Public Employees Retirement System of Ohio Invests $760,000 in Evolent Health, Inc $EVH

Public Employees Retirement System of Ohio bought a new stake in Evolent Health, Inc (NYSE:EVH) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 140,267 shares of the technology company’s stock, valued at approximately $760,000. Public Employees Retirement System of Ohio owned approximately 0.12% of Evolent Health as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC bought a new stake in Evolent Health in the fourth quarter valued at about $3,927,000. Castle Hook Partners LP bought a new position in Evolent Health during the 4th quarter worth approximately $3,751,000. First Trust Advisors LP acquired a new position in shares of Evolent Health in the 1st quarter worth approximately $488,000. Rock Point Advisors LLC grew its position in shares of Evolent Health by 21.6% in the 4th quarter. Rock Point Advisors LLC now owns 1,190,156 shares of the technology company’s stock worth $4,761,000 after acquiring an additional 211,707 shares in the last quarter. Finally, Tejara Capital Ltd bought a new stake in shares of Evolent Health in the 4th quarter valued at approximately $5,326,000.

Insiders Place Their Bets

In related news, President Daniel Mccarthy sold 65,892 shares of the stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $5.00, for a total value of $329,460.00. Following the completion of the transaction, the president owned 655,133 shares in the company, valued at $3,275,665. This represents a 9.14% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.48% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Truist Financial dropped their price target on Evolent Health from $7.00 to $6.00 and set a “hold” rating on the stock in a research report on Wednesday, August 12th. Canaccord Genuity Group decreased their price objective on shares of Evolent Health from $7.00 to $6.00 and set a “buy” rating for the company in a report on Monday, August 10th. Citigroup upgraded shares of Evolent Health from a “neutral” rating to a “buy” rating and lowered their target price for the company from $6.75 to $6.00 in a research note on Monday, August 10th. JPMorgan Chase & Co. increased their target price on shares of Evolent Health from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Tuesday, August 18th. Finally, Weiss Ratings upgraded shares of Evolent Health from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Tuesday, September 1st. Eleven equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Evolent Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $5.96.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $4.12 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 2.52. The stock has a 50 day simple moving average of $4.63 and a 200-day simple moving average of $3.93. The company has a market cap of $466.37 million, a PE ratio of -0.90 and a beta of 0.84. Evolent Health, Inc has a 12-month low of $2.10 and a 12-month high of $10.06.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, August 6th. The technology company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.03. Evolent Health had a negative return on equity of 4.27% and a negative net margin of 24.08%.The firm had revenue of $484.50 million for the quarter, compared to the consensus estimate of $597.70 million. During the same quarter in the previous year, the business earned ($0.10) EPS. The firm’s revenue for the quarter was up 46.9% on a year-over-year basis. On average, equities research analysts forecast that Evolent Health, Inc will post -0.25 EPS for the current year.

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.