Handelsbanken Fonder AB Boosts Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Handelsbanken Fonder AB lifted its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 25.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,300 shares of the technology company’s stock after buying an additional 5,400 shares during the quarter. Handelsbanken Fonder AB’s holdings in Evolent Health were worth $296,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Covestor Ltd increased its stake in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock valued at $40,000 after purchasing an additional 826 shares during the last quarter. R Squared Ltd purchased a new stake in Evolent Health in the 4th quarter valued at $31,000. KBC Group NV increased its stake in Evolent Health by 124.6% in the fourth quarter. KBC Group NV now owns 6,741 shares of the technology company’s stock valued at $76,000 after purchasing an additional 3,739 shares during the period. US Bancorp DE boosted its stake in shares of Evolent Health by 180.3% during the third quarter. US Bancorp DE now owns 6,579 shares of the technology company’s stock worth $186,000 after buying an additional 4,232 shares during the period. Finally, Chicago Partners Investment Group LLC grew its holdings in shares of Evolent Health by 50.0% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,643 shares of the technology company’s stock worth $153,000 after buying an additional 4,547 shares during the last quarter.

Evolent Health Price Performance

EVH stock opened at $8.81 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. Evolent Health, Inc. has a 1 year low of $8.40 and a 1 year high of $35.00. The stock’s 50 day moving average price is $10.56 and its 200 day moving average price is $18.14. The firm has a market cap of $1.03 billion, a P/E ratio of -10.74 and a beta of 1.45.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business had revenue of $646.54 million during the quarter, compared to analysts’ expectations of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. On average, sell-side analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on EVH shares. UBS Group reduced their price objective on Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research note on Thursday, January 16th. Stephens cut their target price on Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Citigroup cut their price target on shares of Evolent Health from $21.00 to $18.00 and set a “buy” rating for the company in a report on Friday, January 10th. Piper Sandler reissued an “overweight” rating and set a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a report on Friday, February 21st. Finally, Truist Financial lowered their price target on Evolent Health from $20.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $17.79.

About Evolent Health

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.