Wells Fargo & Company MN trimmed its holdings in shares of Evolent Health Inc (NYSE:EVH) by 72.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 207,148 shares of the technology company’s stock after selling 552,576 shares during the period. Wells Fargo & Company MN owned 0.30% of Evolent Health worth $3,687,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. ETF Managers Group LLC purchased a new stake in shares of Evolent Health in the 2nd quarter valued at about $102,000. BNP Paribas Arbitrage SA lifted its holdings in shares of Evolent Health by 815.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,751 shares of the technology company’s stock valued at $120,000 after purchasing an additional 4,232 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Evolent Health in the 3rd quarter valued at about $156,000. IPG Investment Advisors LLC purchased a new stake in shares of Evolent Health in the 3rd quarter valued at about $195,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Evolent Health in the 3rd quarter valued at about $205,000. 95.38% of the stock is owned by institutional investors.
Evolent Health Inc (NYSE EVH) opened at $15.05 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.34 and a current ratio of 3.34. Evolent Health Inc has a 52-week low of $10.30 and a 52-week high of $27.50. The stock has a market capitalization of $1,163.91, a P/E ratio of -13.32 and a beta of 1.07.
Evolent Health (NYSE:EVH) last released its earnings results on Thursday, November 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. Evolent Health had a negative return on equity of 5.05% and a negative net margin of 15.86%. The company had revenue of $107.90 million for the quarter, compared to analysts’ expectations of $104.49 million. During the same quarter in the previous year, the firm posted ($0.26) EPS. The firm’s quarterly revenue was up 79.2% on a year-over-year basis. sell-side analysts forecast that Evolent Health Inc will post -0.57 earnings per share for the current fiscal year.
Several analysts have recently weighed in on the company. Citigroup assumed coverage on Evolent Health in a report on Thursday, January 4th. They issued a “buy” rating for the company. Cantor Fitzgerald restated a “buy” rating and issued a $30.00 price target on shares of Evolent Health in a research report on Sunday, December 3rd. Leerink Swann set a $25.00 price target on Evolent Health and gave the company a “buy” rating in a research report on Saturday, November 18th. Goldman Sachs Group cut Evolent Health from a “conviction-buy” rating to a “buy” rating in a research report on Tuesday, November 7th. Finally, SunTrust Banks restated a “buy” rating and issued a $30.00 price target on shares of Evolent Health in a research report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $28.00.
Evolent Health Company Profile
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
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