Salem Investment Counselors Inc. boosted its holdings in Evolent Health, Inc. (NYSE:EVH - Free Report) by 18.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 413,625 shares of the technology company's stock after buying an additional 63,470 shares during the quarter. Salem Investment Counselors Inc. owned approximately 0.35% of Evolent Health worth $3,917,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Evolent Health in the fourth quarter valued at $2,542,000. Brighton Jones LLC acquired a new position in Evolent Health in the fourth quarter valued at $3,927,000. Charles Schwab Investment Management Inc. boosted its stake in Evolent Health by 0.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 918,992 shares of the technology company's stock valued at $10,339,000 after acquiring an additional 6,597 shares in the last quarter. Levin Capital Strategies L.P. acquired a new position in Evolent Health in the fourth quarter valued at $664,000. Finally, Entropy Technologies LP boosted its stake in Evolent Health by 247.6% in the fourth quarter. Entropy Technologies LP now owns 39,219 shares of the technology company's stock valued at $441,000 after acquiring an additional 27,936 shares in the last quarter.
Evolent Health Stock Performance
NYSE:EVH traded down $0.19 during mid-day trading on Friday, reaching $8.27. The stock had a trading volume of 812,955 shares, compared to its average volume of 2,417,781. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The firm has a market capitalization of $970.31 million, a price-to-earnings ratio of -10.08 and a beta of 0.87. Evolent Health, Inc. has a twelve month low of $7.06 and a twelve month high of $33.63. The business has a 50 day simple moving average of $8.96 and a 200 day simple moving average of $9.99.
Evolent Health (NYSE:EVH - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $483.65 million during the quarter, compared to analyst estimates of $460.15 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. 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 business earned $0.34 EPS. On average, analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have issued reports on EVH. UBS Group upped their price objective on shares of Evolent Health from $14.00 to $15.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Needham & Company LLC restated a "buy" rating and issued a $15.00 price objective on shares of Evolent Health in a research note on Tuesday, May 13th. Piper Sandler restated an "overweight" rating and issued a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a research note on Friday, February 21st. JPMorgan Chase & Co. decreased their price objective on shares of Evolent Health from $13.00 to $12.00 and set an "overweight" rating for the company in a research note on Monday, March 10th. Finally, Truist Financial decreased their target price on shares of Evolent Health from $15.00 to $14.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. One analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $17.79.
View Our Latest Stock Analysis on Evolent Health
Evolent Health Profile
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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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