Eagle Asset Management Inc. Sells 616,845 Shares of Evolent Health, Inc. (NYSE:EVH)

Eagle Asset Management Inc. cut its holdings in shares of Evolent Health, Inc. (NYSE:EVH) by 95.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,001 shares of the technology company’s stock after selling 616,845 shares during the period. Eagle Asset Management Inc.’s holdings in Evolent Health were worth $820,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Principal Financial Group Inc. raised its stake in Evolent Health by 3.2% during the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock worth $298,000 after buying an additional 480 shares during the period. SeaCrest Wealth Management LLC raised its stake in Evolent Health by 6.3% in the 2nd quarter. SeaCrest Wealth Management LLC now owns 10,200 shares of the technology company’s stock valued at $195,000 after acquiring an additional 600 shares during the period. American International Group Inc. grew 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 valued at $1,817,000 after buying an additional 640 shares during the last quarter. Arizona State Retirement System increased its stake in shares of Evolent Health by 2.3% during the second quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock worth $556,000 after purchasing an additional 649 shares during the period. Finally, Covestor Ltd lifted its holdings in shares of Evolent Health by 138.1% during the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after buying an additional 826 shares in the last quarter.

Evolent Health Stock Performance

EVH opened at $12.22 on Tuesday. The company has a fifty day moving average of $22.89 and a 200 day moving average of $23.64. Evolent Health, Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $35.00. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -13.42 and a beta of 1.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.04 and a current ratio of 1.04.

Analyst Ratings Changes

A number of brokerages recently commented on EVH. JPMorgan Chase & Co. decreased their price target on Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 price objective on shares of Evolent Health in a research note on Tuesday, November 12th. Truist Financial reiterated a “buy” rating and set a $33.00 price target on shares of Evolent Health in a report on Tuesday, August 27th. JMP Securities lowered their price objective on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research note on Friday, August 9th. Finally, Citigroup cut their price target on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Evolent Health currently has an average rating of “Buy” and an average price target of $25.90.

About Evolent Health

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.