Granite Point Capital Management L.P. raised its holdings in shares of Evolent Health Inc (NYSE:EVH) by 100.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the technology company’s stock after purchasing an additional 50,000 shares during the period. Granite Point Capital Management L.P.’s holdings in Evolent Health were worth $1,230,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of EVH. SG Americas Securities LLC acquired a new position in shares of Evolent Health during the third quarter worth $156,000. Fox Run Management L.L.C. purchased a new stake in shares of Evolent Health during the fourth quarter valued at $175,000. IPG Investment Advisors LLC purchased a new stake in shares of Evolent Health during the third quarter valued at $195,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in shares of Evolent Health during the third quarter valued at $205,000. Finally, Royal Bank of Canada grew its holdings in shares of Evolent Health by 1,197.8% during the second quarter. Royal Bank of Canada now owns 8,293 shares of the technology company’s stock valued at $210,000 after buying an additional 7,654 shares during the last quarter. 95.44% of the stock is currently owned by institutional investors and hedge funds.

Shares of Evolent Health Inc (NYSE EVH) opened at $13.70 on Tuesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.34 and a current ratio of 3.34. Evolent Health Inc has a 12 month low of $10.30 and a 12 month high of $27.50.

A number of brokerages have recently weighed in on EVH. Citigroup began coverage on shares of Evolent Health in a report on Thursday, January 4th. They set a “buy” rating on the stock. Cantor Fitzgerald reissued a “buy” rating and set a $30.00 price objective on shares of Evolent Health in a report on Sunday, December 3rd. Leerink Swann set a $25.00 price objective on shares of Evolent Health and gave the company a “buy” rating in a report on Saturday, November 18th. Goldman Sachs Group lowered shares of Evolent Health from a “conviction-buy” rating to a “buy” rating in a report on Tuesday, November 7th. Finally, SunTrust Banks reissued a “buy” rating and set a $30.00 price objective on shares of Evolent Health in a report on Friday, November 3rd. Two research analysts have rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $28.00.

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Evolent Health Company Profile

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.

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

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