Evolent Health, Inc. (NYSE:EVH) Position Trimmed by Millennium Management LLC

Millennium Management LLC lessened its stake in Evolent Health, Inc. (NYSE:EVH) by 13.3% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 1,261,338 shares of the technology company’s stock after selling 193,535 shares during the quarter. Millennium Management LLC’s holdings in Evolent Health were worth $24,117,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP raised its position in Evolent Health by 96.1% during the fourth quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock valued at $274,584,000 after acquiring an additional 4,073,959 shares in the last quarter. RA Capital Management L.P. lifted its stake in shares of Evolent Health by 125.0% in the first quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after buying an additional 3,187,000 shares during the last quarter. William Blair Investment Management LLC boosted its holdings 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. Point72 Asset Management L.P. grew its stake in Evolent Health by 81.3% in the 4th quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock valued at $88,355,000 after buying an additional 1,199,400 shares during the last quarter. Finally, First Light Asset Management LLC raised its holdings in Evolent Health by 401.5% in 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 acquiring an additional 1,157,124 shares during the period.

Insider Buying and Selling

In related news, COO Emily Ann Rafferty sold 8,861 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $265,830.00. Following the completion of the transaction, the chief operating officer now owns 63,408 shares in the company, valued at $1,902,240. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO John Paul Johnson sold 44,693 shares of the firm’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total transaction of $1,340,790.00. Following the sale, the chief financial officer now directly owns 171,207 shares in the company, valued at $5,136,210. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Emily Ann Rafferty sold 8,861 shares of the business’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $30.00, for a total value of $265,830.00. Following the completion of the sale, the chief operating officer now owns 63,408 shares in the company, valued at $1,902,240. The disclosure for this sale can be found here. Insiders sold a total of 307,291 shares of company stock valued at $9,290,385 over the last three months. Company insiders own 1.60% of the company’s stock.

Evolent Health Trading Down 1.6 %

EVH stock opened at $26.15 on Friday. The company has a market cap of $3.04 billion, a P/E ratio of -20.92 and a beta of 1.57. Evolent Health, Inc. has a twelve month low of $17.98 and a twelve month high of $35.00. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.57. The business has a fifty day moving average of $27.95 and a 200-day moving average of $26.11.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Thursday, August 8th. The technology company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The firm had revenue of $647.10 million for the quarter, compared to analysts’ expectations of $636.46 million. Evolent Health had a negative net margin of 3.16% and a positive return on equity of 8.47%. The business’s revenue for the quarter was up 37.9% on a year-over-year basis. During the same period last year, the firm earned $0.06 earnings per share. As a group, equities research analysts expect that Evolent Health, Inc. will post 0.86 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on EVH. JMP Securities cut 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 note on Friday, August 9th. JPMorgan Chase & Co. raised their price target on shares of Evolent Health from $36.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. Stephens reaffirmed an “overweight” rating and set a $42.00 price objective on shares of Evolent Health in a research note on Tuesday, July 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $42.00 target price on shares of Evolent Health in a research note on Monday, August 26th. Finally, Truist Financial reaffirmed a “buy” rating and set a $33.00 price target on shares of Evolent Health in a report on Tuesday, August 27th. One research analyst has rated the stock with a sell rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $40.40.

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.