Point72 Asset Management L.P. Has $3.16 Million Holdings in Evolent Health, Inc. (NYSE:EVH)

Point72 Asset Management L.P. trimmed its position in Evolent Health, Inc. (NYSE:EVH - Free Report) by 81.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 281,144 shares of the technology company's stock after selling 1,214,241 shares during the quarter. Point72 Asset Management L.P. owned 0.24% of Evolent Health worth $3,163,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EVH. Cadian Capital Management LP acquired a new stake in shares of Evolent Health during the 4th quarter worth $58,781,000. Engaged Capital LLC grew its holdings in shares of Evolent Health by 35.5% during the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock worth $60,804,000 after purchasing an additional 1,415,300 shares in the last quarter. Boston Partners grew its holdings in shares of Evolent Health by 92.0% during the 4th quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock worth $27,097,000 after purchasing an additional 1,171,304 shares in the last quarter. Norges Bank acquired a new stake in shares of Evolent Health during the 4th quarter worth $12,519,000. Finally, Millennium Management LLC grew its holdings in shares of Evolent Health by 134.7% during the 4th quarter. Millennium Management LLC now owns 1,255,446 shares of the technology company's stock worth $14,124,000 after purchasing an additional 720,625 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Canaccord Genuity Group reduced their target price on Evolent Health from $23.00 to $16.00 and set a "buy" rating on the stock in a report on Thursday, January 23rd. Piper Sandler restated an "overweight" rating and set a $16.00 price objective (down from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Oppenheimer dropped their price objective on Evolent Health from $28.00 to $18.00 and set an "outperform" rating for the company in a research report on Friday, January 24th. JPMorgan Chase & Co. dropped their price objective on Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research report on Monday, March 10th. Finally, UBS Group upped their price objective on Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $17.79.

Evolent Health Trading Down 2.3%

Evolent Health stock traded down $0.17 during trading hours on Friday, hitting $7.19. The stock had a trading volume of 2,212,368 shares, compared to its average volume of 2,419,020. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The stock has a market cap of $844.11 million, a price-to-earnings ratio of -8.77 and a beta of 1.04. Evolent Health, Inc. has a one year low of $7.07 and a one year high of $33.63. The business's 50 day simple moving average is $9.49 and its 200-day simple moving average is $10.71.

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

Insider Transactions at Evolent Health

In other Evolent Health news, CEO Seth Blackley bought 55,225 shares of the stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the acquisition, the chief executive officer now owns 762,217 shares in the company, valued at $6,867,575.17. This trade represents a 7.81% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this link. Also, Director Diane Holder bought 2,735 shares of the stock in a transaction on Thursday, March 6th. The stock was acquired at an average price of $9.33 per share, with a total value of $25,517.55. Following the completion of the acquisition, the director now owns 70,584 shares of the company's stock, valued at $658,548.72. This represents a 4.03% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 74,000 shares of company stock worth $666,315 over the last ninety days. 1.40% of the stock is owned by insiders.

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.