Evolent Health, Inc $EVH Shares Bought by Rock Point Advisors LLC

Rock Point Advisors LLC grew its position in shares of Evolent Health, Inc (NYSE:EVH) by 21.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,190,156 shares of the technology company’s stock after purchasing an additional 211,707 shares during the period. Rock Point Advisors LLC’s holdings in Evolent Health were worth $4,761,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. CIBC Private Wealth Group LLC lifted its stake in Evolent Health by 4,000.0% during the third quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after purchasing an additional 4,000 shares in the last quarter. Strs Ohio acquired a new position in Evolent Health during the first quarter worth $47,000. Headlands Technologies LLC acquired a new position in Evolent Health during the second quarter worth $58,000. Pilgrim Partners Asia Pte Ltd acquired a new position in Evolent Health during the third quarter worth $51,000. Finally, State of Alaska Department of Revenue acquired a new position in Evolent Health during the third quarter worth $56,000.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EVH. Weiss Ratings restated a “sell (e+)” rating on shares of Evolent Health in a research note on Friday, March 27th. BTIG Research cut their price objective on Evolent Health from $10.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. UBS Group cut their price objective on Evolent Health from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Oppenheimer cut their price objective on Evolent Health from $12.00 to $6.00 and set an “outperform” rating on the stock in a research report on Monday, March 2nd. Finally, Canaccord Genuity Group upped their price objective on Evolent Health from $4.00 to $6.00 and gave the stock a “buy” rating in a research report on Tuesday. Thirteen investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $5.88.

Evolent Health Stock Up 5.2%

Shares of Evolent Health stock opened at $4.17 on Wednesday. Evolent Health, Inc has a 52-week low of $2.10 and a 52-week high of $12.06. The company has a 50 day moving average of $2.99 and a 200 day moving average of $3.72. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 2.46. The company has a market capitalization of $464.98 million, a P/E ratio of -0.88 and a beta of 0.83.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.03. Evolent Health had a negative net margin of 26.29% and a positive return on equity of 0.36%. The company had revenue of $496.25 million during the quarter, compared to the consensus estimate of $534.00 million. During the same quarter in the previous year, the firm earned $0.06 earnings per share. The firm’s quarterly revenue was up 2.6% on a year-over-year basis. As a group, research analysts forecast that Evolent Health, Inc will post -0.23 EPS 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.