Geode Capital Management LLC Reduces Holdings in Evolent Health, Inc. (NYSE:EVH)

Geode Capital Management LLC reduced its position in shares of Evolent Health, Inc. (NYSE:EVH) by 3.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,520,818 shares of the technology company’s stock after selling 80,757 shares during the period. Geode Capital Management LLC owned about 2.17% of Evolent Health worth $71,303,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in EVH. Principal Financial Group Inc. lifted its holdings in Evolent Health by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company’s stock worth $298,000 after buying an additional 480 shares in the last quarter. Arizona State Retirement System increased its position in shares of Evolent Health by 2.3% during the second quarter. Arizona State Retirement System now owns 29,083 shares of the technology company’s stock worth $556,000 after acquiring an additional 649 shares during the last quarter. Covestor Ltd lifted its stake in shares of 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 in the last quarter. GAMMA Investing LLC boosted its holdings 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 valued at $45,000 after purchasing an additional 1,556 shares during the last quarter. Finally, Quarry LP acquired a new stake in Evolent Health during the 2nd quarter valued at approximately $32,000.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EVH shares. KeyCorp began coverage on Evolent Health in a research report on Friday, October 11th. They issued an “overweight” rating and a $35.00 target price on the stock. Oppenheimer cut their price target on shares of Evolent Health from $34.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, November 18th. Citigroup decreased their price objective on shares of Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. Truist Financial restated a “buy” rating and issued a $33.00 target price on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, Barclays decreased their price target on Evolent Health from $39.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus price target of $26.18.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $11.41 on Friday. Evolent Health, Inc. has a 12-month low of $10.53 and a 12-month high of $35.00. The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 0.58. The company has a market cap of $1.33 billion, a PE ratio of -12.54 and a beta of 1.45. The stock has a 50 day simple moving average of $16.97 and a 200-day simple moving average of $22.23.

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.