Federated Hermes Inc. Acquires 559,837 Shares of Evolent Health, Inc (NYSE:EVH)

Key Points

• Federated Hermes Inc. increased its stake in Evolent Health by 122.9% in the first quarter, now owning approximately 1,015,444 shares valued at $9.62 million.
• Evolent Health's stock is currently down 0.8%, with a market capitalization of $1.17 billion and a 1-year trading range between $7.06 and $33.63.
• Analysts maintain a buy rating for Evolent Health, with price targets ranging from $13.00 to $17.93.

Federated Hermes Inc. grew its stake in Evolent Health, Inc (NYSE:EVH - Free Report) by 122.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,015,444 shares of the technology company's stock after purchasing an additional 559,837 shares during the period. Federated Hermes Inc. owned about 0.87% of Evolent Health worth $9,616,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Pilgrim Partners Asia Pte Ltd acquired a new stake in Evolent Health in the 4th quarter worth $26,000. Signaturefd LLC grew 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 worth $67,000 after purchasing an additional 5,636 shares during the last quarter. GAMMA Investing LLC grew 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 worth $90,000 after purchasing an additional 9,267 shares during the last quarter. State of Wyoming acquired a new stake in Evolent Health in the 4th quarter worth $95,000. Finally, Unified Investment Management acquired a new stake in Evolent Health in the 1st quarter worth $104,000.

Analyst Upgrades and Downgrades

Several analysts have issued reports on EVH shares. Truist Financial raised their price target on shares of Evolent Health from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. UBS Group lifted their target price on shares of Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 9th. JMP Securities reiterated a "market outperform" rating and set a $13.00 target price on shares of Evolent Health in a research report on Friday, June 20th. Finally, 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. One research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Evolent Health presently has an average rating of "Buy" and an average price target of $17.93.

Evolent Health Price Performance

EVH stock traded down $0.22 during trading on Monday, hitting $9.76. 1,595,409 shares of the stock traded hands, compared to its average volume of 2,523,413. Evolent Health, Inc has a one year low of $7.06 and a one year high of $33.63. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 99.80 and a beta of 0.82. The company has a 50 day simple moving average of $9.73 and a 200 day simple moving average of $9.66. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.69.

Evolent Health (NYSE:EVH - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.02). Evolent Health had a negative net margin of 4.54% and a positive return on equity of 3.64%. The firm had revenue of $483.65 million for the quarter, compared to the consensus estimate of $460.15 million. During the same period in the prior year, the business earned $0.34 earnings per share. The company's revenue for the quarter was down 24.4% on a year-over-year basis. Equities analysts expect that Evolent Health, Inc will post 0.08 EPS 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.