for the quarter was down 31.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.30 EPS. Evolent Health has set its Q3 2025 guidance at EPS. As a group, equities research analysts predict that Evolent Health, Inc will post 0.08 EPS for the current fiscal 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.