Evolent Health, Inc $EVH Shares Sold by Salem Investment Counselors Inc.

Key Points

• Salem Investment Counselors Inc. has reduced its stake in Evolent Health, Inc. by 19.3% during the second quarter, selling 79,690 shares and retaining 333,935 shares worth approximately $3.76 million.
• Analysts have upgraded their target prices for Evolent Health, with Piper Sandler increasing it from $16.00 to $18.00, reflecting a consensus rating of "Buy" with a target price of $17.43.
• Evolent Health's latest earnings report showed a loss of ($0.10) EPS, missing expectations and marking a 31.3% decrease in revenue year-over-year.

Salem Investment Counselors Inc. lessened its position in Evolent Health, Inc (NYSE:EVH - Free Report) by 19.3% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 333,935 shares of the technology company's stock after selling 79,690 shares during the period. Salem Investment Counselors Inc. owned approximately 0.28% of Evolent Health worth $3,760,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in EVH. Banque Cantonale Vaudoise purchased a new position in shares of Evolent Health during the first quarter valued at about $25,000. Strs Ohio acquired a new stake in Evolent Health during the 1st quarter worth $47,000. US Bancorp DE boosted its holdings in Evolent Health by 291.0% during the first quarter. US Bancorp DE now owns 5,153 shares of the technology company's stock worth $49,000 after buying an additional 3,835 shares in the last quarter. Signaturefd LLC raised its position in shares of Evolent Health by 400.6% in the first quarter. Signaturefd LLC now owns 7,043 shares of the technology company's stock valued at $67,000 after buying an additional 5,636 shares during the last quarter. Finally, State of Wyoming purchased a new stake in Evolent Health during the fourth quarter worth approximately $95,000.

Wall Street Analysts Forecast Growth

Several research firms have commented on EVH. BTIG Research reissued a "buy" rating and set a $20.00 target price on shares of Evolent Health in a research note on Tuesday, September 9th. JMP Securities reissued a "market outperform" rating and set a $13.00 price objective on shares of Evolent Health in a report on Friday, June 20th. Truist Financial increased their target price on Evolent Health from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Piper Sandler increased their price objective on Evolent Health from $16.00 to $18.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $16.00 target price on shares of Evolent Health in a research report on Tuesday, September 9th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $17.43.

Evolent Health Stock Down 2.7%

Shares of EVH stock traded down $0.24 during mid-day trading on Friday, hitting $8.50. The company's stock had a trading volume of 537,565 shares, compared to its average volume of 2,683,405. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50-day moving average price of $9.59 and a 200 day moving average price of $9.49. The stock has a market cap of $998.84 million, a price-to-earnings ratio of -5.34 and a beta of 0.73. Evolent Health, Inc has a 52-week low of $7.06 and a 52-week high of $31.37.

Evolent Health (NYSE:EVH - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported ($0.10) earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.20). The firm had revenue of $444.33 million for the quarter, compared to the consensus estimate of $459.43 million. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The company's revenue for the quarter was down 31.3% on a year-over-year basis. During the same period last year, the firm earned $0.30 earnings per share. Evolent Health has set its Q3 2025 guidance at EPS. Research analysts predict that Evolent Health, Inc will post 0.08 EPS for the current fiscal 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.