BNP Paribas Arbitrage SA Increases Holdings in Evolent Health, Inc. (NYSE:EVH)

BNP Paribas Arbitrage SA lifted its position in Evolent Health, Inc. (NYSE:EVH) by 94.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,588 shares of the technology company’s stock after purchasing an additional 13,917 shares during the period. BNP Paribas Arbitrage SA’s holdings in Evolent Health were worth $577,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Swiss National Bank boosted its holdings in shares of Evolent Health by 1.1% in the first quarter. Swiss National Bank now owns 176,400 shares of the technology company’s stock valued at $3,563,000 after purchasing an additional 2,000 shares during the period. Alliancebernstein L.P. boosted its holdings in shares of Evolent Health by 2.3% in the first quarter. Alliancebernstein L.P. now owns 93,300 shares of the technology company’s stock valued at $1,885,000 after purchasing an additional 2,100 shares during the period. Great Lakes Advisors LLC boosted its holdings in shares of Evolent Health by 4.7% in the first quarter. Great Lakes Advisors LLC now owns 837,830 shares of the technology company’s stock valued at $16,924,000 after purchasing an additional 37,387 shares during the period. Spearhead Capital Advisors LLC purchased a new stake in Evolent Health during the first quarter worth $428,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in Evolent Health during the first quarter worth $155,000. Hedge funds and other institutional investors own 93.92% of the company’s stock.

In related news, COO Steve Tutewohl sold 19,295 shares of the company’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $21.48, for a total value of $414,456.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Frank J. Williams sold 20,000 shares of the company’s stock in a transaction on Monday, May 17th. The shares were sold at an average price of $19.73, for a total value of $394,600.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,295 shares of company stock worth $1,236,457. 4.20% of the stock is owned by insiders.

Shares of EVH stock opened at $19.27 on Friday. The business’s fifty day simple moving average is $19.91. The firm has a market capitalization of $1.68 billion, a P/E ratio of -6.20 and a beta of 2.38. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.23 and a current ratio of 1.23. Evolent Health, Inc. has a 12-month low of $5.22 and a 12-month high of $22.35.

Evolent Health (NYSE:EVH) last released its earnings results on Wednesday, May 5th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.09. Evolent Health had a negative return on equity of 3.40% and a negative net margin of 26.79%. As a group, sell-side analysts forecast that Evolent Health, Inc. will post -0.4 earnings per share for the current year.

A number of analysts have weighed in on EVH shares. BTIG Research upped their target price on Evolent Health from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 26th. Zacks Investment Research lowered Evolent Health from a “buy” rating to a “hold” rating in a report on Thursday, May 13th. JPMorgan Chase & Co. started coverage on Evolent Health in a report on Thursday, April 29th. They set a “neutral” rating for the company. Cowen upped their target price on Evolent Health from $19.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, February 26th. Finally, Canaccord Genuity upped their price target on Evolent Health from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Monday, March 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Evolent Health currently has an average rating of “Buy” and an average target price of $19.80.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates through two segments, Services and True Health. The Services segment provides value-based care services that include Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows and engages patients; population health performance that delivers patient-centric cost effective care; and delivery network alignments.

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Institutional Ownership by Quarter for Evolent Health (NYSE:EVH)

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