Eversept Partners LP Sells 14,785 Shares of Elevance Health, Inc. $ELV

Eversept Partners LP trimmed its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 32.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 30,195 shares of the company’s stock after selling 14,785 shares during the quarter. Eversept Partners LP’s holdings in Elevance Health were worth $10,585,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ELV. Rossby Financial LCC lifted its holdings in shares of Elevance Health by 110.0% during the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after acquiring an additional 44 shares during the period. Kemnay Advisory Services Inc. bought a new position in shares of Elevance Health during the 4th quarter worth about $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health during the 4th quarter worth about $32,000. ORG Partners LLC lifted its holdings in shares of Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after acquiring an additional 59 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new position in shares of Elevance Health during the 4th quarter worth about $38,000. 89.24% of the stock is owned by institutional investors.

Elevance Health Trading Down 1.4%

Shares of Elevance Health stock opened at $392.04 on Thursday. The stock has a market capitalization of $85.13 billion, a P/E ratio of 16.68, a price-to-earnings-growth ratio of 2.25 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a 50-day simple moving average of $372.34 and a 200 day simple moving average of $346.21. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $426.98.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same quarter last year, the company posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Research analysts expect that Elevance Health, Inc. will post 26.93 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be given a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date is Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 29.26%.

Wall Street Analysts Forecast Growth

ELV has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and raised their price objective for the stock from $363.00 to $498.00 in a report on Wednesday, May 20th. JPMorgan Chase & Co. increased their target price on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Bank of America increased their target price on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research report on Thursday, June 4th. Sanford C. Bernstein increased their target price on shares of Elevance Health from $384.00 to $424.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Finally, Evercore reiterated a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $416.11.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares in the company, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.34% of the company’s stock.

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.