Wheelhouse Advisory Group LLC Acquires New Holdings in Elevance Health, Inc. $ELV

Wheelhouse Advisory Group LLC bought a new position in shares of Elevance Health, Inc. (NYSE:ELV) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 1,364 shares of the company’s stock, valued at approximately $441,000.

Other large investors have also recently bought and sold shares of the company. Canoe Financial LP increased its holdings in shares of Elevance Health by 18.1% in the 3rd quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock worth $125,823,000 after buying an additional 59,743 shares during the last quarter. Synergy Asset Management LLC increased its position in shares of Elevance Health by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock valued at $33,712,000 after purchasing an additional 52,167 shares during the last quarter. Verdence Capital Advisors LLC lifted its position in Elevance Health by 3.9% in the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after buying an additional 790 shares during the last quarter. OLD National Bancorp IN boosted its stake in Elevance Health by 44.8% in the second quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock worth $2,438,000 after buying an additional 1,939 shares in the last quarter. Finally, Lombard Odier Asset Management Switzerland SA lifted its holdings in shares of Elevance Health by 14.3% in the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,162 shares of the company’s stock worth $5,508,000 after acquiring an additional 1,768 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Stock Up 2.5%

Shares of Elevance Health stock opened at $382.25 on Friday. The company’s fifty day simple moving average is $342.95 and its two-hundred day simple moving average is $328.60. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a market cap of $84.95 billion, a P/E ratio of 15.63, a PEG ratio of 1.92 and a beta of 0.51.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. During the same quarter in the previous year, the company earned $8.37 earnings per share. Elevance Health’s quarterly revenue was up 12.0% on a year-over-year basis. Research analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Morgan Stanley reduced their target price on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Bank of America boosted their target price on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $431.00 price objective on shares of Elevance Health in a research report on Tuesday, January 6th. Wells Fargo & Company raised their target price on shares of Elevance Health from $403.00 to $424.00 and gave the stock an “overweight” rating in a report on Wednesday, January 7th. Finally, TD Cowen upped their price target on shares of Elevance Health from $380.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, November 26th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $400.85.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.