Truist Financial Corp Reduces Stock Position in Evolent Health, Inc. (NYSE:EVH)

Truist Financial Corp trimmed its position in Evolent Health, Inc. (NYSE:EVH) by 0.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,226 shares of the technology company’s stock after selling 463 shares during the period. Truist Financial Corp owned about 0.07% of Evolent Health worth $2,815,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of EVH. Signaturefd LLC boosted its position in Evolent Health by 1,470.7% during the fourth quarter. Signaturefd LLC now owns 1,445 shares of the technology company’s stock worth $48,000 after acquiring an additional 1,353 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Evolent Health by 389.3% in the third quarter. Nisa Investment Advisors LLC now owns 5,035 shares of the technology company’s stock valued at $137,000 after purchasing an additional 4,006 shares during the period. Strs Ohio increased its stake in Evolent Health by 46.3% in the fourth quarter. Strs Ohio now owns 6,000 shares of the technology company’s stock valued at $198,000 after purchasing an additional 1,900 shares during the last quarter. Xponance Inc. purchased a new position in Evolent Health during the fourth quarter worth about $222,000. Finally, Mackenzie Financial Corp acquired a new stake in Evolent Health in the 4th quarter worth about $236,000.

Wall Street Analysts Forecast Growth

EVH has been the topic of several research analyst reports. JMP Securities raised their target price on shares of Evolent Health from $37.00 to $38.00 and gave the stock a “market outperform” rating in a research report on Friday, February 23rd. William Blair reaffirmed an “outperform” rating on shares of Evolent Health in a research report on Tuesday, January 9th. JPMorgan Chase & Co. cut their price objective on Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a report on Friday, March 15th. Oppenheimer started coverage on shares of Evolent Health in a research report on Friday, March 1st. They set an “outperform” rating and a $45.00 target price for the company. Finally, Canaccord Genuity Group reduced their price target on shares of Evolent Health from $45.00 to $44.00 and set a “buy” rating on the stock in a research report on Thursday, March 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $42.70.

Evolent Health Stock Performance

Shares of EVH stock opened at $27.62 on Wednesday. The company’s fifty day moving average price is $31.15 and its two-hundred day moving average price is $30.29. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $3.19 billion, a P/E ratio of -21.75 and a beta of 1.57. Evolent Health, Inc. has a 12 month low of $23.33 and a 12 month high of $35.83.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, February 22nd. The technology company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.13. The business had revenue of $556.06 million during the quarter, compared to the consensus estimate of $541.87 million. Evolent Health had a negative net margin of 5.76% and a positive return on equity of 6.60%. On average, research analysts anticipate that Evolent Health, Inc. will post 0.87 earnings per share for the current fiscal year.

About Evolent Health

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.