Gamco Investors INC. ET AL Sells 288,000 Shares of Evolent Health, Inc $EVH

Gamco Investors INC. ET AL cut its stake in shares of Evolent Health, Inc (NYSE:EVH) by 49.9% during the first quarter, HoldingsChannel.com reports. The fund owned 289,500 shares of the technology company’s stock after selling 288,000 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Evolent Health were worth $660,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Sei Investments Co. boosted its holdings in shares of Evolent Health by 50.8% in the first quarter. Sei Investments Co. now owns 302,281 shares of the technology company’s stock valued at $689,000 after purchasing an additional 101,867 shares during the period. State of Wyoming increased its holdings in Evolent Health by 54.7% during the 1st quarter. State of Wyoming now owns 121,751 shares of the technology company’s stock worth $278,000 after purchasing an additional 43,061 shares during the period. First Trust Advisors LP purchased a new position in Evolent Health during the 1st quarter worth $488,000. Wealthfront Advisers LLC raised its position in Evolent Health by 40.8% during the 1st quarter. Wealthfront Advisers LLC now owns 28,083 shares of the technology company’s stock valued at $64,000 after purchasing an additional 8,136 shares in the last quarter. Finally, R Squared Ltd bought a new stake in Evolent Health during the 1st quarter valued at $26,000.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EVH. Canaccord Genuity Group upped their target price on Evolent Health from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Tuesday, July 21st. TD Cowen decreased their price objective on Evolent Health from $8.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday. Citigroup restated a “sell” rating and issued a $6.75 price objective (up from $5.50) on shares of Evolent Health in a report on Thursday, July 23rd. Truist Financial cut shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 target price on the stock. in a report on Tuesday, June 30th. Finally, Weiss Ratings cut shares of Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a report on Tuesday, July 21st. Eleven investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, Evolent Health currently has an average rating of “Moderate Buy” and an average target price of $6.16.

Evolent Health Trading Down 11.9%

Shares of NYSE:EVH opened at $3.29 on Thursday. The company has a market capitalization of $370.62 million, a PE ratio of -0.69 and a beta of 0.76. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 2.46. Evolent Health, Inc has a 12-month low of $2.10 and a 12-month high of $10.30. The business’s fifty day simple moving average is $4.83 and its 200-day simple moving average is $3.75.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Evolent Health had a positive return on equity of 0.36% and a negative net margin of 26.29%.The firm had revenue of $496.25 million during the quarter, compared to analysts’ expectations of $534.00 million. During the same period in the prior year, the business posted $0.06 EPS. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, equities research analysts predict that Evolent Health, Inc will post -0.16 earnings per share for the current fiscal year.

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.