Federated Hermes Inc. Increases Position in 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. raised its stake in shares of Evolent Health, Inc (NYSE:EVH - Free Report) by 122.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 0.87% of Evolent Health worth $9,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of Evolent Health in the fourth quarter worth approximately $26,000. Signaturefd LLC increased its holdings in Evolent Health by 400.6% during 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 period. State of Wyoming purchased a new position in Evolent Health during the 4th quarter worth $95,000. GAMMA Investing LLC increased its holdings in Evolent Health by 5,036.4% during 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 period. Finally, Ethic Inc. purchased a new position in Evolent Health during the 4th quarter worth $113,000.

Evolent Health Stock Performance

EVH traded down $0.16 on Wednesday, reaching $9.35. 930,236 shares of the stock were exchanged, compared to its average volume of 2,521,121. The company's 50-day moving average price is $9.82 and its 200 day moving average price is $9.65. Evolent Health, Inc has a fifty-two week low of $7.06 and a fifty-two week high of $33.63. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.98 and a quick ratio of 0.98. The firm has a market capitalization of $1.10 billion, a PE ratio of -7.60 and a beta of 0.82.

Evolent Health (NYSE:EVH - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The technology company reported $0.06 earnings per share for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). The company had revenue of $483.65 million for the quarter, compared to analysts' expectations of $460.15 million. Evolent Health had a negative net margin of 4.54% and a positive return on equity of 3.64%. The business's quarterly revenue was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, sell-side analysts forecast that Evolent Health, Inc will post 0.08 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the company. JMP Securities restated a "market outperform" rating and set a $13.00 price objective on shares of Evolent Health in a report on Friday, June 20th. Truist Financial increased their target price on Evolent Health from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Needham & Company LLC reaffirmed a "buy" rating and set a $15.00 target price on shares of Evolent Health in a research report on Tuesday, May 13th. Finally, UBS Group increased their target price on Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $17.93.

Evolent Health Company 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.