Edgestream Partners L.P. Invests $2 Million in Evolent Health, Inc. (NYSE:EVH)

Edgestream Partners L.P. acquired a new position in shares of Evolent Health, Inc. (NYSE:EVH) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 177,372 shares of the technology company’s stock, valued at approximately $1,995,000.

Several other hedge funds also recently modified their holdings of the company. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Evolent Health during the fourth quarter worth approximately $1,713,000. Raymond James Financial Inc. acquired a new stake in shares of Evolent Health during the fourth quarter worth approximately $2,542,000. WoodTrust Financial Corp increased its holdings in shares of Evolent Health by 28.7% during the fourth quarter. WoodTrust Financial Corp now owns 54,900 shares of the technology company’s stock worth $618,000 after buying an additional 12,250 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Evolent Health by 0.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 918,992 shares of the technology company’s stock worth $10,339,000 after buying an additional 6,597 shares in the last quarter. Finally, Levin Capital Strategies L.P. acquired a new stake in shares of Evolent Health during the fourth quarter worth approximately $664,000.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on EVH shares. Stephens dropped their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Canaccord Genuity Group lowered their price target on shares of Evolent Health from $23.00 to $16.00 and set a “buy” rating for the company in a report on Thursday, January 23rd. Truist Financial lowered their price target on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday, January 22nd. BTIG Research lowered their price target on shares of Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday, December 3rd. Finally, JPMorgan Chase & Co. lowered their price target on shares of Evolent Health from $15.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. One equities research analyst has rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $17.79.

Insider Transactions at Evolent Health

In other news, Director Brendan B. Springstubb purchased 5,000 shares of Evolent Health stock in a transaction dated Tuesday, March 4th. The shares were 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 in the company, valued at $103,617.50. This trade represents a 73.08 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Evolent Health Price Performance

EVH opened at $8.99 on Monday. The company has a fifty day moving average price of $10.37 and a two-hundred day moving average price of $17.61. 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 52 week low of $8.35 and a 52 week high of $34.84. The firm has a market capitalization of $1.05 billion, a PE ratio of -10.96 and a beta of 1.49.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The firm had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a positive return on equity of 5.73% and a negative net margin of 2.41%. As a group, analysts anticipate that Evolent Health, Inc. will post 0.08 earnings per share for the current year.

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.