Bayesian Capital Management LP Makes New $559,000 Investment in Evolent Health, Inc. (NYSE:EVH)

Bayesian Capital Management LP purchased a new position in shares of Evolent Health, Inc. (NYSE:EVH) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 17,035 shares of the technology company’s stock, valued at approximately $559,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in shares of Evolent Health by 96.1% in the fourth quarter. Wellington Management Group LLP now owns 8,313,157 shares of the technology company’s stock valued at $274,584,000 after purchasing an additional 4,073,959 shares during the period. Norges Bank bought a new position in shares of Evolent Health in the fourth quarter valued at about $43,759,000. Point72 Asset Management L.P. raised its position in shares of Evolent Health by 81.3% in the fourth quarter. Point72 Asset Management L.P. now owns 2,675,000 shares of the technology company’s stock valued at $88,355,000 after purchasing an additional 1,199,400 shares during the period. Zevenbergen Capital Investments LLC grew its stake in shares of Evolent Health by 126.5% in the first quarter. Zevenbergen Capital Investments LLC now owns 565,625 shares of the technology company’s stock valued at $18,547,000 after acquiring an additional 315,875 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Evolent Health by 2.1% in the fourth quarter. Vanguard Group Inc. now owns 10,821,331 shares of the technology company’s stock valued at $357,429,000 after acquiring an additional 226,691 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on EVH. Canaccord Genuity Group decreased their price target on shares of Evolent Health from $44.00 to $41.00 and set a “buy” rating on the stock in a research note on Friday, May 10th. JMP Securities reduced their price objective on shares of Evolent Health from $38.00 to $34.00 and set a “market outperform” rating for the company in a research report on Friday, May 10th. Stephens reissued an “overweight” rating and issued a $42.00 price target on shares of Evolent Health in a research report on Tuesday. Finally, Citigroup assumed coverage on shares of Evolent Health in a research report on Monday, April 22nd. They issued a “buy” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $42.00.

Evolent Health Price Performance

Shares of NYSE EVH traded down $0.43 during midday trading on Wednesday, hitting $23.28. 74,889 shares of the company’s stock were exchanged, compared to its average volume of 1,369,321. Evolent Health, Inc. has a 12-month low of $17.98 and a 12-month high of $35.00. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.57. The company has a market cap of $2.71 billion, a price-to-earnings ratio of -18.66 and a beta of 1.54. The business’s fifty day moving average price is $21.41 and its two-hundred day moving average price is $27.14.

Evolent Health (NYSE:EVH) last issued its quarterly earnings data on Thursday, May 9th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.12 by $0.04. Evolent Health had a positive return on equity of 6.90% and a negative net margin of 5.07%. The company had revenue of $639.65 million during the quarter, compared to analyst estimates of $601.60 million. As a group, research analysts forecast that Evolent Health, Inc. will post 0.9 EPS for the current fiscal year.

Evolent Health Profile

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.