Bank of New York Mellon Corp reduced its holdings in shares of Evolent Health Inc (NYSE:EVH) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,576,209 shares of the technology company’s stock after selling 124,962 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.07% of Evolent Health worth $117,379,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in EVH. Dimensional Fund Advisors LP boosted its position in shares of Evolent Health by 45.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,818,720 shares of the technology company’s stock worth $59,335,000 after acquiring an additional 876,358 shares in the last quarter. Baillie Gifford & Co. acquired a new stake in shares of Evolent Health in the 2nd quarter valued at about $18,276,000. Cortina Asset Management LLC boosted its position in shares of Evolent Health by 170.6% in the 2nd quarter. Cortina Asset Management LLC now owns 1,240,945 shares of the technology company’s stock valued at $26,122,000 after purchasing an additional 782,283 shares during the period. Carillon Tower Advisers Inc. boosted its position in shares of Evolent Health by 72.7% in the 2nd quarter. Carillon Tower Advisers Inc. now owns 1,633,453 shares of the technology company’s stock valued at $34,384,000 after purchasing an additional 687,893 shares during the period. Finally, Columbus Circle Investors acquired a new stake in shares of Evolent Health in the 2nd quarter valued at about $13,419,000.
EVH opened at $22.86 on Wednesday. The company has a quick ratio of 2.59, a current ratio of 2.59 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.79 billion, a price-to-earnings ratio of -32.66 and a beta of 1.50. Evolent Health Inc has a 52 week low of $10.30 and a 52 week high of $29.05.
Evolent Health (NYSE:EVH) last posted its quarterly earnings data on Tuesday, November 6th. The technology company reported ($0.04) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). The firm had revenue of $150.16 million during the quarter, compared to the consensus estimate of $142.94 million. Evolent Health had a negative return on equity of 1.82% and a negative net margin of 9.84%. The firm’s revenue was up 38.6% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.18) EPS. On average, equities research analysts expect that Evolent Health Inc will post -0.36 earnings per share for the current fiscal year.
A number of brokerages recently issued reports on EVH. ValuEngine cut Evolent Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research raised Evolent Health from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Tuesday, July 10th. Canaccord Genuity upped their target price on Evolent Health from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Thursday, September 13th. Cowen upped their target price on Evolent Health from $29.00 to $35.00 and gave the company an “outperform” rating in a research report on Thursday, September 13th. Finally, Leerink Swann set a $35.00 target price on Evolent Health and gave the company a “buy” rating in a research report on Friday, October 5th. One equities research analyst has rated the stock with a sell rating and thirteen have issued a buy rating to the company. Evolent Health currently has a consensus rating of “Buy” and an average price target of $30.09.
In other Evolent Health news, COO Thomas Peterson III sold 70,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The stock was sold at an average price of $27.50, for a total transaction of $1,925,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Frank J. Williams sold 3,878 shares of the company’s stock in a transaction that occurred on Monday, August 20th. The shares were sold at an average price of $24.00, for a total value of $93,072.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 204,607 shares of company stock valued at $5,240,751. 4.82% of the stock is owned by company insiders.
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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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