Fmr LLC Sells 1,793,603 Shares of Evolent Health, Inc. (NYSE:EVH)

Fmr LLC trimmed its stake in Evolent Health, Inc. (NYSE:EVH) by 29.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,332,229 shares of the technology company’s stock after selling 1,793,603 shares during the period. Fmr LLC owned approximately 3.73% of Evolent Health worth $122,515,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of EVH. Covestor Ltd lifted its stake in Evolent Health by 138.1% in the third quarter. Covestor Ltd now owns 1,424 shares of the technology company’s stock worth $40,000 after acquiring an additional 826 shares during the period. GAMMA Investing LLC lifted its stake in Evolent Health by 5,365.5% in the third quarter. GAMMA Investing LLC now owns 1,585 shares of the technology company’s stock worth $45,000 after acquiring an additional 1,556 shares during the period. Quarry LP purchased a new stake in Evolent Health in the second quarter worth $32,000. Canada Pension Plan Investment Board bought a new position in Evolent Health in the second quarter worth $61,000. Finally, Quest Partners LLC bought a new position in Evolent Health in the second quarter worth $87,000.

Wall Street Analyst Weigh In

EVH has been the subject of a number of research reports. BTIG Research decreased their price objective on Evolent Health from $36.00 to $29.00 and set a “buy” rating for the company in a report on Tuesday. Truist Financial reiterated a “buy” rating and issued a $33.00 price objective on shares of Evolent Health in a report on Tuesday, August 27th. Stephens downgraded Evolent Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $38.00 to $16.00 in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their price objective on Evolent Health from $45.00 to $15.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, JMP Securities decreased their price objective on Evolent Health from $34.00 to $31.00 and set a “market outperform” rating for the company in a report on Friday, August 9th. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $26.18.

Evolent Health Price Performance

Shares of NYSE:EVH opened at $11.52 on Thursday. Evolent Health, Inc. has a 1-year low of $11.17 and a 1-year high of $35.00. The business has a fifty day moving average price of $20.77 and a 200-day moving average price of $23.18. The company has a market capitalization of $1.34 billion, a PE ratio of -12.87 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

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.