Gabelli Funds LLC Lowers Holdings in Evolent Health, Inc $EVH

Gabelli Funds LLC reduced its position in Evolent Health, Inc (NYSE:EVH) by 91.7% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 284,300 shares of the technology company’s stock after selling 3,128,900 shares during the quarter. Gabelli Funds LLC’s holdings in Evolent Health were worth $648,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC acquired a new stake in shares of Evolent Health in the 4th quarter worth $3,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Evolent Health by 2.9% in 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 acquiring an additional 3,572 shares in the last quarter. Goldman Sachs Group Inc. increased its stake 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 worth $26,861,000 after acquiring an additional 1,754,520 shares during the period. Caxton Associates LLP acquired a new position in shares of Evolent Health during the first quarter worth about $252,000. Finally, Strs Ohio purchased a new position in Evolent Health during the first quarter worth about $47,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EVH shares. Truist Financial downgraded shares of Evolent Health from a “buy” rating to a “hold” rating and set a $7.00 price objective for the company. in a research report on Tuesday, June 30th. Canaccord Genuity Group boosted their target price on Evolent Health from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Tuesday, July 21st. Citigroup reissued a “sell” rating and set a $6.75 target price (up from $5.50) on shares of Evolent Health in a research note on Thursday, July 23rd. Needham & Company LLC raised their price target on Evolent Health from $4.00 to $5.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Weiss Ratings downgraded Evolent Health from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Tuesday, July 21st. Eleven analysts have rated the stock with a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.16.

Evolent Health Trading Down 3.5%

NYSE:EVH opened at $3.19 on Friday. Evolent Health, Inc has a 52-week low of $2.10 and a 52-week high of $10.30. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 2.46. The stock has a fifty day simple moving average of $4.82 and a 200-day simple moving average of $3.74. The company has a market capitalization of $358.25 million, a PE ratio of -0.67 and a beta of 0.76.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, May 7th. The technology company reported ($0.02) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. Evolent Health had a negative net margin of 26.29% and a positive return on equity of 0.36%. The firm had revenue of $496.25 million for the quarter, compared to analysts’ expectations of $534.00 million. During the same period in the prior year, the company earned $0.06 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. On average, equities research analysts expect that Evolent Health, Inc will post -0.16 earnings per share for the current fiscal 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.