Redmile Group LLC Has $22.27 Million Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Redmile Group LLC trimmed its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 18.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 679,172 shares of the technology company’s stock after selling 156,365 shares during the quarter. Redmile Group LLC owned 0.59% of Evolent Health worth $22,270,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. ICA Group Wealth Management LLC acquired a new stake in Evolent Health in the 4th quarter valued at $33,000. Headlands Technologies LLC acquired a new position in shares of Evolent Health during the first quarter valued at $46,000. Signaturefd LLC boosted its holdings in Evolent Health by 1,470.7% in the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock valued at $48,000 after acquiring an additional 1,353 shares during the last quarter. NBC Securities Inc. acquired a new stake in Evolent Health in the fourth quarter worth about $69,000. Finally, Banque Cantonale Vaudoise acquired a new position in Evolent Health during the 1st quarter valued at about $88,000.

Wall Street Analyst Weigh In

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

Evolent Health Trading Down 1.4 %

NYSE:EVH traded down $0.34 on Monday, reaching $23.32. The company’s stock had a trading volume of 1,917,213 shares, compared to its average volume of 1,374,083. The firm has a market cap of $2.71 billion, a PE ratio of -18.66 and a beta of 1.54. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02. The business’s 50-day moving average price is $21.40 and its two-hundred day moving average price is $27.20. Evolent Health, Inc. has a 1-year low of $17.98 and a 1-year high of $35.00.

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

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.