Nordea Investment Management AB Grows Stake in Evolent Health, Inc. (NYSE:EVH)

Nordea Investment Management AB grew its position in shares of Evolent Health, Inc. (NYSE:EVH) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,453 shares of the technology company’s stock after purchasing an additional 8,552 shares during the period. Nordea Investment Management AB owned approximately 0.11% of Evolent Health worth $1,469,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Evolent Health by 12.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock valued at $356,200,000 after purchasing an additional 1,426,747 shares in the last quarter. Engaged Capital LLC grew its position in shares of Evolent Health by 26.1% during the 2nd quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock valued at $78,611,000 after purchasing an additional 850,000 shares in the last quarter. Eventide Asset Management LLC grew its position in shares of Evolent Health by 1.7% during the 3rd quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock valued at $107,580,000 after purchasing an additional 64,985 shares in the last quarter. State Street Corp grew its position in shares of Evolent Health by 1.0% during the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock valued at $77,074,000 after purchasing an additional 25,967 shares in the last quarter. Finally, Bellevue Group AG grew its position in shares of Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock valued at $75,509,000 after purchasing an additional 1,000,215 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have recently issued reports on EVH shares. JMP Securities dropped their price objective on shares of Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a report on Friday. Citigroup dropped their price objective on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday. Needham & Company LLC started coverage on shares of Evolent Health in a report on Friday. They set a “buy” rating and a $15.00 price objective for the company. Barclays dropped their price objective on shares of Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of Evolent Health in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Evolent Health has an average rating of “Buy” and a consensus target price of $23.92.

Evolent Health Stock Performance

Evolent Health stock opened at $12.57 on Monday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.47 billion, a PE ratio of -13.81 and a beta of 1.45. The firm has a fifty day simple moving average of $12.91 and a two-hundred day simple moving average of $21.03. Evolent Health, Inc. has a twelve month low of $10.53 and a twelve month high of $35.00.

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.