IMA Wealth Inc. Buys 86,871 Shares of Evolent Health Inc (EVH)

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IMA Wealth Inc. grew its stake in Evolent Health Inc (NYSE:EVH) by 56.8% during the 1st quarter, HoldingsChannel reports. The firm owned 239,726 shares of the technology company’s stock after buying an additional 86,871 shares during the quarter. Evolent Health accounts for about 1.2% of IMA Wealth Inc.’s investment portfolio, making the stock its 29th biggest holding. IMA Wealth Inc.’s holdings in Evolent Health were worth $3,016,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in EVH. Bank of Montreal Can boosted its holdings in Evolent Health by 6.1% during the fourth quarter. Bank of Montreal Can now owns 106,476 shares of the technology company’s stock worth $2,124,000 after purchasing an additional 6,094 shares during the last quarter. We Are One Seven LLC purchased a new position in Evolent Health during the fourth quarter worth about $99,000. Oppenheimer & Co. Inc. boosted its holdings in Evolent Health by 67.9% during the fourth quarter. Oppenheimer & Co. Inc. now owns 99,888 shares of the technology company’s stock worth $1,993,000 after purchasing an additional 40,395 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its holdings in Evolent Health by 15.8% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 155,607 shares of the technology company’s stock worth $3,104,000 after purchasing an additional 21,233 shares during the last quarter. Finally, Gamco Investors INC. ET AL boosted its holdings in Evolent Health by 6.1% during the fourth quarter. Gamco Investors INC. ET AL now owns 182,903 shares of the technology company’s stock worth $3,649,000 after purchasing an additional 10,500 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company’s stock.

Several research firms recently weighed in on EVH. Zacks Investment Research cut shares of Evolent Health from a “buy” rating to a “hold” rating in a report on Friday, May 10th. KeyCorp cut their price target on shares of Evolent Health from $32.00 to $20.00 and set an “overweight” rating on the stock in a report on Monday, March 4th. Finally, ValuEngine cut shares of Evolent Health from a “buy” rating to a “hold” rating in a report on Thursday, February 28th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Evolent Health currently has a consensus rating of “Buy” and a consensus target price of $26.54.

EVH stock traded up $0.25 during mid-day trading on Monday, hitting $14.15. The company had a trading volume of 488,423 shares, compared to its average volume of 764,149. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of -40.43 and a beta of 1.26. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.96 and a current ratio of 1.96. Evolent Health Inc has a 12 month low of $12.09 and a 12 month high of $29.05.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, May 7th. The technology company reported ($0.38) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.02. The business had revenue of $197.80 million for the quarter, compared to analyst estimates of $192.65 million. Evolent Health had a negative net margin of 12.52% and a negative return on equity of 4.80%. The company’s revenue for the quarter was up 41.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 earnings per share. Analysts forecast that Evolent Health Inc will post -0.8 earnings per share for the current year.

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Evolent Health Profile

Evolent Health, Inc, through its subsidiary, Evolent Health LLC, provides health care delivery and payment solutions in the United States. The company operates as a managed services firm that supports health systems and physician organizations in migration toward value-based care and population health management.

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Institutional Ownership by Quarter for Evolent Health (NYSE:EVH)

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