Pictet Asset Management Ltd. Cuts Stock Holdings in Evolent Health Inc (NYSE:EVH)

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Pictet Asset Management Ltd. lowered its holdings in Evolent Health Inc (NYSE:EVH) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,017,671 shares of the technology company’s stock after selling 22,969 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Evolent Health were worth $7,317,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Northern Trust Corp boosted its stake in shares of Evolent Health by 0.9% during the second quarter. Northern Trust Corp now owns 1,017,149 shares of the technology company’s stock valued at $8,086,000 after purchasing an additional 9,393 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Evolent Health by 94.4% during the second quarter. DekaBank Deutsche Girozentrale now owns 12,061 shares of the technology company’s stock valued at $95,000 after purchasing an additional 5,856 shares in the last quarter. Conestoga Capital Advisors LLC boosted its position in Evolent Health by 36.2% during the second quarter. Conestoga Capital Advisors LLC now owns 30,390 shares of the technology company’s stock valued at $242,000 after purchasing an additional 8,070 shares in the last quarter. Aperio Group LLC bought a new stake in Evolent Health during the second quarter valued at about $40,000. Finally, Marshall Wace LLP grew its position in shares of Evolent Health by 110.0% in the 2nd quarter. Marshall Wace LLP now owns 1,613,272 shares of the technology company’s stock worth $12,825,000 after buying an additional 844,888 shares during the last quarter.

A number of equities research analysts have recently weighed in on the company. KeyCorp dropped their price target on Evolent Health from $20.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday. They noted that the move was a valuation call. Zacks Investment Research downgraded Evolent Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $10.00 target price (down previously from $16.00) on shares of Evolent Health in a research note on Wednesday, November 27th. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $10.15 price target on shares of Evolent Health in a research report on Wednesday, November 27th. Finally, Oppenheimer set a $15.00 price target on Evolent Health and gave the company a “buy” rating in a research note on Wednesday, August 7th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $13.20.

Shares of NYSE EVH opened at $6.49 on Wednesday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27. Evolent Health Inc has a 12 month low of $5.50 and a 12 month high of $24.53. The company has a 50 day simple moving average of $8.38 and a two-hundred day simple moving average of $8.22. The stock has a market cap of $610.03 million, a price-to-earnings ratio of -18.54 and a beta of 1.04.

Evolent Health (NYSE:EVH) last released its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.03. The business had revenue of $220.14 million for the quarter, compared to the consensus estimate of $217.90 million. Evolent Health had a negative net margin of 15.02% and a negative return on equity of 6.93%. The business’s revenue for the quarter was up 46.8% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.04) EPS. Analysts forecast that Evolent Health Inc will post -0.95 EPS for the current year.

About Evolent Health

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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Institutional Ownership by Quarter for Evolent Health (NYSE:EVH)

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