Evolent Health Inc (EVH) Stake Increased by Sectoral Asset Management Inc

Sectoral Asset Management Inc grew its stake in shares of Evolent Health Inc (NYSE:EVH) by 22.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 652,680 shares of the technology company’s stock after purchasing an additional 119,868 shares during the quarter. Sectoral Asset Management Inc owned approximately 0.95% of Evolent Health worth $11,618,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Alyeska Investment Group L.P. raised its holdings in shares of Evolent Health by 393.1% in the third quarter. Alyeska Investment Group L.P. now owns 250,000 shares of the technology company’s stock valued at $4,450,000 after acquiring an additional 199,300 shares in the last quarter. Granite Point Capital Management L.P. bought a new stake in shares of Evolent Health in the third quarter valued at about $890,000. California State Teachers Retirement System raised its holdings in shares of Evolent Health by 23.4% in the third quarter. California State Teachers Retirement System now owns 84,320 shares of the technology company’s stock valued at $1,501,000 after acquiring an additional 16,005 shares in the last quarter. Elk Creek Partners LLC raised its holdings in shares of Evolent Health by 30.6% in the third quarter. Elk Creek Partners LLC now owns 1,173,823 shares of the technology company’s stock valued at $20,894,000 after acquiring an additional 275,086 shares in the last quarter. Finally, Formula Growth Ltd. raised its holdings in shares of Evolent Health by 699.5% in the third quarter. Formula Growth Ltd. now owns 803,500 shares of the technology company’s stock valued at $14,302,000 after acquiring an additional 703,000 shares in the last quarter. 95.38% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently weighed in on the company. Zacks Investment Research downgraded Evolent Health from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Robert W. Baird restated an “outperform” rating and issued a $25.00 price objective (down from $35.00) on shares of Evolent Health in a report on Tuesday, September 26th. They noted that the move was a valuation call. Cantor Fitzgerald restated a “buy” rating and issued a $30.00 price objective on shares of Evolent Health in a report on Sunday, December 3rd. Cowen restated an “outperform” rating and issued a $29.00 price objective (down from $33.00) on shares of Evolent Health in a report on Friday, October 6th. Finally, J P Morgan Chase & Co restated a “buy” rating on shares of Evolent Health in a report on Friday, August 18th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $28.00.

Shares of Evolent Health Inc (NYSE:EVH) traded up $0.40 during trading on Friday, reaching $13.25. 1,244,300 shares of the company’s stock were exchanged, compared to its average volume of 1,256,719. The company has a quick ratio of 3.34, a current ratio of 3.34 and a debt-to-equity ratio of 0.11. Evolent Health Inc has a fifty-two week low of $10.30 and a fifty-two week high of $27.50.

Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, November 2nd. The technology company reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.08) by $0.04. The business had revenue of $107.90 million during the quarter, compared to the consensus estimate of $104.49 million. Evolent Health had a negative net margin of 15.86% and a negative return on equity of 5.05%. The firm’s revenue was up 79.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.26) earnings per share. sell-side analysts anticipate that Evolent Health Inc will post -0.57 EPS for the current year.

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About Evolent Health

Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.

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

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