Geode Capital Management LLC Acquires 70,363 Shares of Evolent Health Inc (NYSE:EVH)
Geode Capital Management LLC boosted its holdings in shares of Evolent Health Inc (NYSE:EVH) by 10.5% during the fourth quarter, HoldingsChannel reports. The firm owned 739,060 shares of the technology company’s stock after acquiring an additional 70,363 shares during the period. Geode Capital Management LLC’s holdings in Evolent Health were worth $14,744,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in EVH. Rhumbline Advisers raised its stake in Evolent Health by 61.9% during the 4th quarter. Rhumbline Advisers now owns 109,796 shares of the technology company’s stock worth $2,190,000 after buying an additional 41,960 shares during the period. State Board of Administration of Florida Retirement System raised its stake in Evolent Health by 7.6% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 24,749 shares of the technology company’s stock worth $494,000 after buying an additional 1,758 shares during the period. Mackenzie Financial Corp acquired a new stake in Evolent Health during the 4th quarter worth $459,000. Prudential Financial Inc. raised its stake in Evolent Health by 8.5% during the 4th quarter. Prudential Financial Inc. now owns 154,170 shares of the technology company’s stock worth $3,040,000 after buying an additional 12,020 shares during the period. Finally, FDx Advisors Inc. raised its stake in Evolent Health by 70.6% during the 4th quarter. FDx Advisors Inc. now owns 25,478 shares of the technology company’s stock worth $508,000 after buying an additional 10,542 shares during the period. 97.40% of the stock is currently owned by institutional investors.
Several analysts recently commented on EVH shares. Zacks Investment Research raised Evolent Health from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a research note on Monday, February 18th. TheStreet cut Evolent Health from a “c-” rating to a “d+” rating in a report on Friday, February 22nd. ValuEngine cut Evolent Health from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Finally, Oppenheimer lowered their target price on Evolent Health from $31.00 to $21.00 and set an “outperform” rating for the company in a report on Wednesday, February 27th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have given a buy rating to the company’s stock. Evolent Health presently has a consensus rating of “Buy” and a consensus target price of $26.54.
Evolent Health (NYSE:EVH) last released its earnings results on Tuesday, May 7th. The technology company reported ($0.38) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.40) by $0.02. The firm had revenue of $197.80 million during the quarter, compared to analysts’ expectations of $192.65 million. Evolent Health had a negative return on equity of 4.80% and a negative net margin of 12.52%. The company’s revenue was up 41.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.02 EPS. Sell-side analysts forecast that Evolent Health Inc will post -0.8 EPS for the current year.
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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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