Elevance Health, Inc. $ELV Stock Bought by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lifted its position in shares of Elevance Health, Inc. (NYSE:ELV) by 137.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,664 shares of the company’s stock after buying an additional 1,543 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Elevance Health were worth $1,068,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. acquired a new position in shares of Elevance Health in the 2nd quarter valued at $2,086,000. Stoneridge Investment Partners LLC acquired a new stake in shares of Elevance Health during the 2nd quarter worth $970,000. State Street Corp increased its holdings in shares of Elevance Health by 1.3% during the 2nd quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after buying an additional 137,914 shares during the last quarter. State of Wyoming purchased a new position in shares of Elevance Health in the 2nd quarter worth $1,765,000. Finally, Nykredit A S purchased a new position in shares of Elevance Health in the 2nd quarter worth $29,794,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ELV shares. Barclays boosted their price target on Elevance Health from $457.00 to $469.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Robert W. Baird raised their price objective on Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. 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. Wells Fargo & Company decreased their target price on Elevance Health from $492.00 to $473.00 and set an “overweight” rating for the company in a report on Thursday, July 16th. Finally, Truist Financial boosted their target price on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Fifteen investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $441.71.

Elevance Health Trading Up 0.2%

NYSE:ELV opened at $429.13 on Friday. The business’s 50-day moving average is $403.50 and its two-hundred day moving average is $385.61. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The firm has a market capitalization of $93.06 billion, a PE ratio of 19.07, a price-to-earnings-growth ratio of 2.22 and a beta of 0.70.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%. The company had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter in the prior year, the business earned $8.84 earnings per share. The company’s revenue was up .8% compared to the same quarter last year. Research analysts predict that Elevance Health, Inc. will post 27.22 earnings per share for the current fiscal year.

Elevance Health Company Profile

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.