Charles Schwab Investment Management Inc. Cuts Stake in Evolent Health, Inc. (NYSE:EVH)

Charles Schwab Investment Management Inc. lowered its position in Evolent Health, Inc. (NYSE:EVH) by 4.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 912,395 shares of the technology company’s stock after selling 45,742 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.78% of Evolent Health worth $25,803,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Values First Advisors Inc. boosted its stake in shares of Evolent Health by 53.0% during the second quarter. Values First Advisors Inc. now owns 26,546 shares of the technology company’s stock valued at $508,000 after purchasing an additional 9,193 shares during the period. SeaCrest Wealth Management LLC boosted its stake in shares of Evolent Health by 6.3% during the second quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock valued at $195,000 after purchasing an additional 600 shares during the period. HMS Capital Management LLC boosted its stake in shares of Evolent Health by 42.5% during the second quarter. HMS Capital Management LLC now owns 10,569 shares of the technology company’s stock valued at $202,000 after purchasing an additional 3,150 shares during the period. Bank of New York Mellon Corp boosted its stake in shares of Evolent Health by 24.8% during the second quarter. Bank of New York Mellon Corp now owns 2,048,341 shares of the technology company’s stock valued at $39,164,000 after purchasing an additional 406,837 shares during the period. Finally, HB Wealth Management LLC boosted its stake in shares of Evolent Health by 10.7% during the second quarter. HB Wealth Management LLC now owns 47,740 shares of the technology company’s stock valued at $913,000 after purchasing an additional 4,601 shares during the period.

Evolent Health Stock Down 2.1 %

EVH stock opened at $11.27 on Friday. Evolent Health, Inc. has a fifty-two week low of $11.10 and a fifty-two week high of $35.00. The business’s 50 day moving average price is $20.09 and its two-hundred day moving average price is $23.02. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The company has a market capitalization of $1.31 billion, a price-to-earnings ratio of -12.38 and a beta of 1.45.

Analysts Set New Price Targets

A number of analysts have recently weighed in on EVH shares. JPMorgan Chase & Co. dropped their price objective on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. JMP Securities dropped their price objective on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Oppenheimer dropped their price objective on Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, November 18th. Barclays dropped their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a research report on Tuesday, November 12th. One analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $26.18.

Evolent Health Company 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.