Evolent Health, Inc. (NYSE:EVH) Shares Sold by LPL Financial LLC

LPL Financial LLC cut its position in Evolent Health, Inc. (NYSE:EVH – Get Rating) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 24,412 shares of the technology company’s stock after selling 742 shares during the period. LPL Financial LLC’s holdings in Evolent Health were worth $685,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Nuveen Asset Management LLC lifted its stake in shares of Evolent Health by 9.7% in the third quarter. Nuveen Asset Management LLC now owns 1,136,785 shares of the technology company’s stock worth $40,845,000 after buying an additional 100,206 shares in the last quarter. Putnam Investments LLC acquired a new position in shares of Evolent Health during the 3rd quarter worth approximately $2,411,000. Prudential Financial Inc. increased its holdings in shares of Evolent Health by 34.8% in the third quarter. Prudential Financial Inc. now owns 157,309 shares of the technology company’s stock valued at $5,654,000 after purchasing an additional 40,590 shares during the last quarter. Penserra Capital Management LLC increased its holdings in shares of Evolent Health by 43.6% in the third quarter. Penserra Capital Management LLC now owns 27,081 shares of the technology company’s stock valued at $973,000 after purchasing an additional 8,218 shares during the last quarter. Finally, Moody’s National Bank Trust Division lifted its position in Evolent Health by 20.6% during the fourth quarter. Moody’s National Bank Trust Division now owns 41,006 shares of the technology company’s stock worth $1,151,000 after buying an additional 7,000 shares in the last quarter. 93.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on EVH. StockNews.com initiated coverage on Evolent Health in a research note on Thursday, May 18th. They issued a “sell” rating for the company. Royal Bank of Canada restated an “outperform” rating and set a $44.00 price objective on shares of Evolent Health in a research report on Thursday, February 23rd. Stephens started coverage on shares of Evolent Health in a research note on Tuesday, April 11th. They issued an “overweight” rating and a $40.00 price target for the company. Finally, BTIG Research lifted their price target on shares of Evolent Health from $40.00 to $45.00 in a research report on Thursday, February 23rd. One equity research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $47.00.

Insider Buying and Selling

In other Evolent Health news, Director Frank J. Williams sold 90,356 shares of the stock in a transaction that occurred on Monday, March 6th. The shares were sold at an average price of $34.42, for a total value of $3,110,053.52. Following the sale, the director now directly owns 936,123 shares of the company’s stock, valued at approximately $32,221,353.66. The sale was disclosed in a legal filing with the SEC, which is available on the SEC website. In other Evolent Health news, Director Frank J. Williams sold 110,000 shares of the company’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $36.29, for a total value of $3,991,900.00. Following the completion of the transaction, the director now owns 819,812 shares in the company, valued at $29,750,977.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank J. Williams sold 90,356 shares of the business’s stock in a transaction dated Monday, March 6th. The shares were sold at an average price of $34.42, for a total value of $3,110,053.52. Following the completion of the sale, the director now directly owns 936,123 shares of the company’s stock, valued at $32,221,353.66. The disclosure for this sale can be found here. Insiders sold 384,284 shares of company stock worth $13,147,855 over the last 90 days. 4.20% of the stock is owned by insiders.

Evolent Health Stock Performance

Shares of EVH stock opened at $29.83 on Friday. The firm has a 50 day moving average of $32.97 and a two-hundred day moving average of $31.00. The stock has a market capitalization of $3.36 billion, a PE ratio of -78.50 and a beta of 1.55. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.56. Evolent Health, Inc. has a 52 week low of $21.83 and a 52 week high of $39.78.

Evolent Health (NYSE:EVH – Get Rating) last issued its quarterly earnings results on Wednesday, May 3rd. The technology company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.07. The company had revenue of $427.69 million for the quarter, compared to the consensus estimate of $435.58 million. Evolent Health has a positive return on equity of 7.86% and a negative net margin of 2.28%. On average, research analysts predict that Evolent Health, Inc. will post 0.19 EPS for the current fiscal year.

Evolent Health Company Profile

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Evolent Health, Inc. engages in the provision of healthcare delivery and payment services. It deals with population health management, health plan and third party administration, network performance and pharmacy benefit management, risk adjustment, analytics and performance improvement, and technology and electronic medical record integration.

See Also

Want to see what other hedge funds are holding EVH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Evolent Health, Inc. (NYSE:EVH – Get Rating).

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