Shell Asset Management Co. Sells 2,096 Shares of Evolent Health, Inc. (NYSE:EVH)

Shell Asset Management Co. trimmed its holdings in shares of Evolent Health, Inc. (NYSE:EVHGet Rating) by 12.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,167 shares of the technology company’s stock after selling 2,096 shares during the period. Shell Asset Management Co.’s holdings in Evolent Health were worth $458,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Geode Capital Management LLC increased its holdings in Evolent Health by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 1,334,878 shares of the technology company’s stock worth $36,936,000 after acquiring an additional 18,308 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Evolent Health by 104.9% in the 4th quarter. Principal Financial Group Inc. now owns 379,478 shares of the technology company’s stock worth $10,500,000 after acquiring an additional 194,279 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in Evolent Health in the 4th quarter worth about $72,000. Summit Creek Advisors LLC increased its holdings in Evolent Health by 86.5% in the 4th quarter. Summit Creek Advisors LLC now owns 423,952 shares of the technology company’s stock worth $11,731,000 after acquiring an additional 196,656 shares during the last quarter. Finally, Comerica Bank purchased a new stake in Evolent Health in the 1st quarter worth about $1,398,000. 93.27% of the stock is currently owned by institutional investors.

Evolent Health Stock Performance

NYSE:EVH opened at $36.50 on Thursday. The business has a 50 day moving average of $30.99 and a 200 day moving average of $28.72. The company has a market capitalization of $3.34 billion, a price-to-earnings ratio of -96.05 and a beta of 1.86. Evolent Health, Inc. has a 1-year low of $21.36 and a 1-year high of $39.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.21 and a quick ratio of 1.21.

Evolent Health (NYSE:EVHGet Rating) last released its earnings results on Wednesday, May 4th. The technology company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.14. Evolent Health had a negative return on equity of 0.86% and a negative net margin of 3.35%. The company had revenue of $297.10 million during the quarter, compared to the consensus estimate of $286.81 million. During the same quarter in the previous year, the company posted ($0.06) EPS. Evolent Health’s quarterly revenue was up 37.7% compared to the same quarter last year. On average, sell-side analysts predict that Evolent Health, Inc. will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group lifted their price objective on Evolent Health from $40.00 to $45.00 in a report on Monday, May 9th. BTIG Research lifted their target price on Evolent Health from $45.00 to $50.00 and gave the company a “maintains” rating in a report on Wednesday. Piper Sandler lifted their target price on Evolent Health from $35.00 to $40.00 and gave the company a “maintains” rating in a report on Wednesday. Royal Bank of Canada reaffirmed an “initiates” rating on shares of Evolent Health in a report on Friday, July 29th. Finally, Cowen lifted their target price on Evolent Health from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, June 21st. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $45.22.

About Evolent Health

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Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.

See Also

Institutional Ownership by Quarter for Evolent Health (NYSE:EVH)

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