Rock Point Advisors LLC Has $7.81 Million Stock Position in Evolent Health, Inc (NYSE:EVH)

Rock Point Advisors LLC increased its holdings in shares of Evolent Health, Inc (NYSE:EVH - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 824,535 shares of the technology company's stock after acquiring an additional 225,396 shares during the period. Evolent Health comprises about 2.4% of Rock Point Advisors LLC's investment portfolio, making the stock its 13th biggest position. Rock Point Advisors LLC owned 0.71% of Evolent Health worth $7,808,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of Evolent Health in the 4th quarter valued at $2,542,000. Brighton Jones LLC bought a new position in shares of Evolent Health in the fourth quarter valued at approximately $3,927,000. Charles Schwab Investment Management Inc. increased its holdings in Evolent Health by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 918,992 shares of the technology company's stock valued at $10,339,000 after purchasing an additional 6,597 shares in the last quarter. Brevan Howard Capital Management LP bought a new position in Evolent Health in the 4th quarter valued at $613,000. Finally, Federated Hermes Inc. boosted its stake in Evolent Health by 407.8% in the fourth quarter. Federated Hermes Inc. now owns 455,607 shares of the technology company's stock worth $5,126,000 after purchasing an additional 365,890 shares in the last quarter.

Wall Street Analyst Weigh In

EVH has been the topic of several research analyst reports. Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of Evolent Health in a report on Tuesday, May 13th. Truist Financial decreased their target price on Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. UBS Group increased their target price on Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, 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. One equities 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 company. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $17.79.

Evolent Health Trading Down 0.6%

NYSE:EVH traded down $0.07 during mid-day trading on Friday, hitting $11.16. The company had a trading volume of 1,112,556 shares, compared to its average volume of 2,520,153. Evolent Health, Inc has a fifty-two week low of $7.06 and a fifty-two week high of $33.63. The business's fifty day moving average is $9.39 and its two-hundred day moving average is $9.80. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.98 and a current ratio of 0.98. The firm has a market cap of $1.31 billion, a P/E ratio of -9.07 and a beta of 1.01.

Evolent Health (NYSE:EVH - Get Free Report) last released 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). 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 previous year, the company posted $0.34 EPS. The company's quarterly revenue was down 24.4% compared to the same quarter last year. As a group, research analysts expect that Evolent Health, Inc will post 0.08 earnings per share for the current year.

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.