Covestor Ltd Raises Holdings in Evolent Health, Inc. (NYSE:EVH)

Covestor Ltd lifted its holdings in shares of Evolent Health, Inc. (NYSE:EVH) by 138.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,424 shares of the technology company’s stock after acquiring an additional 826 shares during the period. Covestor Ltd’s holdings in Evolent Health were worth $40,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EVH. Headlands Technologies LLC purchased a new stake in Evolent Health during the 1st quarter valued at approximately $46,000. ProShare Advisors LLC boosted its stake in shares of Evolent Health by 10.8% during the first quarter. ProShare Advisors LLC now owns 20,198 shares of the technology company’s stock valued at $662,000 after acquiring an additional 1,962 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Evolent Health by 0.9% during the first quarter. Vanguard Group Inc. now owns 10,915,070 shares of the technology company’s stock valued at $357,905,000 after acquiring an additional 93,739 shares during the last quarter. Summit Creek Advisors LLC boosted its stake in shares of Evolent Health by 0.6% during the first quarter. Summit Creek Advisors LLC now owns 573,768 shares of the technology company’s stock valued at $18,814,000 after acquiring an additional 3,408 shares during the last quarter. Finally, American International Group Inc. boosted its stake in Evolent Health by 1.2% in the 1st quarter. American International Group Inc. now owns 55,402 shares of the technology company’s stock worth $1,817,000 after buying an additional 640 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EVH. Stephens lowered Evolent Health from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $38.00 to $16.00 in a research note on Friday, November 8th. Oppenheimer dropped their target price on Evolent Health from $45.00 to $34.00 and set an “outperform” rating on the stock in a report on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, August 19th. Barclays dropped their price objective on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, November 11th. Finally, Citigroup decreased their target price on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Evolent Health has a consensus rating of “Buy” and a consensus price target of $29.50.

Evolent Health Trading Down 2.3 %

Shares of EVH stock opened at $12.38 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.08 and a current ratio of 1.04. Evolent Health, Inc. has a 1 year low of $12.18 and a 1 year high of $35.00. The stock has a fifty day moving average of $25.11 and a two-hundred day moving average of $24.34. The firm has a market capitalization of $1.44 billion, a PE ratio of -13.60 and a beta of 1.58.

Insider Transactions at Evolent Health

In other news, COO Emily Ann Rafferty sold 8,861 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $265,830.00. Following the sale, the chief operating officer now owns 63,408 shares of the company’s stock, valued at approximately $1,902,240. The trade was a 12.26 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Seth Blackley sold 187,904 shares of the business’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $30.00, for a total value of $5,637,120.00. Following the completion of the sale, the chief executive officer now directly owns 411,924 shares in the company, valued at $12,357,720. This represents a 31.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 307,291 shares of company stock valued at $9,290,385. Corporate insiders own 1.60% of the company’s stock.

Evolent Health 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.