Fox Run Management L.L.C. acquired a new position in Evolent Health, Inc (NYSE:EVH) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 14,300 shares of the technology company’s stock, valued at approximately $363,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in EVH. Russell Investments Group Ltd. acquired a new position in shares of Evolent Health during the fourth quarter worth $1,178,000. State Street Corp raised its position in shares of Evolent Health by 5.2% in the fourth quarter. State Street Corp now owns 250,000 shares of the technology company’s stock worth $3,699,000 after buying an additional 12,339 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Evolent Health by 134.7% in the fourth quarter. AQR Capital Management LLC now owns 25,657 shares of the technology company’s stock worth $380,000 after buying an additional 14,723 shares in the last quarter. Teachers Advisors LLC raised its position in shares of Evolent Health by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 25,119 shares of the technology company’s stock worth $372,000 after buying an additional 1,211 shares in the last quarter. Finally, Highbridge Capital Management LLC acquired a new position in shares of Evolent Health during the fourth quarter worth $1,390,000. 68.77% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Evolent Health, Inc (NYSE EVH) opened at 26.85 on Wednesday. Evolent Health, Inc has a 1-year low of $14.50 and a 1-year high of $27.50. The company’s 50 day moving average price is $25.71 and its 200-day moving average price is $21.98. The firm’s market cap is $1.55 billion.
Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.11. Evolent Health had a negative net margin of 17.69% and a negative return on equity of 7.06%. The business had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $104.38 million. During the same quarter in the prior year, the firm posted ($0.16) EPS. The business’s quarterly revenue was up 116.2% compared to the same quarter last year. Equities analysts expect that Evolent Health, Inc will post ($0.41) EPS for the current fiscal year.
EVH has been the topic of a number of recent analyst reports. Jefferies Group LLC reaffirmed a “buy” rating and set a $28.00 price objective on shares of Evolent Health in a report on Thursday, April 13th. Zacks Investment Research raised Evolent Health from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a report on Wednesday, May 3rd. TheStreet raised Evolent Health from a “d” rating to a “c-” rating in a report on Monday, May 22nd. Robert W. Baird initiated coverage on Evolent Health in a report on Thursday, June 1st. They set an “outperform” rating and a $30.00 price objective on the stock. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $32.00 price objective (up previously from $30.00) on shares of Evolent Health in a report on Monday, June 19th. One research analyst has rated the stock with a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Evolent Health currently has a consensus rating of “Buy” and a consensus price target of $29.73.
In other Evolent Health news, insider Tpg Growth Ii Advisors, Inc. sold 4,279,325 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $25.87, for a total value of $110,706,137.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Nicholas Mcgrane sold 1,667 shares of the business’s stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $25.42, for a total value of $42,375.14. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,552,342 shares of company stock valued at $261,328,655. Insiders own 8.79% of the company’s stock.
About Evolent Health
Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.
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