Evolent Health, Inc. (NYSE:EVH) is Rock Point Advisors LLC’s 6th Largest Position

Rock Point Advisors LLC cut its holdings in shares of Evolent Health, Inc. (NYSE:EVH) by 5.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 465,782 shares of the technology company’s stock after selling 26,605 shares during the period. Evolent Health comprises approximately 3.6% of Rock Point Advisors LLC’s investment portfolio, making the stock its 6th biggest holding. Rock Point Advisors LLC owned approximately 0.40% of Evolent Health worth $13,172,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. Qsemble Capital Management LP purchased a new position in Evolent Health during the third quarter valued at approximately $829,000. Algert Global LLC grew its stake in shares of Evolent Health by 120.2% during the 3rd quarter. Algert Global LLC now owns 23,025 shares of the technology company’s stock worth $651,000 after purchasing an additional 12,570 shares during the period. Foundry Partners LLC purchased a new position in shares of Evolent Health during the 3rd quarter valued at approximately $10,042,000. Intech Investment Management LLC acquired a new position in shares of Evolent Health in the 3rd quarter valued at $989,000. Finally, Jennison Associates LLC boosted its holdings in Evolent Health by 5.7% during the third quarter. Jennison Associates LLC now owns 646,806 shares of the technology company’s stock worth $18,292,000 after buying an additional 34,990 shares in the last quarter.

Evolent Health Price Performance

Shares of Evolent Health stock traded down $0.02 during mid-day trading on Tuesday, reaching $12.19. 124,112 shares of the stock traded hands, compared to its average volume of 1,786,817. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average of $22.89 and a 200 day moving average of $23.64. The stock has a market capitalization of $1.42 billion, a PE ratio of -13.42 and a beta of 1.58. Evolent Health, Inc. has a fifty-two week low of $11.17 and a fifty-two week high of $35.00.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on EVH shares. KeyCorp initiated coverage on shares of Evolent Health in a report on Friday, October 11th. They issued an “overweight” rating and a $35.00 price objective for the company. Barclays dropped their target price on Evolent Health from $39.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, November 11th. Citigroup reduced their price target on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, November 13th. JPMorgan Chase & Co. lowered their price target on Evolent Health from $45.00 to $15.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $20.00 price objective on shares of Evolent Health in a research report on Tuesday, November 12th. One analyst has rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Evolent Health has a consensus rating of “Buy” and an average target price of $25.90.

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.