Bridgewater Associates LP Lowers Stake in Evolent Health, Inc. (NYSE:EVH)

Bridgewater Associates LP decreased its holdings in Evolent Health, Inc. (NYSE:EVH) by 52.6% in the third quarter, HoldingsChannel.com reports. The firm owned 72,498 shares of the technology company’s stock after selling 80,387 shares during the quarter. Bridgewater Associates LP’s holdings in Evolent Health were worth $2,050,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. William Blair Investment Management LLC raised its stake in shares of Evolent Health by 35.2% during the 2nd quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock worth $96,098,000 after buying an additional 1,308,376 shares during the period. Engaged Capital LLC raised its position in Evolent Health by 26.1% during the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after acquiring an additional 850,000 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Evolent Health by 5.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,368,255 shares of the technology company’s stock valued at $45,286,000 after purchasing an additional 121,770 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Evolent Health by 24.8% during the second quarter. Bank of New York Mellon Corp now owns 2,048,341 shares of the technology company’s stock worth $39,164,000 after purchasing an additional 406,837 shares in the last quarter. Finally, First Light Asset Management LLC raised its position in shares of Evolent Health by 401.5% during the 2nd quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock worth $27,634,000 after purchasing an additional 1,157,124 shares during the last quarter.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on EVH shares. Citigroup lowered their price objective on Evolent Health from $33.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, November 13th. KeyCorp initiated coverage on Evolent Health in a research report on Friday, October 11th. They set an “overweight” rating and a $35.00 price target for the company. Stephens lowered Evolent Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $38.00 to $16.00 in a report on Friday, November 8th. Truist Financial reaffirmed a “buy” rating and set a $33.00 target price on shares of Evolent Health in a report on Tuesday, August 27th. Finally, JMP Securities reduced their target price on shares of Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a research report on Friday, August 9th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Evolent Health has an average rating of “Buy” and an average target price of $25.90.

Evolent Health Trading Down 0.1 %

Shares of EVH opened at $12.92 on Friday. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $21.47 and a 200 day moving average price of $23.34. Evolent Health, Inc. has a 12-month low of $11.17 and a 12-month high of $35.00. The firm has a market capitalization of $1.51 billion, a P/E ratio of -14.20 and a beta of 1.58.

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.