RA Capital Management L.P. Sells 4,937,665 Shares of Evolent Health, Inc. (NYSE:EVH)

RA Capital Management L.P. reduced its stake in Evolent Health, Inc. (NYSE:EVH - Free Report) by 58.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,577,197 shares of the technology company's stock after selling 4,937,665 shares during the quarter. RA Capital Management L.P. owned approximately 3.07% of Evolent Health worth $40,243,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of EVH. Engaged Capital LLC increased its position in shares of Evolent Health by 35.5% during the 4th quarter. Engaged Capital LLC now owns 5,404,768 shares of the technology company's stock valued at $60,804,000 after purchasing an additional 1,415,300 shares during the last quarter. Boston Partners grew its position in Evolent Health by 92.0% during the fourth quarter. Boston Partners now owns 2,444,006 shares of the technology company's stock valued at $27,097,000 after buying an additional 1,171,304 shares during the period. Norges Bank purchased a new stake in Evolent Health during the fourth quarter worth about $12,519,000. Barclays PLC raised its position in Evolent Health by 234.4% in the fourth quarter. Barclays PLC now owns 915,422 shares of the technology company's stock worth $10,298,000 after acquiring an additional 641,646 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Evolent Health by 19.2% in 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 acquiring an additional 466,225 shares during the last quarter.

Insider Activity

In other Evolent Health news, President Daniel Joseph Mccarthy acquired 11,040 shares of the company's stock in a transaction on Thursday, March 6th. The stock was acquired at an average cost of $9.01 per share, with a total value of $99,470.40. Following the purchase, the president now directly owns 389,004 shares of the company's stock, valued at approximately $3,504,926.04. This represents a 2.92 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Seth Blackley acquired 55,225 shares of Evolent Health stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $9.01 per share, for a total transaction of $497,577.25. Following the completion of the purchase, the chief executive officer now directly owns 762,217 shares of the company's stock, valued at $6,867,575.17. The trade was a 7.81 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 74,000 shares of company stock worth $666,315 over the last 90 days. Corporate insiders own 1.60% of the company's stock.

Analyst Ratings Changes

Several brokerages recently weighed in on EVH. 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. Canaccord Genuity Group dropped their price target on shares of Evolent Health from $23.00 to $16.00 and set a "buy" rating on the stock in a research note on Thursday, January 23rd. Truist Financial reduced their price objective 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. Citigroup reduced their price target on Evolent Health from $21.00 to $18.00 and set a "buy" rating for the company in a research report on Friday, January 10th. Finally, Stephens dropped their price objective on Evolent Health from $16.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $17.71.

Evolent Health Price Performance

EVH traded down $0.27 on Tuesday, hitting $10.29. 368,646 shares of the company's stock traded hands, compared to its average volume of 2,363,428. Evolent Health, Inc. has a one year low of $8.35 and a one year high of $33.63. 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 firm has a market cap of $1.20 billion, a price-to-earnings ratio of -12.56 and a beta of 1.20. The company's 50 day simple moving average is $9.50 and its 200-day simple moving average is $11.83.

Evolent Health (NYSE:EVH - Get Free Report) last issued its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts' consensus estimates of $0.38 by ($0.35). The company had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. As a group, research analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

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.