William Blair Investment Management LLC Trims Holdings in Evolent Health, Inc $EVH

William Blair Investment Management LLC lowered its holdings in shares of Evolent Health, Inc (NYSE:EVH) by 6.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,035,475 shares of the technology company’s stock after selling 289,408 shares during the period. William Blair Investment Management LLC owned approximately 3.43% of Evolent Health worth $34,140,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nisa Investment Advisors LLC lifted its holdings in shares of Evolent Health by 88.0% during the second quarter. Nisa Investment Advisors LLC now owns 2,551 shares of the technology company’s stock valued at $29,000 after purchasing an additional 1,194 shares during the last quarter. Strs Ohio purchased a new position in shares of Evolent Health in the 1st quarter worth about $47,000. Pilgrim Partners Asia Pte Ltd bought a new position in Evolent Health in the 3rd quarter worth about $51,000. State of Alaska Department of Revenue purchased a new stake in Evolent Health during the 3rd quarter valued at about $56,000. Finally, Headlands Technologies LLC bought a new stake in Evolent Health during the 2nd quarter valued at about $58,000.

Analyst Ratings Changes

EVH has been the topic of several analyst reports. Wall Street Zen upgraded shares of Evolent Health from a “sell” rating to a “hold” rating in a research note on Saturday. BTIG Research reduced their price target on shares of Evolent Health from $10.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Canaccord Genuity Group lowered their price objective on Evolent Health from $16.00 to $9.00 and set a “buy” rating on the stock in a research report on Friday, November 14th. UBS Group cut their target price on Evolent Health from $10.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Oppenheimer reduced their target price on Evolent Health from $18.00 to $12.00 and set an “outperform” rating for the company in a report on Wednesday, November 12th. Twelve research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

Evolent Health Trading Down 2.0%

Shares of EVH stock opened at $3.26 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 2.34. Evolent Health, Inc has a 12-month low of $2.50 and a 12-month high of $12.06. The stock has a market capitalization of $363.26 million, a P/E ratio of -0.63 and a beta of 0.24. The firm’s 50 day moving average is $3.49 and its 200 day moving average is $5.75.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Tuesday, February 24th. The technology company reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.02. The firm had revenue of $468.72 million for the quarter, compared to analysts’ expectations of $468.48 million. Evolent Health had a positive return on equity of 1.49% and a negative net margin of 28.49%.The company’s revenue was down 27.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) EPS. Research analysts expect that Evolent Health, Inc will post 0.08 earnings per share for the current year.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.