Qsemble Capital Management LP Acquires New Shares in Evolent Health, Inc. (NYSE:EVH)

Qsemble Capital Management LP bought a new position in Evolent Health, Inc. (NYSE:EVH) in the third quarter, HoldingsChannel reports. The institutional investor bought 29,303 shares of the technology company’s stock, valued at approximately $829,000.

Several other hedge funds have also recently modified their holdings of EVH. RA Capital Management L.P. increased its holdings in Evolent Health by 125.0% in the 1st quarter. RA Capital Management L.P. now owns 5,736,132 shares of the technology company’s stock worth $188,088,000 after buying an additional 3,187,000 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of Evolent Health by 35.2% during the second quarter. William Blair Investment Management LLC now owns 5,026,043 shares of the technology company’s stock valued at $96,098,000 after purchasing an additional 1,308,376 shares during the last quarter. First Light Asset Management LLC lifted its position in Evolent Health by 401.5% during the second quarter. First Light Asset Management LLC now owns 1,445,305 shares of the technology company’s stock valued at $27,634,000 after purchasing an additional 1,157,124 shares during the period. Engaged Capital LLC boosted its holdings in Evolent Health by 26.1% in the second quarter. Engaged Capital LLC now owns 4,111,458 shares of the technology company’s stock worth $78,611,000 after purchasing an additional 850,000 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Evolent Health by 24.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,048,341 shares of the technology company’s stock worth $39,164,000 after purchasing an additional 406,837 shares during the period.

Evolent Health Stock Performance

Shares of NYSE EVH opened at $13.26 on Wednesday. The stock has a market cap of $1.55 billion, a PE ratio of -14.53 and a beta of 1.58. Evolent Health, Inc. has a 1 year low of $11.17 and a 1 year high of $35.00. The firm has a fifty day moving average price of $22.89 and a 200-day moving average price of $23.64. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. KeyCorp initiated coverage on Evolent Health in a report on Friday, October 11th. They set an “overweight” rating and a $35.00 price target on the stock. Stephens cut Evolent Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $38.00 to $16.00 in a research report on Friday, November 8th. Citigroup cut their price target on Evolent Health from $33.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, November 13th. Royal Bank of Canada reiterated an “outperform” rating and issued a $20.00 price objective on shares of Evolent Health in a research note on Tuesday, November 12th. Finally, Truist Financial restated a “buy” rating and set a $33.00 target price on shares of Evolent Health in a research report on Tuesday, August 27th. One equities research analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target 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.