Short Interest in Evolent Health, Inc. (NYSE:EVH) Increases By 7.3%

Evolent Health, Inc. (NYSE:EVH) was the recipient of a significant increase in short interest in the month of April. As of April 15th, there was short interest totalling 11,380,000 shares, an increase of 7.3% from the March 31st total of 10,610,000 shares. Based on an average daily trading volume, of 934,800 shares, the short-interest ratio is currently 12.2 days.

Evolent Health Stock Performance

Shares of EVH stock opened at $27.27 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Evolent Health has a fifty-two week low of $23.33 and a fifty-two week high of $36.42. The company has a market capitalization of $3.15 billion, a P/E ratio of -21.47 and a beta of 1.57. The stock has a 50 day moving average price of $31.60 and a two-hundred day moving average price of $30.27.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.13. The business had revenue of $556.06 million during the quarter, compared to analysts’ expectations of $541.87 million. Evolent Health had a negative net margin of 5.76% and a positive return on equity of 6.60%. Analysts expect that Evolent Health will post 0.87 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have commented on EVH. Barclays began coverage on shares of Evolent Health in a report on Wednesday, January 3rd. They issued an “overweight” rating and a $39.00 price target for the company. Oppenheimer initiated coverage on shares of Evolent Health in a research report on Friday, March 1st. They set an “outperform” rating and a $45.00 price objective on the stock. JPMorgan Chase & Co. lowered their price target on Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, March 15th. William Blair reiterated an “outperform” rating on shares of Evolent Health in a research report on Tuesday, January 9th. Finally, JMP Securities upped their target price on Evolent Health from $37.00 to $38.00 and gave the stock a “market outperform” rating in a research note on Friday, February 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $42.70.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. HB Wealth Management LLC purchased a new stake in shares of Evolent Health in the 4th quarter worth about $1,425,000. Swiss National Bank boosted its position in Evolent Health by 8.1% during the 3rd quarter. Swiss National Bank now owns 235,300 shares of the technology company’s stock valued at $6,407,000 after acquiring an additional 17,700 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Evolent Health by 11.9% during the 3rd quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock worth $115,433,000 after acquiring an additional 449,664 shares during the period. Cetera Trust Company N.A bought a new position in shares of Evolent Health in the 4th quarter worth approximately $303,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake in shares of Evolent Health by 7.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 847,768 shares of the technology company’s stock valued at $23,085,000 after purchasing an additional 59,376 shares during the period.

Evolent Health Company Profile

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.