Elevance Health, Inc. $ELV Stake Decreased by Formuepleje A S

Formuepleje A S cut its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 10.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,293 shares of the company’s stock after selling 2,493 shares during the period. Elevance Health accounts for approximately 0.7% of Formuepleje A S’s portfolio, making the stock its 26th largest holding. Formuepleje A S’s holdings in Elevance Health were worth $8,279,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Kilter Group LLC purchased a new position in Elevance Health during the second quarter valued at approximately $28,000. WealthCollab LLC increased its holdings in Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the period. Elevation Wealth Partners LLC lifted its stake in Elevance Health by 600.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares in the last quarter. Tacita Capital Inc purchased a new stake in Elevance Health in the 2nd quarter worth approximately $44,000. Finally, Danske Bank A S purchased a new stake in Elevance Health in the 2nd quarter worth approximately $44,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on ELV shares. Raymond James Financial set a $450.00 price target on shares of Elevance Health in a research report on Tuesday, July 7th. Guggenheim upped their price target on shares of Elevance Health from $455.00 to $460.00 and gave the stock a “buy” rating in a report on Monday. Robert W. Baird increased their price objective on Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Leerink Partners increased their price objective on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research report on Friday, July 17th. Finally, TD Cowen lifted their price objective on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $441.71.

Elevance Health Price Performance

Shares of ELV stock traded up $0.91 during trading on Thursday, hitting $429.00. The company had a trading volume of 515,296 shares, compared to its average volume of 1,601,944. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock’s 50-day moving average is $402.74 and its two-hundred day moving average is $384.60. The stock has a market capitalization of $93.04 billion, a price-to-earnings ratio of 19.13, a price-to-earnings-growth ratio of 2.21 and a beta of 0.70. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. During the same period last year, the firm posted $8.84 earnings per share. Elevance Health’s quarterly revenue was up .8% on a year-over-year basis. As a group, analysts predict that Elevance Health, Inc. will post 27.22 EPS for the current fiscal year.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a health benefits and services company that provides health insurance, managed care and related healthcare solutions in the United States. Its offerings serve individuals, employers, government-sponsored programs and other organizations across commercial, Medicare and Medicaid markets.

The company operates a portfolio of health plans, including Blue Cross Blue Shield-affiliated plans in several states, as well as government-focused plans marketed under brands such as Wellpoint.