Pictet Asset Management Ltd. Trims Stake in Evolent Health Inc (NYSE:EVH)

Pictet Asset Management Ltd. reduced its stake in Evolent Health Inc (NYSE:EVH) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,017,671 shares of the technology company’s stock after selling 22,969 shares during the quarter. Pictet Asset Management Ltd. owned approximately 1.20% of Evolent Health worth $7,317,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in Evolent Health by 9.1% in the second quarter. Vanguard Group Inc. now owns 6,570,526 shares of the technology company’s stock worth $52,236,000 after buying an additional 548,064 shares in the last quarter. BlackRock Inc. raised its stake in Evolent Health by 5.9% during the 2nd quarter. BlackRock Inc. now owns 5,073,428 shares of the technology company’s stock worth $40,334,000 after acquiring an additional 282,951 shares during the period. Riverbridge Partners LLC raised its stake in Evolent Health by 0.7% during the 3rd quarter. Riverbridge Partners LLC now owns 3,428,455 shares of the technology company’s stock worth $24,651,000 after acquiring an additional 24,929 shares during the period. Eagle Asset Management Inc. raised its stake in Evolent Health by 62.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 3,002,480 shares of the technology company’s stock worth $21,587,000 after acquiring an additional 1,149,789 shares during the period. Finally, Carillon Tower Advisers Inc. lifted its holdings in Evolent Health by 71.5% during the third quarter. Carillon Tower Advisers Inc. now owns 2,801,065 shares of the technology company’s stock valued at $20,140,000 after purchasing an additional 1,167,612 shares in the last quarter.

NYSE EVH opened at $6.49 on Wednesday. The stock’s 50 day moving average is $8.38 and its 200 day moving average is $8.22. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.27. Evolent Health Inc has a 12 month low of $5.50 and a 12 month high of $24.53. The stock has a market cap of $610.03 million, a PE ratio of -18.54 and a beta of 1.04.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, November 5th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.03. The business had revenue of $220.14 million during the quarter, compared to analyst estimates of $217.90 million. Evolent Health had a negative net margin of 15.02% and a negative return on equity of 6.93%. The company’s revenue was up 46.8% on a year-over-year basis. During the same period last year, the firm posted ($0.04) EPS. On average, analysts forecast that Evolent Health Inc will post -0.95 EPS for the current fiscal year.

EVH has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Evolent Health from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Cowen set a $18.00 price objective on shares of Evolent Health and gave the company a “buy” rating in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $10.00 price objective (down from $16.00) on shares of Evolent Health in a research report on Wednesday, November 27th. KeyCorp lowered their target price on shares of Evolent Health from $20.00 to $10.00 and set an “overweight” rating on the stock in a research note on Monday. They noted that the move was a valuation call. Finally, Piper Jaffray Companies reaffirmed an “overweight” rating and issued a $10.15 target price on shares of Evolent Health in a report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $13.20.

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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