Evolent Health, Inc $EVH is Engaged Capital LLC's 5th Largest Position

Key Points

• Engaged Capital LLC reduced its stake in Evolent Health by 4.2%, now owning approximately 5.18 million shares, representing 12.5% of its portfolio.
• Analysts have a consensus rating of "Buy" for Evolent Health, with price targets ranging from $13.00 to $18.00 following adjustments from various firms.
• Evolent Health reported a loss of $0.10 EPS in its recent quarterly earnings, missing expectations and showing a 31.3% year-over-year revenue decline.

Engaged Capital LLC cut its holdings in shares of Evolent Health, Inc (NYSE:EVH - Free Report) by 4.2% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,179,468 shares of the technology company's stock after selling 225,300 shares during the period. Evolent Health comprises approximately 12.5% of Engaged Capital LLC's portfolio, making the stock its 5th largest position. Engaged Capital LLC owned 4.44% of Evolent Health worth $49,050,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Sea Cliff Partners Management LP bought a new stake in Evolent Health during the 4th quarter valued at $9,338,000. Millennium Management LLC increased its stake in Evolent Health by 134.7% during the 4th quarter. Millennium Management LLC now owns 1,255,446 shares of the technology company's stock valued at $14,124,000 after purchasing an additional 720,625 shares in the last quarter. Hudson Bay Capital Management LP raised its holdings in shares of Evolent Health by 146.0% in the fourth quarter. Hudson Bay Capital Management LP now owns 1,013,267 shares of the technology company's stock valued at $11,399,000 after purchasing an additional 601,436 shares during the last quarter. Federated Hermes Inc. raised its holdings in shares of Evolent Health by 122.9% in the first quarter. Federated Hermes Inc. now owns 1,015,444 shares of the technology company's stock valued at $9,616,000 after purchasing an additional 559,837 shares during the last quarter. Finally, First Light Asset Management LLC grew its position in Evolent Health by 991.8% during the first quarter. First Light Asset Management LLC now owns 585,436 shares of the technology company's stock valued at $5,544,000 after buying an additional 531,816 shares during the period.

Analysts Set New Price Targets

A number of brokerages have weighed in on EVH. Needham & Company LLC reiterated a "buy" rating and set a $15.00 target price on shares of Evolent Health in a research report on Tuesday, May 13th. Piper Sandler increased their price target on shares of Evolent Health from $16.00 to $18.00 and gave the stock an "overweight" rating in a report on Thursday, August 28th. Truist Financial increased their price target 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. BTIG Research reissued a "buy" rating and issued a $20.00 price target on shares of Evolent Health in a report on Tuesday. Finally, JMP Securities reissued a "market outperform" rating and issued a $13.00 price target on shares of Evolent Health in a report on Friday, June 20th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Evolent Health presently has a consensus rating of "Buy" and an average price target of $17.43.

Evolent Health Stock Up 2.5%

Shares of EVH stock traded up $0.25 during mid-day trading on Tuesday, reaching $9.92. 973,200 shares of the company's stock traded hands, compared to its average volume of 2,659,490. Evolent Health, Inc has a 12 month low of $7.06 and a 12 month high of $31.80. The company has a market cap of $1.17 billion, a P/E ratio of -6.15 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. The company's 50-day moving average price is $10.01 and its 200-day moving average price is $9.51.

Evolent Health (NYSE:EVH - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $459.43 million. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The company's quarterly revenue was down 31.3% compared to the same quarter last year. During the same period last year, the business earned $0.30 earnings per share. Evolent Health has set its Q3 2025 guidance at EPS. On average, equities analysts expect that Evolent Health, Inc will post 0.08 earnings per share for the current fiscal year.

About Evolent Health

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.