ERn Financial LLC Decreases Stake in Evolent Health, Inc. (NYSE:EVH)

ERn Financial LLC cut its stake in Evolent Health, Inc. (NYSE:EVH) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,574 shares of the technology company’s stock after selling 7,676 shares during the quarter. ERn Financial LLC owned about 0.05% of Evolent Health worth $1,953,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Rhumbline Advisers boosted its holdings in shares of Evolent Health by 1.3% in the 3rd quarter. Rhumbline Advisers now owns 164,189 shares of the technology company’s stock valued at $4,471,000 after buying an additional 2,157 shares during the period. Hsbc Holdings PLC boosted its position in shares of Evolent Health by 8.7% in the third quarter. Hsbc Holdings PLC now owns 95,783 shares of the technology company’s stock worth $2,608,000 after buying an additional 7,626 shares during the period. Northern Trust Corp increased its holdings in shares of Evolent Health by 2.5% in the 3rd quarter. Northern Trust Corp now owns 1,217,726 shares of the technology company’s stock valued at $33,159,000 after purchasing an additional 29,692 shares during the period. Algert Global LLC acquired a new stake in shares of Evolent Health during the 3rd quarter valued at $1,883,000. Finally, Adage Capital Partners GP L.L.C. increased its position in Evolent Health by 7.5% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 847,768 shares of the technology company’s stock worth $23,085,000 after purchasing an additional 59,376 shares during the last quarter.

Evolent Health Trading Down 3.5 %

Shares of Evolent Health stock traded down $0.73 during trading on Thursday, reaching $20.06. The stock had a trading volume of 2,309,513 shares, compared to its average volume of 1,156,337. The stock has a fifty day moving average price of $24.39 and a two-hundred day moving average price of $29.08. 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, Inc. has a 52 week low of $19.74 and a 52 week high of $35.00.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, May 9th. The technology company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.04. Evolent Health had a negative net margin of 5.07% and a positive return on equity of 6.90%. The business had revenue of $639.65 million during the quarter, compared to the consensus estimate of $601.60 million. On average, research analysts expect that Evolent Health, Inc. will post 0.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

EVH has been the subject of several recent analyst reports. Citigroup started coverage on Evolent Health in a research note on Monday, April 22nd. They set a “buy” rating and a $40.00 price target for the company. JMP Securities dropped their target price on shares of Evolent Health from $38.00 to $34.00 and set a “market outperform” rating for the company in a research note on Friday, May 10th. Oppenheimer assumed coverage on Evolent Health in a report on Friday, March 1st. They issued an “outperform” rating and a $45.00 price target on the stock. Canaccord Genuity Group dropped their target price on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. cut their target price on Evolent Health from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, March 15th. One equities research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.00.

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.