Evolent Health, Inc. (NYSE:EVH) Position Raised by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in shares of Evolent Health, Inc. (NYSE:EVH) by 8.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 62,455 shares of the technology company’s stock after purchasing an additional 5,073 shares during the quarter. Principal Financial Group Inc. owned about 0.05% of Evolent Health worth $703,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Royce & Associates LP acquired a new stake in shares of Evolent Health in the third quarter valued at $7,070,000. Foundry Partners LLC acquired a new stake in Evolent Health in the 3rd quarter valued at about $10,042,000. Salem Investment Counselors Inc. boosted its position in shares of Evolent Health by 53.0% during the 4th quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock valued at $3,939,000 after purchasing an additional 121,369 shares in the last quarter. Nordea Investment Management AB grew its stake in shares of Evolent Health by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after purchasing an additional 8,552 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its stake in shares of Evolent Health by 90.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock worth $9,036,000 after purchasing an additional 380,790 shares during the last quarter.

Evolent Health Stock Performance

EVH stock opened at $9.32 on Friday. The firm has a 50 day simple moving average of $10.45 and a 200 day simple moving average of $17.94. Evolent Health, Inc. has a 52 week low of $8.35 and a 52 week high of $34.84. The stock has a market cap of $1.09 billion, a P/E ratio of -11.36 and a beta of 1.45. 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 (NYSE:EVH) last issued its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. The company had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Research analysts anticipate that Evolent Health, Inc. will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Evolent Health news, Director Brendan B. Springstubb bought 5,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was bought at an average cost of $8.75 per share, with a total value of $43,750.00. Following the completion of the transaction, the director now directly owns 11,842 shares of the company’s stock, valued at approximately $103,617.50. The trade was a 73.08 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on EVH. Piper Sandler restated an “overweight” rating and set a $16.00 target price (down from $17.00) on shares of Evolent Health in a report on Friday, February 21st. 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. Royal Bank of Canada cut their target price on Evolent Health from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Tuesday, January 14th. BTIG Research decreased their price target on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a research report on Tuesday, December 3rd. Finally, Truist Financial cut their price objective 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 analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Evolent Health presently has a consensus rating of “Buy” and an average target price of $17.79.

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.