AdvisorShares Investments LLC Purchases New Shares in Evolent Health, Inc. (NYSE:EVH)

AdvisorShares Investments LLC purchased a new stake in Evolent Health, Inc. (NYSE:EVHGet Rating) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 5,951 shares of the technology company’s stock, valued at approximately $192,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Qube Research & Technologies Ltd boosted its stake in Evolent Health by 87.3% during the 1st quarter. Qube Research & Technologies Ltd now owns 33,974 shares of the technology company’s stock worth $1,097,000 after purchasing an additional 15,840 shares during the last quarter. Aigen Investment Management LP acquired a new position in shares of Evolent Health during the 1st quarter valued at about $312,000. New York State Common Retirement Fund boosted its position in shares of Evolent Health by 1.2% during the 1st quarter. New York State Common Retirement Fund now owns 92,651 shares of the technology company’s stock valued at $2,993,000 after acquiring an additional 1,055 shares during the last quarter. Advisor Group Holdings Inc. boosted its position in shares of Evolent Health by 641.2% during the 1st quarter. Advisor Group Holdings Inc. now owns 30,054 shares of the technology company’s stock valued at $994,000 after acquiring an additional 25,999 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Evolent Health by 23.1% during the 1st quarter. Envestnet Asset Management Inc. now owns 35,999 shares of the technology company’s stock valued at $1,163,000 after acquiring an additional 6,761 shares during the last quarter. Institutional investors and hedge funds own 93.27% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Royal Bank of Canada boosted their price target on shares of Evolent Health from $40.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday. Cowen boosted their price target on shares of Evolent Health to $52.00 in a research report on Monday, July 25th. BTIG Research boosted their price objective on shares of Evolent Health from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday. Canaccord Genuity Group boosted their price objective on shares of Evolent Health from $45.00 to $55.00 and gave the company a “buy” rating in a report on Thursday. Finally, Cowen boosted their price objective on shares of Evolent Health from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, June 21st. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, Evolent Health presently has an average rating of “Moderate Buy” and an average price target of $46.78.

Evolent Health Price Performance

Shares of NYSE:EVH opened at $35.74 on Friday. The company has a current ratio of 1.23, a quick ratio of 1.21 and a debt-to-equity ratio of 0.46. The firm’s 50-day moving average is $31.26 and its two-hundred day moving average is $28.87. Evolent Health, Inc. has a 1 year low of $21.36 and a 1 year high of $39.00.

Evolent Health (NYSE:EVHGet Rating) last issued its quarterly earnings results on Wednesday, May 4th. The technology company reported $0.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.14. The company had revenue of $297.10 million for the quarter, compared to analyst estimates of $286.81 million. Evolent Health had a negative net margin of 2.63% and a positive return on equity of 0.41%. The business’s revenue for the quarter was up 37.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.06) earnings per share. Analysts anticipate that Evolent Health, Inc. will post -0.04 EPS for the current year.

Evolent Health Company Profile

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Evolent Health, Inc, a healthcare company, through its subsidiary, Evolent Health LLC, provides clinical and administrative solutions to payers and providers in the United States. It operates in two segments, Evolent Health Services and Clinical Solutions. The Evolent Health Services segment provides an integrated administrative and clinical platform for health plan administration and population health management.

Further Reading

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

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