Evolent Health, Inc. (NYSE:EVH) Shares Purchased by Handelsbanken Fonder AB

Handelsbanken Fonder AB boosted its position in shares of Evolent Health, Inc. (NYSE:EVH) by 22.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,200 shares of the technology company’s stock after buying an additional 3,300 shares during the period. Handelsbanken Fonder AB’s holdings in Evolent Health were worth $601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. HB Wealth Management LLC purchased a new position in shares of Evolent Health during the fourth quarter worth about $1,425,000. Swiss National Bank lifted its position in Evolent Health by 8.1% during the 3rd quarter. Swiss National Bank now owns 235,300 shares of the technology company’s stock worth $6,407,000 after acquiring an additional 17,700 shares during the period. Wellington Management Group LLP grew its stake in shares of Evolent Health by 11.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock valued at $115,433,000 after purchasing an additional 449,664 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its holdings in shares of Evolent Health by 7.5% in the third quarter. Adage Capital Partners GP L.L.C. now owns 847,768 shares of the technology company’s stock valued at $23,085,000 after purchasing an additional 59,376 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Evolent Health by 14.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 858,996 shares of the technology company’s stock worth $23,390,000 after purchasing an additional 107,963 shares during the last quarter.

Evolent Health Stock Down 0.2 %

Evolent Health stock opened at $27.76 on Wednesday. Evolent Health, Inc. has a fifty-two week low of $23.33 and a fifty-two week high of $36.70. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of -21.86 and a beta of 1.54. The stock’s fifty day moving average is $31.71 and its two-hundred day moving average is $30.29. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.02 by $0.13. Evolent Health had a negative net margin of 5.76% and a positive return on equity of 6.60%. The company had revenue of $556.06 million for the quarter, compared to the consensus estimate of $541.87 million. Analysts predict that Evolent Health, Inc. will post 0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

EVH has been the topic of several recent research reports. Citigroup started coverage on shares of Evolent Health in a research note on Monday, April 22nd. They issued a “buy” rating and a $40.00 price objective on the stock. Canaccord Genuity Group cut their price target on shares of Evolent Health from $45.00 to $44.00 and set a “buy” rating for the company in a report on Thursday, March 28th. JMP Securities lifted their price objective on Evolent Health from $37.00 to $38.00 and gave the company a “market outperform” rating in a report on Friday, February 23rd. Barclays initiated coverage on Evolent Health in a research report on Wednesday, January 3rd. They set an “overweight” rating and a $39.00 target price on the stock. Finally, William Blair reissued an “outperform” rating on shares of Evolent Health in a report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, Evolent Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

Evolent Health Profile

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.