Truist Financial Corp Grows Position in Evolent Health, Inc. (NYSE:EVH)


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Truist Financial Corp boosted its stake in shares of Evolent Health, Inc. (NYSE:EVH) by 35.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 402,906 shares of the technology company’s stock after buying an additional 104,984 shares during the period. Truist Financial Corp’s holdings in Evolent Health were worth $6,459,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in Evolent Health during the 4th quarter valued at approximately $1,516,000. Wolff Wiese Magana LLC bought a new position in Evolent Health during the 4th quarter valued at approximately $48,000. ProShare Advisors LLC bought a new position in Evolent Health during the 4th quarter valued at approximately $268,000. Aperio Group LLC increased its position in Evolent Health by 7.8% during the 3rd quarter. Aperio Group LLC now owns 16,807 shares of the technology company’s stock valued at $209,000 after buying an additional 1,217 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position in Evolent Health by 17.9% during the 3rd quarter. Point72 Asset Management L.P. now owns 628,880 shares of the technology company’s stock valued at $7,804,000 after buying an additional 95,335 shares in the last quarter. 93.15% of the stock is owned by institutional investors.

EVH has been the subject of a number of analyst reports. Piper Sandler raised their price objective on Evolent Health from $25.00 to $27.00 and gave the company an “overweight” rating in a research report on Friday, February 26th. BTIG Research lifted their target price on Evolent Health from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Friday, February 26th. Cowen lifted their target price on Evolent Health from $19.00 to $25.00 and gave the stock an “outperform” rating in a report on Friday, February 26th. Zacks Investment Research lowered Evolent Health from a “buy” rating to a “hold” rating in a report on Monday, January 11th. Finally, Canaccord Genuity lifted their target price on Evolent Health from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Monday, March 8th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Evolent Health has an average rating of “Buy” and a consensus price target of $17.91.

EVH stock opened at $19.68 on Thursday. The company has a market cap of $1.69 billion, a P/E ratio of -3.23 and a beta of 2.40. Evolent Health, Inc. has a 1 year low of $5.22 and a 1 year high of $22.35. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.50 and a quick ratio of 1.50. The stock’s fifty day moving average price is $20.00 and its 200-day moving average price is $16.00.

Evolent Health (NYSE:EVH) last released its earnings results on Thursday, February 25th. The technology company reported ($0.01) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.09. Evolent Health had a negative return on equity of 4.40% and a negative net margin of 52.35%. As a group, analysts expect that Evolent Health, Inc. will post -0.41 earnings per share for the current year.

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 through two segments, Services and True Health. The Services segment provides value-based care services that include Identifi, a proprietary technology system that aggregates and analyzes data, manages care workflows and engages patients; population health performance that delivers patient-centric cost effective care; and delivery network alignments.

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

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