First Light Asset Management LLC Sells 193,268 Shares of Evolent Health, Inc $EVH

First Light Asset Management LLC cut its stake in shares of Evolent Health, Inc (NYSE:EVH) by 26.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 545,282 shares of the technology company’s stock after selling 193,268 shares during the period. First Light Asset Management LLC owned 0.46% of Evolent Health worth $4,613,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Eventide Asset Management LLC increased its position in shares of Evolent Health by 54.0% during the 3rd quarter. Eventide Asset Management LLC now owns 6,292,511 shares of the technology company’s stock valued at $53,246,000 after purchasing an additional 2,205,659 shares during the last quarter. Capitolis Liquid Global Markets LLC lifted its position in Evolent Health by 1.0% in the third quarter. Capitolis Liquid Global Markets LLC now owns 630,000 shares of the technology company’s stock worth $5,330,000 after buying an additional 6,500 shares during the last quarter. Boothbay Fund Management LLC bought a new stake in Evolent Health in the third quarter worth $263,000. Aquatic Capital Management LLC bought a new stake in Evolent Health in the third quarter worth $1,345,000. Finally, Schonfeld Strategic Advisors LLC purchased a new position in Evolent Health during the third quarter worth $2,191,000.

Evolent Health Stock Performance

EVH stock opened at $2.99 on Monday. Evolent Health, Inc has a twelve month low of $2.50 and a twelve month high of $12.06. The firm has a market cap of $333.25 million, a price-to-earnings ratio of -0.58 and a beta of 0.24. The business’s fifty day simple moving average is $3.33 and its two-hundred day simple moving average is $5.33. The company has a quick ratio of 1.31, a current ratio of 1.31 and a debt-to-equity ratio of 2.34.

Evolent Health (NYSE:EVH) last issued its earnings results on Tuesday, February 24th. The technology company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.02. The firm had revenue of $468.72 million during the quarter, compared to analyst estimates of $468.48 million. Evolent Health had a negative net margin of 28.49% and a positive return on equity of 1.49%. The business’s revenue was down 27.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.02) earnings per share. Analysts predict that Evolent Health, Inc will post 0.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on EVH. UBS Group cut their price objective on shares of Evolent Health from $10.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. BTIG Research dropped their price target on shares of Evolent Health from $10.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Oppenheimer cut their price target on shares of Evolent Health from $12.00 to $6.00 and set an “outperform” rating on the stock in a report on Monday, March 2nd. Wall Street Zen raised shares of Evolent Health from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Citizens Jmp decreased their price objective on shares of Evolent Health from $11.00 to $10.00 and set a “market outperform” rating for the company in a research note on Tuesday, January 6th. Thirteen analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Evolent Health currently has an average rating of “Moderate Buy” and an average target price of $6.04.

Evolent Health Company Profile

Evolent Health, Inc is a U.S.-based healthcare technology and services company that partners with health systems, physician organizations and health plans to design, build and operate value-based care programs. Headquartered in Arlington, Virginia, the company was founded in 2011 as a joint venture between TPG and the University of Pittsburgh Medical Center (UPMC). Evolent Health aims to help its clients transition from fee-for-service payment models to value-based care arrangements by leveraging its proprietary technology platforms and clinical expertise.

The company’s core offerings include care management solutions, population health analytics and clinical advisory services.