Fox Run Management L.L.C. Invests $363,000 in Evolent Health, Inc (NYSE:EVH)

Fox Run Management L.L.C. acquired a new stake in Evolent Health, Inc (NYSE:EVH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 14,300 shares of the technology company’s stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EVH. US Bancorp DE increased its position in shares of Evolent Health by 0.3% in the first quarter. US Bancorp DE now owns 5,654 shares of the technology company’s stock worth $126,000 after buying an additional 19 shares in the last quarter. American International Group Inc. increased its position in shares of Evolent Health by 7.5% in the first quarter. American International Group Inc. now owns 9,403 shares of the technology company’s stock worth $210,000 after buying an additional 653 shares in the last quarter. White Pine Investment CO increased its position in shares of Evolent Health by 0.8% in the first quarter. White Pine Investment CO now owns 97,470 shares of the technology company’s stock worth $2,174,000 after buying an additional 750 shares in the last quarter. Teachers Advisors LLC increased its position in shares of Evolent Health by 5.1% in the fourth quarter. Teachers Advisors LLC now owns 25,119 shares of the technology company’s stock worth $372,000 after buying an additional 1,211 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its position in shares of Evolent Health by 12.2% in the first quarter. Salem Investment Counselors Inc. now owns 31,730 shares of the technology company’s stock worth $734,000 after buying an additional 3,450 shares in the last quarter. Institutional investors own 69.03% of the company’s stock.

Evolent Health, Inc (NYSE EVH) opened at 24.55 on Friday. The company has a 50-day moving average price of $25.83 and a 200-day moving average price of $22.45. The firm’s market cap is $1.42 billion. Evolent Health, Inc has a 12-month low of $14.50 and a 12-month high of $27.50.

Evolent Health (NYSE:EVH) last announced its quarterly earnings data on Tuesday, May 9th. The technology company reported ($0.26) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.15) by $0.11. Evolent Health had a negative net margin of 17.69% and a negative return on equity of 7.06%. The company had revenue of $106.80 million for the quarter, compared to analysts’ expectations of $104.38 million. During the same period in the prior year, the firm earned ($0.16) earnings per share. The firm’s quarterly revenue was up 116.2% on a year-over-year basis. On average, equities analysts predict that Evolent Health, Inc will post ($0.41) earnings per share for the current year.

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EVH has been the topic of several research analyst reports. Jefferies Group LLC restated a “buy” rating and set a $28.00 target price on shares of Evolent Health in a research note on Thursday, April 13th. Zacks Investment Research upgraded Evolent Health from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, May 3rd. TheStreet upgraded Evolent Health from a “d” rating to a “c-” rating in a research note on Monday, May 22nd. Robert W. Baird initiated coverage on Evolent Health in a research report on Thursday, June 1st. They set an “outperform” rating and a $30.00 price target for the company. Finally, Leerink Swann reaffirmed an “outperform” rating and set a $32.00 price target (up previously from $30.00) on shares of Evolent Health in a research report on Monday, June 19th. One research analyst has rated the stock with a sell rating, one has given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Evolent Health presently has a consensus rating of “Buy” and an average price target of $29.73.

In related news, CFO Nicholas Mcgrane sold 10,495 shares of Evolent Health stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $26.95, for a total transaction of $282,840.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kenneth A. Samet sold 4,000 shares of Evolent Health stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $25.75, for a total transaction of $103,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,592,882 shares of company stock worth $262,382,695 in the last 90 days. Company insiders own 8.79% of the company’s stock.

About Evolent Health

Evolent Health, Inc is engaged in healthcare delivery and payment. The Company supports health systems and physician organizations in their migration toward value-based care and population health management. The Company provides an end-to-end, technology-enabled services platform for providers. The Company’s platform, powered by its technology, processes and integrated services, enables providers to migrate their economic orientation from fee-for-service (FFS) reimbursement to payment models that reward value-based payment models.