First Trust Advisors LP Takes Position in Evolent Health, Inc $EVH

First Trust Advisors LP acquired a new stake in Evolent Health, Inc (NYSE:EVH) in the 1st quarter, HoldingsChannel.com reports. The firm acquired 214,159 shares of the technology company’s stock, valued at approximately $488,000.

A number of other large investors have also recently bought and sold shares of EVH. Durable Capital Partners LP bought a new position in Evolent Health during the second quarter valued at about $72,326,000. Rubicon Founders LLC bought a new stake in shares of Evolent Health during the 3rd quarter worth about $49,204,000. 8 Knots Management LLC acquired a new position in shares of Evolent Health during the 2nd quarter valued at about $32,802,000. Goldman Sachs Group Inc. increased its holdings in shares of Evolent Health by 162.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after acquiring an additional 1,754,520 shares during the last quarter. Finally, Maverick Capital Ltd. raised its stake in shares of Evolent Health by 6.0% in the 4th quarter. Maverick Capital Ltd. now owns 2,539,930 shares of the technology company’s stock valued at $10,160,000 after acquiring an additional 144,646 shares in the last quarter.

Evolent Health Trading Up 3.9%

Evolent Health stock opened at $4.08 on Wednesday. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.24 and a current ratio of 1.24. The business’s 50-day simple moving average is $4.75 and its 200-day simple moving average is $3.72. The firm has a market capitalization of $459.48 million, a PE ratio of -0.89 and a beta of 0.79. Evolent Health, Inc has a 52 week low of $2.10 and a 52 week high of $10.08.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. The firm had revenue of $484.50 million during the quarter, compared to the consensus estimate of $597.70 million. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.The firm’s revenue for the quarter was up 46.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.10) EPS. Equities research analysts forecast that Evolent Health, Inc will post -0.16 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Canaccord Genuity Group reduced their target price on Evolent Health from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday. Truist Financial downgraded Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 price target on the stock. in a report on Tuesday, June 30th. Weiss Ratings raised shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. TD Cowen reduced their price objective on shares of Evolent Health from $8.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. Finally, Needham & Company LLC upped their price objective on shares of Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.04.

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.