Nationwide Fund Advisors Increases Position in Evolent Health Inc (EVH)

Nationwide Fund Advisors grew its holdings in shares of Evolent Health Inc (NYSE:EVH) by 14.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 105,375 shares of the technology company’s stock after purchasing an additional 13,057 shares during the period. Nationwide Fund Advisors owned about 0.14% of Evolent Health worth $1,876,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in EVH. Schwab Charles Investment Management Inc. grew its position in shares of Evolent Health by 6.0% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 63,180 shares of the technology company’s stock worth $1,409,000 after purchasing an additional 3,591 shares in the last quarter. Bank of America Corp DE grew its position in shares of Evolent Health by 21.5% during the 1st quarter. Bank of America Corp DE now owns 24,468 shares of the technology company’s stock worth $545,000 after purchasing an additional 4,331 shares in the last quarter. Bank of Montreal Can grew its position in shares of Evolent Health by 68.5% during the 2nd quarter. Bank of Montreal Can now owns 10,480 shares of the technology company’s stock worth $266,000 after purchasing an additional 4,260 shares in the last quarter. Sei Investments Co. acquired a new position in shares of Evolent Health during the 2nd quarter worth approximately $660,000. Finally, First Trust Advisors LP grew its position in shares of Evolent Health by 171.8% during the 2nd quarter. First Trust Advisors LP now owns 89,561 shares of the technology company’s stock worth $2,270,000 after purchasing an additional 56,609 shares in the last quarter. Hedge funds and other institutional investors own 95.38% of the company’s stock.

Several analysts recently issued reports on EVH shares. Jefferies Group reiterated a “buy” rating and set a $28.00 price target on shares of Evolent Health in a research report on Wednesday, September 6th. KeyCorp started coverage on shares of Evolent Health in a research report on Tuesday, September 19th. They set an “overweight” rating and a $23.00 price target on the stock. SunTrust Banks reiterated a “buy” rating and set a $30.00 price target on shares of Evolent Health in a research report on Wednesday, September 20th. Robert W. Baird reiterated an “outperform” rating and set a $25.00 price target (down previously from $35.00) on shares of Evolent Health in a research report on Tuesday, September 26th. They noted that the move was a valuation call. Finally, Zacks Investment Research lowered shares of Evolent Health from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have assigned a buy rating to the company. Evolent Health currently has an average rating of “Buy” and a consensus price target of $28.00.

Shares of Evolent Health Inc (NYSE:EVH) opened at $13.60 on Friday. The company has a current ratio of 3.34, a quick ratio of 3.34 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1,050.00 and a P/E ratio of -11.93. Evolent Health Inc has a 52-week low of $10.30 and a 52-week high of $27.50.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.04. The business had revenue of $107.90 million during the quarter, compared to the consensus estimate of $104.49 million. Evolent Health had a negative net margin of 15.86% and a negative return on equity of 5.05%. The firm’s revenue was up 79.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.26) EPS. analysts forecast that Evolent Health Inc will post -0.57 earnings per share for the current fiscal year.

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About Evolent Health

Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.

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

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