William Blair Investment Management LLC Reduces Holdings in Evolent Health, Inc. (NYSE:EVH)

William Blair Investment Management LLC decreased its position in shares of Evolent Health, Inc. (NYSE:EVH) by 3.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,781,131 shares of the technology company’s stock after selling 158,175 shares during the period. William Blair Investment Management LLC owned about 4.10% of Evolent Health worth $53,788,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EVH. Principal Financial Group Inc. increased its position in shares of Evolent Health by 268.0% in the 3rd quarter. Principal Financial Group Inc. now owns 57,382 shares of the technology company’s stock worth $1,623,000 after purchasing an additional 41,788 shares during the last quarter. Atria Investments Inc bought a new stake in shares of Evolent Health in the 3rd quarter worth about $208,000. State of New Jersey Common Pension Fund D bought a new stake in shares of Evolent Health in the 3rd quarter worth about $1,774,000. Los Angeles Capital Management LLC bought a new stake in shares of Evolent Health in the 3rd quarter worth about $430,000. Finally, Oppenheimer & Co. Inc. bought a new stake in shares of Evolent Health in the 3rd quarter worth about $855,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their target price on shares of Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Tuesday, January 14th. Oppenheimer dropped their target price on shares of Evolent Health from $28.00 to $18.00 and set an “outperform” rating for the company in a research report on Friday, January 24th. Truist Financial dropped their target price on shares of Evolent Health from $20.00 to $15.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $16.00 price objective (down previously from $17.00) on shares of Evolent Health in a research report on Friday, February 21st. Finally, Stephens lowered their price objective on shares of Evolent Health from $16.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $17.71.

Insider Buying and Selling at Evolent Health

In related news, President Daniel Joseph Mccarthy purchased 11,040 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $9.01 per share, with a total value of $99,470.40. Following the purchase, the president now owns 389,004 shares in the company, valued at approximately $3,504,926.04. The trade was a 2.92 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Diane Holder purchased 2,735 shares of Evolent Health stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $9.33 per share, with a total value of $25,517.55. Following the completion of the purchase, the director now owns 70,584 shares in the company, valued at approximately $658,548.72. This trade represents a 4.03 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 74,000 shares of company stock valued at $666,315 in the last ninety days. Company insiders own 1.60% of the company’s stock.

Evolent Health Trading Up 5.8 %

Evolent Health stock opened at $9.96 on Tuesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $10.13 and a two-hundred day moving average price of $16.66. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of -12.14 and a beta of 1.49. Evolent Health, Inc. has a 52-week low of $8.35 and a 52-week high of $33.63.

Evolent Health (NYSE:EVH) last posted its earnings results on Thursday, February 20th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The firm had revenue of $646.54 million for the quarter, compared to analyst estimates of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. Sell-side analysts expect that Evolent Health, Inc. will post 0.08 earnings per share for the current 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.