Franklin Resources Inc. increased its stake in Evolent Health, Inc. (NYSE:EVH - Free Report) by 40.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 909,776 shares of the technology company's stock after purchasing an additional 263,815 shares during the quarter. Franklin Resources Inc. owned 0.78% of Evolent Health worth $24,682,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp boosted its stake in shares of 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 buying an additional 406,837 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Evolent Health by 10.7% during the 2nd quarter. HB Wealth Management LLC now owns 47,740 shares of the technology company's stock valued at $913,000 after purchasing an additional 4,601 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Evolent Health by 9.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,832 shares of the technology company's stock valued at $437,000 after purchasing an additional 1,881 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Evolent Health by 3.2% in the 2nd quarter. Principal Financial Group Inc. now owns 15,594 shares of the technology company's stock worth $298,000 after purchasing an additional 480 shares during the period. Finally, Peregrine Capital Management LLC boosted its holdings in shares of Evolent Health by 11.2% in the second quarter. Peregrine Capital Management LLC now owns 337,784 shares of the technology company's stock worth $6,458,000 after buying an additional 34,156 shares during the last quarter.
Shares of EVH opened at $11.18 on Friday. The firm has a market cap of $1.30 billion, a P/E ratio of -12.29 and a beta of 1.45. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.04. Evolent Health, Inc. has a 1 year low of $10.53 and a 1 year high of $35.00. The company has a 50 day simple moving average of $16.97 and a two-hundred day simple moving average of $22.23.
A number of analysts have commented on EVH shares. Citigroup reduced their target price on shares of Evolent Health from $33.00 to $21.00 and set a "buy" rating for the company in a report on Wednesday, November 13th. Stephens cut Evolent Health from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $38.00 to $16.00 in a report on Friday, November 8th. BTIG Research cut their price target on Evolent Health from $36.00 to $29.00 and set a "buy" rating for the company in a report on Tuesday, December 3rd. Truist Financial reaffirmed a "buy" rating and issued a $33.00 price objective on shares of Evolent Health in a research note on Tuesday, August 27th. Finally, Barclays lowered their price objective 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. One equities research analyst has rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $26.18.
View Our Latest Stock Report on Evolent Health
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.
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