Elevance Health, Inc. $ELV Shares Sold by Sector Gamma AS

Sector Gamma AS trimmed its position in Elevance Health, Inc. (NYSE:ELV) by 48.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,603 shares of the company’s stock after selling 9,176 shares during the quarter. Sector Gamma AS’s holdings in Elevance Health were worth $3,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Nilsine Partners LLC lifted its holdings in Elevance Health by 1.5% in the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock valued at $620,000 after acquiring an additional 29 shares during the last quarter. HBK Sorce Advisory LLC increased its position in shares of Elevance Health by 4.4% during the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock worth $260,000 after purchasing an additional 31 shares during the last quarter. Detalus Advisors LLC increased its stake in Elevance Health by 1.8% during the third quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock worth $558,000 after purchasing an additional 31 shares during the period. Forum Financial Management LP increased its stake in Elevance Health by 1.1% during the third quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock worth $960,000 after purchasing an additional 33 shares during the period. Finally, Vermillion & White Wealth Management Group LLC lifted its position in shares of Elevance Health by 94.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock worth $30,000 after purchasing an additional 37 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ELV. Morgan Stanley dropped their price objective on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $320.00 price objective (down previously from $332.00) on shares of Elevance Health in a research report on Friday, December 19th. TD Cowen reiterated a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. JPMorgan Chase & Co. upped their price target on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Finally, Wells Fargo & Company lifted their price objective on Elevance Health from $403.00 to $424.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Twelve investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $399.63.

Elevance Health Stock Down 0.4%

Shares of NYSE ELV opened at $370.77 on Friday. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a market capitalization of $82.40 billion, a price-to-earnings ratio of 15.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56. The business has a 50-day moving average of $349.17 and a two-hundred day moving average of $328.79.

Elevance Health Profile

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.