PNC Financial Services Group Inc. lessened its position in shares of Evolent Health Inc (NYSE:EVH) by 52.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,344 shares of the technology company’s stock after selling 8,078 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Evolent Health were worth $105,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of EVH. Schwab Charles Investment Management Inc. raised its stake in shares of Evolent Health by 21.5% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 297,455 shares of the technology company’s stock worth $3,659,000 after acquiring an additional 52,696 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Evolent Health during the 4th quarter worth approximately $251,000. Wells Fargo & Company MN raised its stake in shares of Evolent Health by 72.9% during the 4th quarter. Wells Fargo & Company MN now owns 358,186 shares of the technology company’s stock worth $4,406,000 after acquiring an additional 151,038 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Evolent Health by 14.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 46,237 shares of the technology company’s stock worth $569,000 after acquiring an additional 5,718 shares in the last quarter. Finally, State of Wisconsin Investment Board purchased a new stake in Evolent Health during the 4th quarter worth approximately $4,920,000.
EVH has been the topic of several research analyst reports. ValuEngine raised shares of Evolent Health from a “strong sell” rating to a “sell” rating in a research report on Wednesday, May 2nd. SunTrust Banks boosted their target price on shares of Evolent Health and gave the stock a “buy” rating in a research report on Thursday, June 7th. Zacks Investment Research raised shares of Evolent Health from a “hold” rating to a “buy” rating and set a $21.00 target price on the stock in a research report on Monday, May 14th. Piper Jaffray Companies initiated coverage on shares of Evolent Health in a research report on Monday, June 4th. They set an “overweight” rating and a $30.00 target price on the stock. Finally, MED boosted their target price on shares of Evolent Health from $22.00 to $31.00 and gave the stock an “outperform” rating in a research report on Monday, June 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $26.08.
EVH stock opened at $21.05 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.88 and a current ratio of 2.88. Evolent Health Inc has a 12 month low of $10.30 and a 12 month high of $27.15.
Evolent Health (NYSE:EVH) last released its quarterly earnings data on Wednesday, May 9th. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.06. The business had revenue of $139.70 million for the quarter, compared to the consensus estimate of $140.89 million. Evolent Health had a negative net margin of 12.11% and a negative return on equity of 2.16%. The business’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.14) EPS. research analysts predict that Evolent Health Inc will post -0.33 earnings per share for the current fiscal year.
In other news, Director Unitedhealth Group Inc sold 2,861,065 shares of the company’s stock in a transaction on Friday, June 1st. The shares were sold at an average price of $19.23, for a total value of $55,018,279.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Seth Blackley sold 85,596 shares of the company’s stock in a transaction on Tuesday, May 8th. The shares were sold at an average price of $17.08, for a total transaction of $1,461,979.68. The disclosure for this sale can be found here. Insiders sold a total of 3,149,979 shares of company stock worth $60,641,618 over the last ninety days. Insiders own 4.82% of the company’s stock.
About Evolent Health
Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.
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