Adage Capital Partners GP L.L.C. Reduces Holdings in Evolent Health, Inc $EVH

Adage Capital Partners GP L.L.C. cut its holdings in shares of Evolent Health, Inc (NYSE:EVH - Free Report) by 54.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 381,547 shares of the technology company's stock after selling 462,957 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.33% of Evolent Health worth $3,613,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Light Asset Management LLC increased its stake in shares of Evolent Health by 991.8% during the 1st quarter. First Light Asset Management LLC now owns 585,436 shares of the technology company's stock valued at $5,544,000 after acquiring an additional 531,816 shares during the last quarter. State of Wyoming increased its position in Evolent Health by 291.1% during the first quarter. State of Wyoming now owns 33,187 shares of the technology company's stock worth $314,000 after purchasing an additional 24,701 shares during the last quarter. Gamco Investors INC. ET AL raised its stake in Evolent Health by 25.6% during the first quarter. Gamco Investors INC. ET AL now owns 247,500 shares of the technology company's stock worth $2,344,000 after purchasing an additional 50,400 shares during the period. FORA Capital LLC raised its stake in Evolent Health by 19.4% during the first quarter. FORA Capital LLC now owns 67,728 shares of the technology company's stock worth $641,000 after purchasing an additional 10,989 shares during the period. Finally, AlphaQuest LLC boosted its holdings in shares of Evolent Health by 460.4% in the 1st quarter. AlphaQuest LLC now owns 17,064 shares of the technology company's stock valued at $162,000 after purchasing an additional 14,019 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have recently commented on EVH shares. Truist Financial upped their price objective on Evolent Health from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Thursday, July 17th. JMP Securities restated a "market outperform" rating and set a $13.00 price target on shares of Evolent Health in a research note on Friday, June 20th. Canaccord Genuity Group reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Evolent Health in a research note on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of Evolent Health in a report on Tuesday, May 13th. Finally, BTIG Research restated a "buy" rating and issued a $20.00 price target on shares of Evolent Health in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $17.43.

Evolent Health Stock Down 7.6%

Shares of EVH traded down $0.76 during midday trading on Wednesday, reaching $9.23. 1,700,667 shares of the company were exchanged, compared to its average volume of 2,659,675. Evolent Health, Inc has a 1-year low of $7.06 and a 1-year high of $31.80. The stock has a 50-day moving average price of $9.98 and a 200-day moving average price of $9.52. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.72. The company has a market cap of $1.08 billion, a price-to-earnings ratio of -5.73 and a beta of 0.73.

Evolent Health (NYSE:EVH - Get Free Report) last posted its 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 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%. Evolent Health's quarterly revenue was down 31.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. Evolent Health has set its Q3 2025 guidance at EPS. Research analysts expect that Evolent Health, Inc will post 0.08 earnings per share for the current 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.