Millennium Management LLC Has $14.12 Million Stake in Evolent Health, Inc. (NYSE:EVH)

Millennium Management LLC boosted its stake in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 134.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,255,446 shares of the technology company's stock after acquiring an additional 720,625 shares during the quarter. Millennium Management LLC owned about 1.08% of Evolent Health worth $14,124,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Pilgrim Partners Asia Pte Ltd acquired a new position in Evolent Health during the fourth quarter worth $26,000. R Squared Ltd acquired a new position in Evolent Health during the fourth quarter worth $31,000. AlphaQuest LLC raised its holdings in Evolent Health by 21,650.0% during the fourth quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock worth $34,000 after purchasing an additional 3,031 shares during the last quarter. Parkside Financial Bank & Trust raised its holdings in Evolent Health by 90.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company's stock worth $56,000 after purchasing an additional 2,358 shares during the last quarter. Finally, AlphaCentric Advisors LLC acquired a new position in Evolent Health during the fourth quarter worth $61,000.

Wall Street Analysts Forecast Growth

EVH has been the subject of several research reports. UBS Group lifted 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 reaffirmed a "buy" rating and set a $15.00 price objective on shares of Evolent Health in a report on Tuesday, May 13th. Piper Sandler reissued an "overweight" rating and issued a $16.00 price target (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. JMP Securities reaffirmed a "market outperform" rating and issued a $13.00 target price on shares of Evolent Health in a research note on Monday, April 28th. Finally, Truist Financial dropped their target price on Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. One investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $17.79.

Evolent Health Trading Down 0.5%

EVH stock traded down $0.04 during trading on Wednesday, reaching $7.66. 90,300 shares of the stock traded hands, compared to its average volume of 2,410,514. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. The firm has a market capitalization of $899.28 million, a PE ratio of -9.35 and a beta of 1.04. The business's 50 day moving average price is $9.33 and its 200-day moving average price is $10.34. Evolent Health, Inc. has a 52-week low of $7.06 and a 52-week high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last posted its earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.02). The business had revenue of $483.65 million for the quarter, compared to analyst estimates of $460.15 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The business's revenue was down 24.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. As a group, sell-side analysts forecast that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

Insider Transactions at Evolent Health

In other news, Director Diane Holder purchased 2,735 shares of the stock in a transaction dated Thursday, March 6th. The shares were bought at an average cost of $9.33 per share, for a total transaction of $25,517.55. Following the transaction, the director now owns 70,584 shares in the company, valued at $658,548.72. This trade represents a 4.03% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brendan B. Springstubb acquired 5,000 shares of Evolent Health stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $8.75 per share, with a total value of $43,750.00. Following the completion of the purchase, the director now owns 11,842 shares in the company, valued at approximately $103,617.50. This represents a 73.08% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 74,000 shares of company stock valued at $666,315 over the last quarter. Company insiders own 1.60% of the company's stock.

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.