937,628 Shares in Evolent Health, Inc $EVH Acquired by Castle Hook Partners LP

Castle Hook Partners LP acquired a new position in Evolent Health, Inc (NYSE:EVH) in the 4th quarter, HoldingsChannel reports. The firm acquired 937,628 shares of the technology company’s stock, valued at approximately $3,751,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Private Wealth Group LLC lifted its holdings in Evolent Health by 4,000.0% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 4,100 shares of the technology company’s stock worth $35,000 after buying an additional 4,000 shares during the period. Strs Ohio purchased a new stake in Evolent Health in the 1st quarter worth approximately $47,000. Headlands Technologies LLC purchased a new stake in Evolent Health in the 2nd quarter worth approximately $58,000. Quantbot Technologies LP purchased a new stake in Evolent Health in the 3rd quarter worth approximately $88,000. Finally, Caxton Associates LLP purchased a new stake in Evolent Health in the 3rd quarter worth approximately $93,000.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EVH shares. Canaccord Genuity Group increased their price objective on Evolent Health from $4.00 to $6.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Truist Financial increased their price objective on Evolent Health from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Friday, June 12th. KeyCorp cut Evolent Health from an “overweight” rating to a “sector weight” rating in a report on Wednesday, February 25th. UBS Group dropped their price objective on Evolent Health from $10.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Needham & Company LLC increased their price objective on Evolent Health from $4.00 to $5.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.08.

Evolent Health Stock Down 0.1%

Shares of NYSE:EVH opened at $4.70 on Thursday. The stock has a fifty day simple moving average of $3.73 and a two-hundred day simple moving average of $3.50. The stock has a market capitalization of $528.32 million, a price-to-earnings ratio of -0.99 and a beta of 0.84. Evolent Health, Inc has a 12-month low of $2.10 and a 12-month high of $12.06. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 2.46.

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

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.