Redmile Group LLC Trims Holdings in Evolent Health, Inc. (NYSE:EVH)

Redmile Group LLC trimmed its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 18.7% during the first quarter, HoldingsChannel.com reports. The firm owned 679,172 shares of the technology company’s stock after selling 156,365 shares during the quarter. Redmile Group LLC’s holdings in Evolent Health were worth $22,270,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in EVH. Ascent Group LLC increased its position in shares of Evolent Health by 2.8% during the first quarter. Ascent Group LLC now owns 20,330 shares of the technology company’s stock valued at $667,000 after buying an additional 550 shares during the period. First Light Asset Management LLC lifted its stake in Evolent Health by 252.6% in the 1st quarter. First Light Asset Management LLC now owns 288,181 shares of the technology company’s stock worth $9,449,000 after purchasing an additional 206,459 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Evolent Health by 11.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 717,334 shares of the technology company’s stock valued at $23,522,000 after purchasing an additional 75,376 shares during the period. Hood River Capital Management LLC grew its position in shares of Evolent Health by 6.6% during the 1st quarter. Hood River Capital Management LLC now owns 2,207,037 shares of the technology company’s stock valued at $72,369,000 after purchasing an additional 137,004 shares in the last quarter. Finally, Gabelli Funds LLC increased its holdings in shares of Evolent Health by 21.5% in the first quarter. Gabelli Funds LLC now owns 638,500 shares of the technology company’s stock worth $20,936,000 after purchasing an additional 113,000 shares during the period.

Evolent Health Trading Down 1.4 %

EVH stock traded down $0.34 on Monday, reaching $23.32. The company’s stock had a trading volume of 1,917,213 shares, compared to its average volume of 1,374,083. The firm has a market cap of $2.71 billion, a PE ratio of -18.66 and a beta of 1.54. The business has a fifty day simple moving average of $21.40 and a two-hundred day simple moving average of $27.20. Evolent Health, Inc. has a 12-month low of $17.98 and a 12-month high of $35.00. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.02 and a current ratio of 1.02.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. The business had revenue of $639.65 million during the quarter, compared to analyst estimates of $601.60 million. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. As a group, research analysts forecast that Evolent Health, Inc. will post 0.9 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on EVH. JMP Securities lowered their price target on Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a report on Friday, May 10th. Canaccord Genuity Group lowered their target price on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. Finally, Citigroup initiated coverage on shares of Evolent Health in a research note on Monday, April 22nd. They issued a “buy” rating and a $40.00 price target for the company. 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

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.