Vanguard Group Inc grew its stake in shares of Evolent Health Inc (NYSE:EVH) by 8.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,713,530 shares of the technology company’s stock after purchasing an additional 439,172 shares during the quarter. Vanguard Group Inc owned approximately 6.95% of Evolent Health worth $162,264,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds also recently added to or reduced their stakes in the company. First Trust Advisors LP acquired a new position in Evolent Health during the 2nd quarter valued at about $1,730,000. Rhumbline Advisers boosted its stake in Evolent Health by 17.5% during the 2nd quarter. Rhumbline Advisers now owns 68,036 shares of the technology company’s stock valued at $1,432,000 after purchasing an additional 10,113 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Evolent Health by 8.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 339,594 shares of the technology company’s stock valued at $7,149,000 after purchasing an additional 27,390 shares during the last quarter. BlackRock Inc. boosted its stake in Evolent Health by 16.1% during the 2nd quarter. BlackRock Inc. now owns 4,362,231 shares of the technology company’s stock valued at $91,823,000 after purchasing an additional 605,714 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new position in Evolent Health during the 2nd quarter valued at about $210,000.
Shares of NYSE EVH opened at $19.20 on Friday. Evolent Health Inc has a twelve month low of $13.06 and a twelve month high of $29.05. The company has a debt-to-equity ratio of 0.12, a current ratio of 2.50 and a quick ratio of 2.50.
A number of equities analysts have issued reports on EVH shares. ValuEngine downgraded Evolent Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. Citigroup boosted their target price on Evolent Health from $25.00 to $32.00 and gave the stock a “buy” rating in a research note on Thursday, October 4th. Canaccord Genuity boosted their target price on Evolent Health from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Thursday, September 13th. Leerink Swann set a $35.00 target price on Evolent Health and gave the stock a “buy” rating in a research note on Friday, October 5th. Finally, Zacks Investment Research upgraded Evolent Health from a “hold” rating to a “buy” rating and set a $27.00 target price on the stock in a research note on Tuesday, December 4th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $31.82.
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About Evolent Health
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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