Evolent Health, Inc. (NYSE:EVH) Short Interest Up 7.3% in April

Evolent Health, Inc. (NYSE:EVH - Get Free Report) was the target of a large increase in short interest during the month of April. As of April 15th, there was short interest totalling 11,380,000 shares, an increase of 7.3% from the March 31st total of 10,610,000 shares. Based on an average daily trading volume, of 934,800 shares, the short-interest ratio is currently 12.2 days.

Hedge Funds Weigh In On Evolent Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Janney Capital Management LLC lifted its stake in Evolent Health by 7.6% in the 1st quarter. Janney Capital Management LLC now owns 9,543 shares of the technology company's stock valued at $313,000 after purchasing an additional 671 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in Evolent Health by 86.7% in the 1st quarter. BNP Paribas Financial Markets now owns 99,126 shares of the technology company's stock valued at $3,250,000 after purchasing an additional 46,024 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Evolent Health by 18.9% in the 1st quarter. Principal Financial Group Inc. now owns 15,114 shares of the technology company's stock valued at $496,000 after purchasing an additional 2,398 shares during the last quarter. HMS Capital Management LLC lifted its stake in Evolent Health by 7.8% in the 1st quarter. HMS Capital Management LLC now owns 7,419 shares of the technology company's stock valued at $243,000 after purchasing an additional 538 shares during the last quarter. Finally, WoodTrust Financial Corp lifted its stake in Evolent Health by 3.2% in the 1st quarter. WoodTrust Financial Corp now owns 44,200 shares of the technology company's stock valued at $1,449,000 after purchasing an additional 1,350 shares during the last quarter.

Evolent Health Price Performance

Shares of Evolent Health stock traded down $0.47 on Wednesday, reaching $27.27. 896,842 shares of the stock were exchanged, compared to its average volume of 939,948. The firm's 50 day moving average is $31.65 and its 200-day moving average is $30.29. Evolent Health has a one year low of $23.33 and a one year high of $36.42. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $3.15 billion, a PE ratio of -21.47 and a beta of 1.53.

Evolent Health (NYSE:EVH - Get Free Report) last issued its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.13. Evolent Health had a negative net margin of 5.76% and a positive return on equity of 6.60%. The company had revenue of $556.06 million during the quarter, compared to the consensus estimate of $541.87 million. As a group, analysts anticipate that Evolent Health will post 0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

EVH has been the topic of a number of research reports. JMP Securities upped their price target on shares of Evolent Health from $37.00 to $38.00 and gave the company a "market outperform" rating in a research note on Friday, February 23rd. JPMorgan Chase & Co. cut their price objective on shares of Evolent Health from $53.00 to $52.00 and set an "overweight" rating for the company in a report on Friday, March 15th. Citigroup began coverage on shares of Evolent Health in a report on Monday, April 22nd. They issued a "buy" rating and a $40.00 price objective for the company. Canaccord Genuity Group cut their price objective on shares of Evolent Health from $45.00 to $44.00 and set a "buy" rating for the company in a report on Thursday, March 28th. Finally, William Blair reissued an "outperform" rating on shares of Evolent Health in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Evolent Health presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.70.

About Evolent Health

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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