Salem Investment Counselors Inc. lifted its holdings in shares of Evolent Health, Inc. (NYSE:EVH - Free Report) by 18.1% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 413,625 shares of the technology company's stock after acquiring an additional 63,470 shares during the quarter. Salem Investment Counselors Inc. owned 0.35% of Evolent Health worth $3,917,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in Evolent Health by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 11,171,199 shares of the technology company's stock worth $125,676,000 after acquiring an additional 259,781 shares during the period. Engaged Capital LLC raised its holdings in shares of Evolent Health by 35.5% in 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 during the period. Cadian Capital Management LP purchased a new position in Evolent Health in the fourth quarter valued at approximately $58,781,000. Granahan Investment Management LLC lifted its stake in Evolent Health by 5.2% in the fourth quarter. Granahan Investment Management LLC now owns 3,673,710 shares of the technology company's stock valued at $41,329,000 after purchasing an additional 181,893 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in Evolent Health by 19.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,897,443 shares of the technology company's stock valued at $32,595,000 after purchasing an additional 466,225 shares during the period.
Evolent Health Price Performance
Shares of NYSE EVH traded down $0.08 during midday trading on Monday, hitting $8.19. 2,318,638 shares of the company's stock were exchanged, compared to its average volume of 2,383,437. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The business's fifty day moving average price is $8.94 and its two-hundred day moving average price is $9.92. The company has a market cap of $961.98 million, a price-to-earnings ratio of -9.99 and a beta of 0.87. Evolent Health, Inc. has a 12-month low of $7.06 and a 12-month high of $33.63.
Evolent Health (NYSE:EVH - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The technology company reported $0.06 EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.02). The company had revenue of $483.65 million during the quarter, compared to analysts' expectations of $460.15 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. Evolent Health's quarterly revenue was down 24.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.34 EPS. As a group, research analysts forecast that Evolent Health, Inc. will post 0.08 EPS for the current fiscal year.
Analysts Set New Price Targets
Several equities research analysts recently weighed in on EVH shares. Piper Sandler reissued an "overweight" rating and issued a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. JMP Securities reissued a "market outperform" rating and issued a $13.00 price target on shares of Evolent Health in a research report on Monday, April 28th. UBS Group raised their price objective on shares of Evolent Health from $14.00 to $15.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Truist Financial lowered their target price on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Needham & Company LLC restated a "buy" rating and set a $15.00 target price on shares of Evolent Health in a research report on Tuesday, May 13th. One analyst has rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $17.79.
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About Evolent Health
(
Free Report)
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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