IMA Wealth Inc. raised its stake in Evolent Health Inc (NYSE:EVH) by 11.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 142,642 shares of the technology company’s stock after acquiring an additional 14,967 shares during the period. Evolent Health makes up 1.6% of IMA Wealth Inc.’s portfolio, making the stock its 16th largest holding. IMA Wealth Inc. owned approximately 0.18% of Evolent Health worth $4,051,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in EVH. NumerixS Investment Technologies Inc bought a new stake in shares of Evolent Health in the 2nd quarter worth about $105,000. LPL Financial LLC bought a new stake in shares of Evolent Health in the 1st quarter worth about $184,000. Xact Kapitalforvaltning AB bought a new stake in shares of Evolent Health in the 1st quarter worth about $190,000. Paloma Partners Management Co bought a new stake in shares of Evolent Health in the 2nd quarter worth about $209,000. Finally, Brown Advisory Inc. bought a new stake in shares of Evolent Health in the 2nd quarter worth about $210,000.
A number of analysts have recently weighed in on EVH shares. Cantor Fitzgerald restated a “buy” rating and issued a $37.00 target price on shares of Evolent Health in a report on Wednesday, September 12th. Jefferies Financial Group restated a “buy” rating and issued a $25.00 target price on shares of Evolent Health in a report on Tuesday, August 7th. KeyCorp boosted their target price on shares of Evolent Health from $26.00 to $28.00 and gave the stock an “overweight” rating in a report on Monday, August 20th. ValuEngine upgraded shares of Evolent Health from a “buy” rating to a “strong-buy” rating in a report on Friday, September 14th. Finally, Citigroup lifted their price target on shares of Evolent Health from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, October 4th. One analyst has rated the stock with a sell rating and twelve have given a buy rating to the company. Evolent Health currently has an average rating of “Buy” and an average target price of $31.73.
Shares of EVH stock traded down $0.67 during trading hours on Friday, reaching $25.19. 715,700 shares of the stock were exchanged, compared to its average volume of 887,992. Evolent Health Inc has a 12-month low of $10.30 and a 12-month high of $29.05. The company has a current ratio of 2.59, a quick ratio of 2.59 and a debt-to-equity ratio of 0.12. The stock has a market cap of $1.80 billion, a PE ratio of -35.99 and a beta of 1.50.
Evolent Health (NYSE:EVH) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.04) EPS for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.07. The firm had revenue of $150.16 million during the quarter, compared to analysts’ expectations of $142.94 million. Evolent Health had a negative net margin of 9.05% and a negative return on equity of 2.18%. The firm’s revenue for the quarter was up 38.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.18) EPS. Sell-side analysts forecast that Evolent Health Inc will post -0.36 EPS for the current year.
In other Evolent Health news, CEO Frank J. Williams sold 41,015 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $24.02, for a total value of $985,180.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Thomas Peterson III sold 70,000 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $27.50, for a total transaction of $1,925,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 204,607 shares of company stock valued at $5,240,751. 4.82% of the stock is owned by corporate insiders.
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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