Bank of New York Mellon Corp decreased its position in Evolent Health Inc (NYSE:EVH) by 3.8% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,900,276 shares of the technology company’s stock after selling 74,309 shares during the quarter. Bank of New York Mellon Corp’s holdings in Evolent Health were worth $13,529,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EVH. Advisor Group Holdings Inc. bought a new stake in Evolent Health in the 1st quarter worth approximately $53,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Evolent Health by 94.8% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,622 shares of the technology company’s stock worth $54,000 after buying an additional 3,709 shares during the last quarter. Janney Montgomery Scott LLC bought a new stake in Evolent Health in the 1st quarter worth approximately $61,000. ProShare Advisors LLC bought a new stake in Evolent Health in the 2nd quarter worth approximately $73,000. Finally, SeaCrest Wealth Management LLC bought a new stake in Evolent Health in the 2nd quarter worth approximately $78,000. Institutional investors own 87.68% of the company’s stock.

In related news, General Counsel Jonathan Weinberg sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 5th. The stock was sold at an average price of $13.01, for a total value of $130,100.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.00% of the stock is owned by corporate insiders.

Several brokerages have weighed in on EVH. SunTrust Banks boosted their price objective on Evolent Health from $14.00 to $15.00 and gave the company a “buy” rating in a research report on Monday, July 20th. Canaccord Genuity boosted their price objective on Evolent Health from $13.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. JPMorgan Chase & Co. boosted their price objective on Evolent Health from $8.00 to $11.00 and gave the company a “neutral” rating in a research report on Friday, June 26th. Truist Financial boosted their price objective on Evolent Health from $15.00 to $20.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Finally, Zacks Investment Research downgraded Evolent Health from a “hold” rating to a “sell” rating in a research report on Tuesday, July 21st. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $13.18.

Shares of EVH stock opened at $12.82 on Wednesday. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of -2.15 and a beta of 1.91. The business’s fifty day moving average is $13.04 and its 200 day moving average is $8.52. Evolent Health Inc has a twelve month low of $3.50 and a twelve month high of $14.50. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.57.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Tuesday, August 4th. The technology company reported ($0.03) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.14. The company had revenue of $238.63 million for the quarter, compared to analysts’ expectations of $241.05 million. Evolent Health had a negative return on equity of 4.68% and a negative net margin of 53.56%. Equities research analysts expect that Evolent Health Inc will post -0.53 earnings per share for the current fiscal 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 as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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Institutional Ownership by Quarter for Evolent Health (NYSE:EVH)

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