Ameriprise Financial Inc. cut its stake in Evolent Health Inc (NYSE:EVH) by 48.9% in the third quarter, HoldingsChannel.com reports. The firm owned 86,004 shares of the technology company’s stock after selling 82,375 shares during the period. Ameriprise Financial Inc.’s holdings in Evolent Health were worth $1,531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Stifel Financial Corp bought a new position in shares of Evolent Health during the 2nd quarter worth about $425,000. Kornitzer Capital Management Inc. KS bought a new position in shares of Evolent Health during the 3rd quarter worth about $14,258,000. Edmond DE Rothschild Holding S.A. lifted its holdings in shares of Evolent Health by 6.9% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 387,000 shares of the technology company’s stock worth $9,810,000 after acquiring an additional 25,000 shares during the period. Dimensional Fund Advisors LP bought a new position in shares of Evolent Health during the 2nd quarter worth about $2,912,000. Finally, Peregrine Capital Management LLC lifted its holdings in shares of Evolent Health by 50.2% during the 3rd quarter. Peregrine Capital Management LLC now owns 1,482,778 shares of the technology company’s stock worth $26,393,000 after acquiring an additional 495,536 shares during the period. 95.38% of the stock is owned by institutional investors.
A number of equities analysts have recently commented on EVH shares. Leerink Swann set a $25.00 price objective on shares of Evolent Health and gave the stock a “buy” rating in a report on Saturday, November 18th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $30.00 price objective on shares of Evolent Health in a report on Thursday, November 2nd. SunTrust Banks reaffirmed a “buy” rating and set a $30.00 price objective on shares of Evolent Health in a report on Friday, November 3rd. KeyCorp started coverage on shares of Evolent Health in a report on Tuesday, September 19th. They set an “overweight” rating and a $23.00 price objective for the company. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $25.00 price objective (down from $35.00) on shares of Evolent Health in a report on Tuesday, September 26th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, one has given a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $28.00.
Evolent Health (NYSE:EVH) last announced its earnings results on Thursday, November 2nd. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. The business had revenue of $107.90 million during the quarter, compared to analysts’ expectations 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 for the quarter was up 79.2% on a year-over-year basis. During the same quarter last year, the company posted ($0.26) EPS. analysts expect that Evolent Health Inc will post -0.55 earnings per share for the current fiscal year.
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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