First Light Asset Management LLC Trims Stock Position in Evolent Health, Inc $EVH

First Light Asset Management LLC lessened its stake in shares of Evolent Health, Inc (NYSE:EVH) by 26.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 545,282 shares of the technology company’s stock after selling 193,268 shares during the period. First Light Asset Management LLC’s holdings in Evolent Health were worth $4,613,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC bought a new position in Evolent Health in the fourth quarter worth approximately $3,927,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Evolent Health by 2.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 128,527 shares of the technology company’s stock valued at $1,217,000 after purchasing an additional 3,572 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Evolent Health by 162.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,836,402 shares of the technology company’s stock worth $26,861,000 after buying an additional 1,754,520 shares during the period. Caxton Associates LLP purchased a new stake in shares of Evolent Health in the 1st quarter worth $252,000. Finally, Strs Ohio bought a new position in shares of Evolent Health during the 1st quarter worth $47,000.

Evolent Health Trading Down 2.5%

EVH opened at $2.99 on Monday. The company has a current ratio of 1.31, a quick ratio of 1.31 and a debt-to-equity ratio of 2.34. The firm has a market cap of $333.25 million, a price-to-earnings ratio of -0.58 and a beta of 0.24. Evolent Health, Inc has a 12 month low of $2.50 and a 12 month high of $12.06. The stock has a fifty day moving average price of $3.33 and a 200-day moving average price of $5.33.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Tuesday, February 24th. The technology company reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. Evolent Health had a positive return on equity of 1.49% and a negative net margin of 28.49%.The company had revenue of $468.72 million for the quarter, compared to the consensus estimate of $468.48 million. During the same quarter last year, the company earned ($0.02) earnings per share. The firm’s revenue for the quarter was down 27.5% compared to the same quarter last year. As a group, equities research analysts anticipate that Evolent Health, Inc will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Evolent Health from $13.00 to $7.00 and set an “overweight” rating on the stock in a research note on Monday, November 17th. Oppenheimer lowered their price objective on shares of Evolent Health from $12.00 to $6.00 and set an “outperform” rating for the company in a research note on Monday, March 2nd. Wall Street Zen upgraded shares of Evolent Health from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. UBS Group cut their target price on shares of Evolent Health from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Finally, Royal Bank Of Canada reduced their price target on shares of Evolent Health from $5.00 to $3.00 and set a “sector perform” rating for the company in a report on Wednesday, February 25th. Thirteen research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $6.04.

About Evolent Health

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.