Rock Point Advisors LLC Purchases 225,396 Shares of Evolent Health, Inc (NYSE:EVH)

Rock Point Advisors LLC grew its holdings in Evolent Health, Inc (NYSE:EVH - Free Report) by 37.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 824,535 shares of the technology company's stock after acquiring an additional 225,396 shares during the quarter. Evolent Health accounts for 2.4% of Rock Point Advisors LLC's portfolio, making the stock its 13th largest holding. Rock Point Advisors LLC owned approximately 0.71% of Evolent Health worth $7,808,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of Evolent Health in the fourth quarter valued at $26,000. AlphaQuest LLC raised its stake 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 acquiring an additional 3,031 shares in the last quarter. GAMMA Investing LLC raised its stake in Evolent Health by 5,036.4% during the first quarter. GAMMA Investing LLC now owns 9,451 shares of the technology company's stock worth $90,000 after acquiring an additional 9,267 shares in the last quarter. State of Wyoming acquired a new position in Evolent Health during the fourth quarter worth $95,000. Finally, Unified Investment Management acquired a new position in Evolent Health during the first quarter worth $104,000.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Needham & Company LLC reiterated a "buy" rating and set a $15.00 price objective on shares of Evolent Health in a research note on Tuesday, May 13th. Truist Financial dropped their price objective 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. UBS Group increased their price objective on Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, JMP Securities reiterated a "market outperform" rating and set a $13.00 price objective on shares of Evolent Health in a research note on Friday, June 20th. 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. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $17.79.

Evolent Health Price Performance

Shares of EVH stock traded down $0.07 during trading hours on Friday, hitting $11.16. 1,112,556 shares of the company's stock were exchanged, compared to its average volume of 2,517,159. The stock's 50-day moving average is $9.39 and its 200-day moving average is $9.82. 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 stock has a market cap of $1.31 billion, a price-to-earnings ratio of -9.07 and a beta of 1.01. 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 announced 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). The business had revenue of $483.65 million for the quarter, compared to the consensus estimate of $460.15 million. Evolent Health had a positive return on equity of 3.64% and a negative net margin of 4.54%. Evolent Health's revenue for the quarter was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 EPS. As a group, research analysts forecast that Evolent Health, Inc will post 0.08 EPS for the current year.

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.