Here’s Why Evolent Health (EVH) Declined in Q4

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Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Small Cap Growth Fund” fourth quarter 2022 investor letter. A copy of the same can be downloaded here. Small-cap stocks posted solid returns in the fourth quarter for the first time in 2022. The Russell 2000 Growth Index was up 4.11% trailing the Russell 2000 Value Index, which returned 8.39% in the quarter. For the year 2022, small-cap stocks posted disappointing results. In addition, you can check the top 5 holdings of the fund to know its best picks in 2022.

Carillon Eagle Small Cap Growth Fund highlighted stocks like Evolent Health, Inc. (NYSE:EVH) in the Q4 2022 investor letter. Headquartered in Arlington, Virginia, Evolent Health, Inc. (NYSE:EVH) is a healthcare company that provides clinical and administrative solutions. On February 1, 2023, Evolent Health, Inc. (NYSE:EVH) stock closed at $32.45 per share. One-month return of Evolent Health, Inc. (NYSE:EVH) was 23.15%, and its shares gained 43.71% of their value over the last 52 weeks. Evolent Health, Inc. (NYSE:EVH) has a market capitalization of $3.297 billion.

Carillon Eagle Small Cap Growth Fund made the following comment about Evolent Health, Inc. (NYSE:EVH) in its Q4 2022 investor letter:

"Evolent Health, Inc. (NYSE:EVH) provides a platform of technology-enabled administrative and clinical management services to provider networks and managed care organizations to help them manage the care of patients under value-based care (VBC) arrangements. Unfortunately in the quarter, the company missed revenue estimates due to a retroactive adjustment resulting from the way that the Centers for Medicare and Medicaid Services calculates savings for companies participating in gainsharing pilot programs with them. While this was disappointing, later in the quarter the company announced an accretive acquisition of a specialty benefit management organization that focuses on managing costs and quality in radiology, musculoskeletal medicine, physical medicine, and genetics. The announcement of this acquisition was favorably received by investors, and when combined with recent impressive new client additions, sets the company up for what should be a strong 2023."


Evolent Health, Inc. (NYSE:EVH) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 32 hedge fund portfolios held Evolent Health, Inc. (NYSE:EVH) at the end of the third quarter which was 30 in the previous quarter.

We discussed Evolent Health, Inc. (NYSE:EVH) in another article and shared the list of top small-cap stocks from Ray Dalio’s Q3 2022 portfolio. In addition, please check out our hedge fund investor letters Q4 2022 page for more investor letters from hedge funds and other leading investors.


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Disclosure: None. This article is originally published at Insider Monkey.