Bridgewater Associates LP Sells 51,380 Shares of Evolent Health, Inc. (NYSE:EVH)

Bridgewater Associates LP reduced its stake in Evolent Health, Inc. (NYSE:EVH) by 70.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,118 shares of the technology company’s stock after selling 51,380 shares during the period. Bridgewater Associates LP’s holdings in Evolent Health were worth $238,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Salem Investment Counselors Inc. increased its position in shares of Evolent Health by 53.0% during the fourth quarter. Salem Investment Counselors Inc. now owns 350,155 shares of the technology company’s stock valued at $3,939,000 after buying an additional 121,369 shares during the period. Nordea Investment Management AB lifted its stake in Evolent Health by 7.0% in the 4th quarter. Nordea Investment Management AB now owns 130,453 shares of the technology company’s stock worth $1,469,000 after purchasing an additional 8,552 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Evolent Health by 90.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 803,211 shares of the technology company’s stock valued at $9,036,000 after purchasing an additional 380,790 shares during the period. Franklin Resources Inc. increased its holdings in shares of Evolent Health by 40.8% in the third quarter. Franklin Resources Inc. now owns 909,776 shares of the technology company’s stock worth $24,682,000 after purchasing an additional 263,815 shares during the period. Finally, Barclays PLC raised its position in shares of Evolent Health by 181.3% in the third quarter. Barclays PLC now owns 273,776 shares of the technology company’s stock worth $7,742,000 after buying an additional 176,445 shares in the last quarter.

Evolent Health Stock Performance

Shares of NYSE:EVH opened at $8.95 on Monday. 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 50-day moving average price of $9.64 and a 200-day moving average price of $13.10. The company has a market cap of $1.04 billion, a price-to-earnings ratio of -10.92 and a beta of 1.20. Evolent Health, Inc. has a 12 month low of $8.35 and a 12 month high of $33.63.

Evolent Health (NYSE:EVH) last released its quarterly earnings results on Thursday, February 20th. The technology company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.35). The business had revenue of $646.54 million for the quarter, compared to the consensus estimate of $650.92 million. Evolent Health had a negative net margin of 2.41% and a positive return on equity of 5.73%. As a group, equities analysts anticipate that Evolent Health, Inc. will post 0.08 EPS for the current year.

Insider Activity at Evolent Health

In other news, Director Diane Holder acquired 2,735 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were acquired at an average cost of $9.33 per share, with a total value of $25,517.55. Following the transaction, the director now owns 70,584 shares in the company, valued at $658,548.72. The trade was a 4.03 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Seth Blackley bought 55,225 shares of Evolent Health stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $9.01 per share, for a total transaction of $497,577.25. Following the acquisition, the chief executive officer now directly owns 762,217 shares in the company, valued at approximately $6,867,575.17. This trade represents a 7.81 % increase in their position. The disclosure for this purchase can be found here. Insiders have purchased a total of 74,000 shares of company stock worth $666,315 over the last quarter. Corporate insiders own 1.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on EVH. Canaccord Genuity Group lowered their price target on Evolent Health from $23.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, January 23rd. JMP Securities reissued a “market outperform” rating and issued a $12.00 price target on shares of Evolent Health in a report on Friday, February 14th. JPMorgan Chase & Co. lowered their price objective on shares of Evolent Health from $13.00 to $12.00 and set an “overweight” rating on the stock in a research report on Monday, March 10th. Oppenheimer reduced their target price on Evolent Health from $28.00 to $18.00 and set an “outperform” rating on the stock in a research note on Friday, January 24th. Finally, Royal Bank of Canada cut their price objective on Evolent Health from $20.00 to $17.00 and set an “outperform” rating for the company in a report on Tuesday, January 14th. One equities research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Evolent Health currently has a consensus rating of “Buy” and an average price target of $17.64.

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.