Qsemble Capital Management LP Purchases New Stake in Evolent Health, Inc. (NYSE:EVH)

Qsemble Capital Management LP purchased a new stake in shares of Evolent Health, Inc. (NYSE:EVH) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,337 shares of the technology company’s stock, valued at approximately $241,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its holdings in Evolent Health by 96.1% in the 4th quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock worth $274,584,000 after purchasing an additional 4,073,959 shares in the last quarter. Norges Bank bought a new position in Evolent Health in the 4th quarter worth $43,759,000. Point72 Asset Management L.P. raised its holdings in Evolent Health by 81.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock worth $88,355,000 after purchasing an additional 1,199,400 shares in the last quarter. Zevenbergen Capital Investments LLC raised its holdings in Evolent Health by 126.5% in the 1st quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock worth $18,547,000 after purchasing an additional 315,875 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Evolent Health by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 10,594,640 shares of the technology company’s stock worth $288,492,000 after purchasing an additional 274,288 shares in the last quarter.

Evolent Health Stock Performance

Shares of NYSE EVH traded up $2.46 during trading on Tuesday, reaching $21.72. 4,442,789 shares of the company traded hands, compared to its average volume of 1,310,066. The firm has a 50 day simple moving average of $22.06 and a 200-day simple moving average of $28.00. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $2.52 billion, a PE ratio of -16.84 and a beta of 1.54. Evolent Health, Inc. has a 52-week low of $17.98 and a 52-week high of $35.00.

Evolent Health (NYSE:EVH) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. The firm had revenue of $639.65 million for the quarter, compared to the consensus estimate of $601.60 million. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. Equities research analysts anticipate that Evolent Health, Inc. will post 0.9 earnings per share for the current year.

Wall Street Analysts Forecast Growth

EVH has been the subject of several research reports. JMP Securities decreased their price target on shares of Evolent Health from $38.00 to $34.00 and set a “market outperform” rating for the company in a research note on Friday, May 10th. Canaccord Genuity Group decreased their price target on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Citigroup initiated coverage on shares of Evolent Health in a research report on Monday, April 22nd. They set a “buy” rating and a $40.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Evolent Health Company Profile

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.