Evolent Health, Inc. (NYSE:EVH) Short Interest Update

Evolent Health, Inc. (NYSE:EVH) saw a large growth in short interest in June. As of June 15th, there was short interest totalling 12,380,000 shares, a growth of 7.3% from the May 31st total of 11,540,000 shares. Based on an average daily trading volume, of 1,240,000 shares, the short-interest ratio is presently 10.0 days.

Analyst Ratings Changes

EVH has been the subject of several research reports. JMP Securities reduced their price objective on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating for the company in a research note on Friday, May 10th. JPMorgan Chase & Co. dropped their price target on Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. Canaccord Genuity Group reduced their price objective on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Citigroup began coverage on shares of Evolent Health in a research report on Monday, April 22nd. They issued a “buy” rating and a $40.00 target price on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

Institutional Trading of Evolent Health

A number of institutional investors and hedge funds have recently modified their holdings of the company. Wellington Management Group LLP lifted its position in shares of Evolent Health by 96.1% during the 4th quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after buying an additional 4,073,959 shares during the period. RA Capital Management L.P. lifted its holdings in shares of Evolent Health by 125.0% during the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock valued at $188,088,000 after acquiring an additional 3,187,000 shares during the period. Norges Bank acquired a new stake in shares of Evolent Health in the 4th quarter valued at $43,759,000. Point72 Asset Management L.P. grew its holdings in shares of Evolent Health by 81.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock worth $88,355,000 after purchasing an additional 1,199,400 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC increased its position in shares of Evolent Health by 126.5% during the 1st quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock worth $18,547,000 after purchasing an additional 315,875 shares in the last quarter.

Evolent Health Stock Performance

Shares of Evolent Health stock traded up $0.49 on Wednesday, reaching $19.74. The stock had a trading volume of 1,283,505 shares, compared to its average volume of 1,214,670. Evolent Health has a fifty-two week low of $17.98 and a fifty-two week high of $35.00. The business’s 50-day moving average price is $23.35 and its two-hundred day moving average price is $28.72. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The stock has a market cap of $2.29 billion, a P/E ratio of -15.79 and a beta of 1.54.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, May 9th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The firm had revenue of $639.65 million for the quarter, compared to analyst estimates of $601.60 million. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. On average, sell-side analysts forecast that Evolent Health will post 0.9 EPS for the current year.

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.