Salem Investment Counselors Inc. Has $3.94 Million Stake in Evolent Health, Inc. (NYSE:EVH)

Salem Investment Counselors Inc. raised its holdings in Evolent Health, Inc. (NYSE:EVH) by 53.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 350,155 shares of the technology company’s stock after acquiring an additional 121,369 shares during the period. Salem Investment Counselors Inc.’s holdings in Evolent Health were worth $3,939,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new stake in shares of Evolent Health during the 2nd quarter worth approximately $32,000. Covestor Ltd boosted 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 worth $40,000 after purchasing an additional 826 shares in the last quarter. GAMMA Investing LLC boosted its stake in Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after purchasing an additional 1,556 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Evolent Health during the second quarter worth $61,000. Finally, Quest Partners LLC bought a new stake in shares of Evolent Health during the second quarter worth $87,000.

Evolent Health Stock Down 1.9 %

Shares of EVH stock traded down $0.24 on Monday, hitting $12.30. 471,135 shares of the stock were exchanged, compared to its average volume of 1,417,170. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average of $12.91 and a 200 day moving average of $21.03. The firm has a market capitalization of $1.43 billion, a P/E ratio of -13.52 and a beta of 1.45. Evolent Health, Inc. has a fifty-two week low of $10.53 and a fifty-two week high of $35.00.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on EVH shares. JMP Securities dropped their target price on Evolent Health from $27.00 to $18.00 and set a “market outperform” rating for the company in a research report on Friday. Barclays dropped their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, November 11th. KeyCorp initiated coverage on Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective for the company. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $38.00 to $16.00 in a report on Friday, November 8th. Finally, Oppenheimer dropped their price objective on Evolent Health from $34.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, November 18th. One research analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Evolent Health has a consensus rating of “Buy” and an average target price of $22.83.

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.