First Trust Advisors LP Takes $488,000 Position in Evolent Health, Inc $EVH

First Trust Advisors LP purchased a new stake in Evolent Health, Inc (NYSE:EVH) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 214,159 shares of the technology company’s stock, valued at approximately $488,000. First Trust Advisors LP owned approximately 0.19% of Evolent Health as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in Evolent Health during the 4th quarter valued at $3,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Evolent Health by 2.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock valued at $1,217,000 after buying an additional 3,572 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of Evolent Health by 162.2% during the first quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock valued at $26,861,000 after buying an additional 1,754,520 shares in the last quarter. Caxton Associates LLP acquired a new position in Evolent Health during the first quarter valued at $252,000. Finally, Strs Ohio purchased a new stake in Evolent Health in the 1st quarter worth about $47,000.

Evolent Health Stock Performance

Shares of EVH stock opened at $4.08 on Wednesday. The company has a debt-to-equity ratio of 2.52, a current ratio of 1.24 and a quick ratio of 1.24. Evolent Health, Inc has a fifty-two week low of $2.10 and a fifty-two week high of $10.08. The stock’s 50-day moving average is $4.75 and its two-hundred day moving average is $3.72. The firm has a market cap of $459.48 million, a P/E ratio of -0.89 and a beta of 0.79.

Evolent Health (NYSE:EVH) last posted its quarterly earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The company had revenue of $484.50 million during the quarter, compared to the consensus estimate of $597.70 million. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.The business’s quarterly revenue was up 46.9% on a year-over-year basis. During the same period last year, the business earned ($0.10) EPS. Analysts predict that Evolent Health, Inc will post -0.16 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on EVH shares. Canaccord Genuity Group decreased their price objective on Evolent Health from $7.00 to $6.00 and set a “buy” rating for the company in a research report on Monday. Weiss Ratings raised shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, August 4th. TD Cowen lowered their price objective on shares of Evolent Health from $8.00 to $5.00 and set a “buy” rating on the stock in a research report on Tuesday, July 28th. Citigroup upgraded shares of Evolent Health from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $6.75 to $6.00 in a research note on Monday. Finally, Truist Financial downgraded shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 target price for the company. in a research report on Tuesday, June 30th. Twelve equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.04.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.