American International Group Inc. lessened its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 2.8% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 43,887 shares of the technology company’s stock after selling 1,260 shares during the period. American International Group Inc. owned approximately 0.05% of Evolent Health worth $704,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Renaissance Technologies LLC purchased a new stake in Evolent Health during the 4th quarter valued at $1,516,000. Wolff Wiese Magana LLC purchased a new stake in Evolent Health during the 4th quarter valued at $48,000. ProShare Advisors LLC purchased a new stake in Evolent Health during the 4th quarter valued at $268,000. Aperio Group LLC raised its holdings in Evolent Health by 7.8% during the 3rd quarter. Aperio Group LLC now owns 16,807 shares of the technology company’s stock valued at $209,000 after buying an additional 1,217 shares during the period. Finally, Point72 Asset Management L.P. raised its holdings in Evolent Health by 17.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 628,880 shares of the technology company’s stock valued at $7,804,000 after buying an additional 95,335 shares during the period. Institutional investors own 93.15% of the company’s stock.
Several analysts recently weighed in on the company. Zacks Investment Research lowered Evolent Health from a “buy” rating to a “hold” rating in a report on Monday, January 11th. BTIG Research increased their target price on Evolent Health from $20.00 to $25.00 and gave the stock a “buy” rating in a research note on Friday, February 26th. Canaccord Genuity increased their target price on Evolent Health from $22.00 to $24.00 and gave the stock a “buy” rating in a research note on Monday, March 8th. Piper Sandler increased their target price on Evolent Health from $25.00 to $27.00 and gave the stock an “overweight” rating in a research note on Friday, February 26th. Finally, Cowen increased their target price on Evolent Health from $19.00 to $25.00 and gave the stock an “outperform” rating in a research note on Friday, February 26th. Four equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $17.91.
Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, February 25th. The technology company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. Evolent Health had a negative return on equity of 4.40% and a negative net margin of 52.35%. Analysts forecast that Evolent Health, Inc. will post -0.41 earnings per share for the current year.
Evolent Health Profile
Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates through two segments, Services and True Health. The Services segment provides value-based care services that include Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows and engages patients; population health performance that delivers patient-centric cost effective care; and delivery network alignments.
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