First Light Asset Management LLC Buys 531,816 Shares of Evolent Health, Inc $EVH

Key Points

• First Light Asset Management LLC significantly increased its stake in Evolent Health, Inc by 991.8%, acquiring an additional 531,816 shares during the first quarter, bringing its total to 585,436 shares valued at approximately $5.54 million.
• Evolent Health reported a net loss of ($0.10) EPS in its latest earnings, missing the consensus estimate, and its revenue declined by 31.3% year-over-year to $444.33 million.
• Analysts have a consensus rating of "Buy" for Evolent Health, with an average price target of $18.07, reflecting a positive outlook despite recent challenges.

First Light Asset Management LLC lifted its holdings in shares of Evolent Health, Inc (NYSE:EVH - Free Report) by 991.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 585,436 shares of the technology company's stock after purchasing an additional 531,816 shares during the quarter. First Light Asset Management LLC owned 0.50% of Evolent Health worth $5,544,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State of Wyoming boosted its stake in Evolent Health by 291.1% in the first quarter. State of Wyoming now owns 33,187 shares of the technology company's stock worth $314,000 after buying an additional 24,701 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Evolent Health by 25.6% in the first quarter. Gamco Investors INC. ET AL now owns 247,500 shares of the technology company's stock worth $2,344,000 after buying an additional 50,400 shares in the last quarter. FORA Capital LLC boosted its stake in Evolent Health by 19.4% in the first quarter. FORA Capital LLC now owns 67,728 shares of the technology company's stock worth $641,000 after buying an additional 10,989 shares in the last quarter. AlphaQuest LLC boosted its stake in Evolent Health by 460.4% in the first quarter. AlphaQuest LLC now owns 17,064 shares of the technology company's stock worth $162,000 after buying an additional 14,019 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Evolent Health by 94.7% in the first quarter. Hsbc Holdings PLC now owns 111,396 shares of the technology company's stock valued at $1,048,000 after purchasing an additional 54,186 shares during the last quarter.

Analysts Set New Price Targets

Several analysts have weighed in on EVH shares. Piper Sandler boosted their price objective on Evolent Health from $16.00 to $18.00 and gave the company an "overweight" rating in a research report on Thursday, August 28th. Truist Financial upped their target price on Evolent Health from $14.00 to $16.00 and gave the company a "buy" rating in a report on Thursday, July 17th. UBS Group increased their price objective on Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Needham & Company LLC reiterated a "buy" rating and issued a $15.00 price objective on shares of Evolent Health in a report on Tuesday, May 13th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $13.00 price objective on shares of Evolent Health in a report on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $18.07.

Evolent Health Stock Performance

NYSE:EVH traded up $0.12 on Friday, hitting $9.61. The stock had a trading volume of 2,016,991 shares, compared to its average volume of 3,679,526. The business's 50-day simple moving average is $10.04 and its two-hundred day simple moving average is $9.53. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of -5.97 and a beta of 0.73. Evolent Health, Inc has a 52-week low of $7.06 and a 52-week high of $31.80. 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 (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 firm had revenue of $444.33 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 31.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 earnings per share. Evolent Health has set its Q3 2025 guidance at EPS. As a group, research analysts predict 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.