Wellington Management Group LLP Grows Stock Holdings in Evolent Health, Inc. (NYSE:EVH)

Wellington Management Group LLP raised its stake in Evolent Health, Inc. (NYSE:EVH) by 96.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,313,157 shares of the technology company’s stock after purchasing an additional 4,073,959 shares during the quarter. Wellington Management Group LLP owned about 7.20% of Evolent Health worth $274,584,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Chicago Partners Investment Group LLC acquired a new position in shares of Evolent Health during the 4th quarter valued at $228,000. First Light Asset Management LLC acquired a new position in shares of Evolent Health during the 4th quarter valued at $2,699,000. Point72 Asset Management L.P. lifted its holdings in shares of Evolent Health by 81.3% during 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 acquiring an additional 1,199,400 shares in the last quarter. Rhenman & Partners Asset Management AB lifted its holdings in shares of Evolent Health by 58.6% during the 4th quarter. Rhenman & Partners Asset Management AB now owns 230,000 shares of the technology company’s stock valued at $7,597,000 after acquiring an additional 85,000 shares in the last quarter. Finally, Pura Vida Investments LLC acquired a new position in shares of Evolent Health during the 4th quarter valued at $2,133,000.

Evolent Health Stock Performance

Shares of Evolent Health stock opened at $21.67 on Tuesday. The stock has a market capitalization of $2.52 billion, a P/E ratio of -17.34 and a beta of 1.44. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a 50-day simple moving average of $25.59 and a 200 day simple moving average of $29.40. Evolent Health, Inc. has a 12-month low of $20.54 and a 12-month high of $35.00.

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

Analyst Upgrades and Downgrades

Several research firms recently weighed in on EVH. JMP Securities reduced their target price on shares of Evolent Health from $38.00 to $34.00 and set a “market outperform” rating on the stock in a report on Friday, May 10th. Oppenheimer initiated coverage on shares of Evolent Health in a research report on Friday, March 1st. They set an “outperform” rating and a $45.00 price objective for the company. Citigroup initiated coverage on shares of Evolent Health in a research report on Monday, April 22nd. They issued a “buy” rating and a $40.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Evolent Health from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, March 15th. Finally, Canaccord Genuity Group reduced their price target on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating for the company in a research note on Friday, May 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Evolent Health currently has a consensus rating of “Moderate Buy” and an average target price of $42.00.

Evolent Health Company 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.