Intech Investment Management LLC Increases Holdings in Evolent Health, Inc. (NYSE:EVH)

Intech Investment Management LLC grew its holdings in Evolent Health, Inc. (NYSE:EVH) by 43.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 50,001 shares of the technology company’s stock after acquiring an additional 15,026 shares during the quarter. Intech Investment Management LLC’s holdings in Evolent Health were worth $563,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. R Squared Ltd purchased a new position in Evolent Health in the fourth quarter valued at approximately $31,000. AlphaQuest LLC boosted its holdings in shares of Evolent Health by 21,650.0% in the 4th quarter. AlphaQuest LLC now owns 3,045 shares of the technology company’s stock valued at $34,000 after buying an additional 3,031 shares in the last quarter. Parkside Financial Bank & Trust grew its position in shares of Evolent Health by 90.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 4,957 shares of the technology company’s stock valued at $56,000 after buying an additional 2,358 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in Evolent Health during the 4th quarter worth $61,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in Evolent Health by 2,471.9% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,507 shares of the technology company’s stock valued at $184,000 after acquiring an additional 6,254 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Piper Sandler reissued an “overweight” rating and issued a $16.00 target price (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Canaccord Genuity Group decreased their price objective on Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Needham & Company LLC restated a “buy” rating and set a $15.00 target price on shares of Evolent Health in a research report on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and issued a $12.00 price target on shares of Evolent Health in a research report on Friday, February 14th. Finally, Royal Bank of Canada lowered their price objective on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. One analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $17.71.

Insider Transactions at Evolent Health

In other Evolent Health news, Director Diane Holder bought 2,735 shares of the business’s stock in a transaction on Thursday, March 6th. The stock was bought at an average price of $9.33 per share, for a total transaction of $25,517.55. Following the completion of the transaction, the director now owns 70,584 shares in the company, valued at approximately $658,548.72. The trade was a 4.03 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brendan B. Springstubb purchased 5,000 shares of Evolent Health stock in a transaction on Tuesday, March 4th. The stock was acquired at an average cost of $8.75 per share, for a total transaction of $43,750.00. Following the acquisition, the director now directly owns 11,842 shares of the company’s stock, valued at approximately $103,617.50. This represents a 73.08 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought 74,000 shares of company stock valued at $666,315 in the last quarter. 1.60% of the stock is currently owned by corporate insiders.

Evolent Health Stock Performance

NYSE EVH opened at $9.69 on Tuesday. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of -11.81 and a beta of 1.49. The business’s 50 day moving average is $9.88 and its two-hundred day moving average is $15.92. Evolent Health, Inc. has a 12-month low of $8.35 and a 12-month 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.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data 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). Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. The business had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Research analysts expect 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.