Raiffeisen Bank International AG Grows Position in Evolent Health, Inc (NYSE:EVH)

Key Points

• Raiffeisen Bank International AG increased its stake in Evolent Health by 33.3%, now owning 120,000 shares valued at approximately $1.15 million.
• Evolent Health reported a quarterly revenue of $483.65 million, which surpassed analysts' expectations, even though its earnings per share of $0.06 missed estimates by $0.02.
• Analysts maintain a positive outlook on Evolent Health, with an average rating of "Buy" and a consensus target price of $17.93 per share.

Raiffeisen Bank International AG lifted its holdings in shares of Evolent Health, Inc (NYSE:EVH - Free Report) by 33.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,000 shares of the technology company's stock after purchasing an additional 30,000 shares during the quarter. Raiffeisen Bank International AG owned about 0.10% of Evolent Health worth $1,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of EVH. Banque Cantonale Vaudoise purchased a new position in shares of Evolent Health during the 1st quarter worth $25,000. US Bancorp DE grew its holdings in shares of Evolent Health by 291.0% during the 1st quarter. US Bancorp DE now owns 5,153 shares of the technology company's stock worth $49,000 after purchasing an additional 3,835 shares during the period. Signaturefd LLC grew its holdings in shares of 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. GAMMA Investing LLC grew its holdings in shares of 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, State of Wyoming purchased a new position in shares of Evolent Health during the 4th quarter worth $95,000.

Evolent Health Price Performance

EVH stock opened at $9.76 on Tuesday. 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 $1.15 billion, a P/E ratio of -7.94 and a beta of 0.82. The business's 50-day moving average is $9.78 and its two-hundred day moving average is $9.66. Evolent Health, Inc has a 1 year low of $7.06 and a 1 year high of $33.63.

Evolent Health (NYSE:EVH - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $483.65 million during the quarter, compared to analyst estimates of $460.15 million. During the same period in the prior year, the business earned $0.34 EPS. Evolent Health's revenue for the quarter was down 24.4% on a year-over-year basis. Analysts anticipate that Evolent Health, Inc will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.

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