Evolent Health, Inc $EVH Shares Purchased by Nordea Investment Management AB

Nordea Investment Management AB increased its position in shares of Evolent Health, Inc (NYSE:EVH) by 3.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,103 shares of the technology company’s stock after acquiring an additional 4,101 shares during the quarter. Nordea Investment Management AB’s holdings in Evolent Health were worth $1,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its holdings in Evolent Health by 162.2% in 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 buying an additional 1,754,520 shares during the period. Eventide Asset Management LLC raised its holdings in Evolent Health by 33.5% in the 1st quarter. Eventide Asset Management LLC now owns 6,077,191 shares of the technology company’s stock valued at $57,555,000 after buying an additional 1,524,885 shares during the period. Federated Hermes Inc. raised its holdings in Evolent Health by 122.9% in the 1st quarter. Federated Hermes Inc. now owns 1,015,444 shares of the technology company’s stock valued at $9,616,000 after buying an additional 559,837 shares during the period. First Light Asset Management LLC raised its holdings in Evolent Health by 991.8% in the 1st quarter. First Light Asset Management LLC now owns 585,436 shares of the technology company’s stock valued at $5,544,000 after buying an additional 531,816 shares during the period. Finally, Brighton Jones LLC purchased a new stake in Evolent Health in the 4th quarter valued at about $3,927,000.

Evolent Health Stock Down 7.0%

Shares of NYSE:EVH opened at $7.51 on Friday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $882.85 million, a PE ratio of -4.67 and a beta of 0.66. The firm’s 50-day moving average is $8.74 and its two-hundred day moving average is $9.26. Evolent Health, Inc has a 1 year low of $7.06 and a 1 year high of $25.22.

Evolent Health (NYSE:EVH) last released its earnings results on Tuesday, June 4th. The technology company reported $0.21 earnings per share for the quarter. Evolent Health had a negative net margin of 5.94% and a positive return on equity of 1.83%. The firm had revenue of $427.70 million for the quarter. Analysts predict that Evolent Health, Inc will post 0.08 EPS for the current year.

Analyst Upgrades and Downgrades

EVH has been the topic of several research analyst reports. BTIG Research restated a “buy” rating and issued a $20.00 price objective on shares of Evolent Health in a report on Tuesday, September 30th. Stephens restated an “equal weight” rating and issued a $9.00 price objective on shares of Evolent Health in a report on Wednesday, September 24th. Canaccord Genuity Group restated a “buy” rating and issued a $16.00 price objective on shares of Evolent Health in a report on Tuesday, September 9th. Zacks Research lowered shares of Evolent Health from a “hold” rating to a “strong sell” rating in a report on Friday, October 10th. Finally, Piper Sandler boosted their price target on shares of Evolent Health from $16.00 to $18.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Twelve investment analysts have rated the stock with a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Evolent Health currently has an average rating of “Moderate Buy” and a consensus price target of $15.85.

Evolent Health Company Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, offers specialty care management services in oncology, cardiology, and musculoskeletal markets in the United States. The company provides platform for health plan administration and value-based business infrastructure. It offers administrative services, such as health plan services, pharmacy benefits management, risk management, analytics and reporting, and leadership and management; and Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows, and engages patients.