Hussman Strategic Advisors Inc. Acquires New Stake in Evolent Health, Inc. (NYSE:EVH)

Hussman Strategic Advisors Inc. acquired a new stake in Evolent Health, Inc. (NYSE:EVH) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 63,000 shares of the technology company’s stock, valued at approximately $709,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of Evolent Health by 12.8% in the 3rd quarter. Wellington Management Group LLP now owns 12,595,459 shares of the technology company’s stock worth $356,200,000 after acquiring an additional 1,426,747 shares during the last quarter. Eventide Asset Management LLC increased its stake in shares of Evolent Health by 1.7% in the 3rd quarter. Eventide Asset Management LLC now owns 3,804,104 shares of the technology company’s stock worth $107,580,000 after acquiring an additional 64,985 shares during the last quarter. State Street Corp increased its position in shares of Evolent Health by 1.0% during the 3rd quarter. State Street Corp now owns 2,725,375 shares of the technology company’s stock worth $77,074,000 after purchasing an additional 25,967 shares during the last quarter. Bellevue Group AG increased its position in shares of Evolent Health by 59.9% during the 3rd quarter. Bellevue Group AG now owns 2,670,050 shares of the technology company’s stock worth $75,509,000 after purchasing an additional 1,000,215 shares during the last quarter. Finally, Point72 Asset Management L.P. increased its position in shares of Evolent Health by 1,948.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,495,385 shares of the technology company’s stock worth $42,289,000 after purchasing an additional 1,422,385 shares during the last quarter.

Evolent Health Stock Performance

Shares of EVH opened at $10.71 on Friday. The stock has a 50-day simple moving average of $10.77 and a 200-day simple moving average of $18.92. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market capitalization of $1.25 billion, a PE ratio of -11.77 and a beta of 1.45. Evolent Health, Inc. has a 1 year low of $9.45 and a 1 year high of $35.00.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.35). Evolent Health had a negative net margin of 2.93% and a positive return on equity of 6.30%. On average, analysts predict that Evolent Health, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on EVH shares. Needham & Company LLC reissued a “buy” rating and set a $15.00 price objective on shares of Evolent Health in a research report on Wednesday, February 12th. JMP Securities reissued a “market outperform” rating and set a $12.00 price objective on shares of Evolent Health in a research report on Friday, February 14th. JPMorgan Chase & Co. cut their price objective on Evolent Health from $15.00 to $13.00 and set an “overweight” rating for the company in a research report on Tuesday, January 28th. UBS Group cut their price objective on Evolent Health from $27.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Finally, Oppenheimer lowered their target price on Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a report on Friday, January 24th. One equities research analyst has rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $17.92.

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.