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

Rock Point Advisors LLC lifted its position in Evolent Health, Inc (NYSE:EVH - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 824,535 shares of the technology company's stock after purchasing an additional 225,396 shares during the quarter. Evolent Health accounts for approximately 2.4% of Rock Point Advisors LLC's holdings, making the stock its 13th biggest holding. Rock Point Advisors LLC owned approximately 0.71% of Evolent Health worth $7,808,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EVH. Pilgrim Partners Asia Pte Ltd bought a new stake in Evolent Health in the fourth quarter valued at approximately $26,000. AlphaQuest LLC boosted its position in shares of Evolent Health by 21,650.0% during the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company's stock valued at $34,000 after acquiring an additional 3,031 shares during the last quarter. GAMMA Investing LLC lifted its position in Evolent Health by 5,036.4% in the first quarter. GAMMA Investing LLC now owns 9,451 shares of the technology company's stock valued at $90,000 after purchasing an additional 9,267 shares during the last quarter. State of Wyoming purchased a new position in shares of Evolent Health during the fourth quarter valued at approximately $95,000. Finally, Unified Investment Management bought a new stake in Evolent Health in the first quarter worth $104,000.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. JMP Securities restated a "market outperform" rating and issued a $13.00 price target on shares of Evolent Health in a research report on Friday, June 20th. 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. Truist Financial dropped their target price on Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group boosted their price target on Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 9th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $17.79.

Evolent Health Trading Down 3.7%

Shares of EVH stock opened at $11.35 on Thursday. The company has a market cap of $1.33 billion, a P/E ratio of -9.23 and a beta of 1.01. Evolent Health, Inc has a fifty-two week low of $7.06 and a fifty-two week high of $33.63. The stock has a 50 day simple moving average of $9.36 and a two-hundred day simple moving average of $9.82. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.98 and a current ratio of 0.98.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings data 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 positive return on equity of 3.64% and a negative net margin of 4.54%. The company had revenue of $483.65 million for the quarter, compared to analysts' expectations of $460.15 million. During the same period last year, the company posted $0.34 EPS. The business's revenue for the quarter was down 24.4% on a year-over-year basis. Research analysts forecast 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.

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