140,267 Shares in Evolent Health, Inc $EVH Acquired by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio bought a new position in Evolent Health, Inc (NYSE:EVH) in the second quarter, Holdings Channel.com reports. The fund bought 140,267 shares of the technology company’s stock, valued at approximately $760,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Durable Capital Partners LP bought a new position in Evolent Health during the 2nd quarter valued at $72,326,000. Rubicon Founders LLC bought a new stake in shares of Evolent Health in the 3rd quarter worth $49,204,000. 8 Knots Management LLC acquired a new stake in shares of Evolent Health in the second quarter valued at $32,802,000. Goldman Sachs Group Inc. lifted its holdings in shares of Evolent Health by 162.2% in the first quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after buying an additional 1,754,520 shares during the period. Finally, Maverick Capital Ltd. boosted its stake in Evolent Health by 1.3% during the first quarter. Maverick Capital Ltd. now owns 2,572,763 shares of the technology company’s stock valued at $5,866,000 after buying an additional 32,833 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EVH shares. TD Cowen lifted their target price on Evolent Health from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Monday, August 17th. JPMorgan Chase & Co. upped their price target on shares of Evolent Health from $5.00 to $6.00 and gave the company an “overweight” rating in a report on Tuesday, August 18th. Truist Financial reduced their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “hold” rating for the company in a research report on Wednesday, August 12th. Canaccord Genuity Group lowered their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, August 10th. Finally, Weiss Ratings upgraded shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a report on Tuesday, September 1st. Eleven investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.96.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $4.12 on Thursday. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 2.52. The stock has a market capitalization of $466.37 million, a price-to-earnings ratio of -0.90 and a beta of 0.84. The stock’s fifty day simple moving average is $4.63 and its 200 day simple moving average is $3.93. Evolent Health, Inc has a 52-week low of $2.10 and a 52-week high of $10.06.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, August 6th. The technology company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.The business had revenue of $484.50 million during the quarter, compared to the consensus estimate of $597.70 million. During the same period in the prior year, the business posted ($0.10) earnings per share. Evolent Health’s revenue was up 46.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Evolent Health, Inc will post -0.25 earnings per share for the current fiscal year.

Insider Transactions at Evolent Health

In other Evolent Health news, President Daniel Mccarthy sold 65,892 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $5.00, for a total transaction of $329,460.00. Following the sale, the president owned 655,133 shares in the company, valued at approximately $3,275,665. The trade was a 9.14% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.48% of the company’s stock.

About Evolent Health

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.