IMA Wealth Inc. Lowers Position in Evolent Health, Inc. (NYSE:EVH)

IMA Wealth Inc. trimmed its position in shares of Evolent Health, Inc. (NYSE:EVH) by 9.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 39,346 shares of the technology company’s stock after selling 4,256 shares during the quarter. IMA Wealth Inc.’s holdings in Evolent Health were worth $1,300,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of EVH. RA Capital Management L.P. purchased a new stake in shares of Evolent Health during the third quarter valued at about $74,520,000. Wellington Management Group LLP lifted its position in shares of Evolent Health by 11.9% during the third quarter. Wellington Management Group LLP now owns 4,239,198 shares of the technology company’s stock valued at $115,433,000 after buying an additional 449,664 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Evolent Health by 2.7% during the third quarter. Vanguard Group Inc. now owns 10,594,640 shares of the technology company’s stock valued at $288,492,000 after buying an additional 274,288 shares during the last quarter. Redmile Group LLC lifted its position in shares of Evolent Health by 118.0% during the third quarter. Redmile Group LLC now owns 465,282 shares of the technology company’s stock valued at $12,670,000 after buying an additional 251,850 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Evolent Health by 8.7% during the third quarter. Bank of New York Mellon Corp now owns 1,655,609 shares of the technology company’s stock valued at $45,082,000 after buying an additional 133,038 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JMP Securities increased their price target on shares of Evolent Health from $37.00 to $38.00 and gave the company a “market outperform” rating in a research report on Friday, February 23rd. Citigroup assumed coverage on shares of Evolent Health in a research report on Monday, April 22nd. They issued a “buy” rating and a $40.00 price objective for the company. Oppenheimer assumed coverage on shares of Evolent Health in a research report on Friday, March 1st. They issued an “outperform” rating and a $45.00 price objective for the company. Barclays assumed coverage on shares of Evolent Health in a research report on Wednesday, January 3rd. They issued an “overweight” rating and a $39.00 price objective for the company. Finally, William Blair reaffirmed an “outperform” rating on shares of Evolent Health in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Evolent Health presently has an average rating of “Moderate Buy” and a consensus price target of $42.70.

Evolent Health Stock Performance

NYSE:EVH traded down $0.67 during midday trading on Friday, hitting $27.65. The company’s stock had a trading volume of 1,055,481 shares, compared to its average volume of 764,116. Evolent Health, Inc. has a fifty-two week low of $23.33 and a fifty-two week high of $36.70. The firm’s 50 day moving average is $31.84 and its 200-day moving average is $30.27. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $3.19 billion, a P/E ratio of -21.77 and a beta of 1.53.

Evolent Health (NYSE:EVH) last issued its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.13. Evolent Health had a negative net margin of 5.76% and a positive return on equity of 6.60%. The company had revenue of $556.06 million for the quarter, compared to the consensus estimate of $541.87 million. Equities analysts anticipate that Evolent Health, Inc. will post 0.87 earnings per share for the current fiscal year.

Evolent Health 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.