Mackenzie Financial Corp Takes $236,000 Position in Evolent Health, Inc. (NYSE:EVH)

Mackenzie Financial Corp purchased a new position in shares of Evolent Health, Inc. (NYSE:EVH) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 7,133 shares of the technology company’s stock, valued at approximately $236,000.

Several other institutional investors have also recently added to or reduced their stakes in EVH. Strs Ohio grew its stake in shares of Evolent Health by 46.3% in the 4th quarter. Strs Ohio now owns 6,000 shares of the technology company’s stock valued at $198,000 after purchasing an additional 1,900 shares during the last quarter. Genesee Capital Advisors LLC increased its stake in Evolent Health by 2.2% in the 4th quarter. Genesee Capital Advisors LLC now owns 38,390 shares of the technology company’s stock valued at $1,268,000 after buying an additional 825 shares during the period. HB Wealth Management LLC purchased a new position in Evolent Health during the 4th quarter worth $1,425,000. Moody National Bank Trust Division lifted its stake in shares of Evolent Health by 9.2% in the 4th quarter. Moody National Bank Trust Division now owns 86,444 shares of the technology company’s stock worth $2,855,000 after acquiring an additional 7,282 shares during the period. Finally, Vanguard Group Inc. boosted its holdings in shares of Evolent Health by 2.7% in the third quarter. Vanguard Group Inc. now owns 10,594,640 shares of the technology company’s stock valued at $288,492,000 after acquiring an additional 274,288 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on EVH. Barclays initiated coverage on shares of Evolent Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $39.00 price objective for the company. JPMorgan Chase & Co. dropped their price objective on Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Citigroup started coverage on Evolent Health in a report on Monday, April 22nd. They issued a “buy” rating and a $40.00 target price for the company. Canaccord Genuity Group lowered their price target on shares of Evolent Health from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Thursday, March 28th. Finally, Oppenheimer started coverage on shares of Evolent Health in a research note on Friday, March 1st. They issued an “outperform” rating and a $45.00 price objective for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $42.70.

Evolent Health Stock Down 2.4 %

Shares of NYSE EVH opened at $27.65 on Monday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50-day moving average is $31.77 and its two-hundred day moving average is $30.29. Evolent Health, Inc. has a 12-month low of $23.33 and a 12-month high of $36.70. The company has a market capitalization of $3.19 billion, a PE ratio of -21.77 and a beta of 1.53.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, February 22nd. The technology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.13. The firm had revenue of $556.06 million for the quarter, compared to analysts’ expectations of $541.87 million. Evolent Health had a positive return on equity of 6.60% and a negative net margin of 5.76%. Equities analysts anticipate that Evolent Health, Inc. will post 0.87 EPS for the current fiscal year.

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.