American International Group Inc. grew its position in shares of Evolent Health Inc (NYSE:EVH) by 15.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,266 shares of the technology company’s stock after acquiring an additional 5,335 shares during the quarter. American International Group Inc. owned about 0.05% of Evolent Health worth $495,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in EVH. Virtu Financial LLC acquired a new position in shares of Evolent Health during the 4th quarter valued at $172,000. BlackRock Inc. boosted its position in shares of Evolent Health by 10.3% in the fourth quarter. BlackRock Inc. now owns 3,762,203 shares of the technology company’s stock worth $46,274,000 after buying an additional 352,524 shares during the period. Bank of New York Mellon Corp boosted its position in Evolent Health by 508.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,439,621 shares of the technology company’s stock valued at $42,307,000 after purchasing an additional 2,874,211 shares during the last quarter. Eagle Asset Management Inc. boosted its position in Evolent Health by 32.6% during the fourth quarter. Eagle Asset Management Inc. now owns 2,029,190 shares of the technology company’s stock valued at $25,056,000 after purchasing an additional 499,247 shares during the last quarter. Finally, State of Wisconsin Investment Board acquired a new stake in Evolent Health during the fourth quarter valued at $4,920,000. Institutional investors own 99.83% of the company’s stock.
EVH has been the subject of a number of analyst reports. Zacks Investment Research cut Evolent Health from a “hold” rating to a “sell” rating in a research report on Thursday, March 8th. Canaccord Genuity dropped their price objective on Evolent Health from $27.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, February 28th. Wells Fargo lowered their price target on Evolent Health from $27.00 to $20.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 28th. Jefferies Group set a $22.00 price objective on Evolent Health and gave the company a “buy” rating in a research note on Tuesday, February 13th. Finally, Citigroup started coverage on Evolent Health in a research note on Thursday, January 4th. They issued a “buy” rating on the stock. Three equities research analysts have rated the stock with a sell rating and twelve have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $25.33.
Shares of Evolent Health stock traded down $0.20 during mid-day trading on Monday, reaching $14.60. 775,529 shares of the company’s stock traded hands, compared to its average volume of 1,034,465. The firm has a market capitalization of $1,130.58, a P/E ratio of -14.90 and a beta of 1.08. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.85 and a quick ratio of 2.85. Evolent Health Inc has a 1 year low of $10.30 and a 1 year high of $27.50.
In related news, Director Unitedhealth Group Inc sold 3,040,000 shares of Evolent Health stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $13.70, for a total value of $41,648,000.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 8.79% of the company’s stock.
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About Evolent Health
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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