Elevance Health, Inc. (NYSE:ELV) Shares Acquired by RDA Financial Network

RDA Financial Network boosted its position in Elevance Health, Inc. (NYSE:ELV) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,384 shares of the company’s stock after purchasing an additional 32 shares during the period. RDA Financial Network’s holdings in Elevance Health were worth $2,355,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Meiji Yasuda Asset Management Co Ltd. lifted its stake in Elevance Health by 21.8% in the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,310 shares of the company’s stock valued at $2,335,000 after buying an additional 771 shares in the last quarter. Blair William & Co. IL boosted its holdings in Elevance Health by 21.6% in the second quarter. Blair William & Co. IL now owns 14,756 shares of the company’s stock valued at $7,995,000 after acquiring an additional 2,622 shares during the last quarter. Sienna Gestion grew its position in Elevance Health by 0.6% during the second quarter. Sienna Gestion now owns 12,994 shares of the company’s stock valued at $7,038,000 after acquiring an additional 81 shares during the period. First Eagle Investment Management LLC increased its position in Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after purchasing an additional 275,708 shares in the last quarter. Finally, MQS Management LLC purchased a new position in shares of Elevance Health in the 2nd quarter valued at $217,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Down 1.2 %

Shares of ELV stock opened at $384.77 on Friday. Elevance Health, Inc. has a 1 year low of $362.21 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The business’s fifty day moving average is $389.68 and its 200-day moving average is $468.73. The stock has a market cap of $89.24 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the firm earned $8.99 earnings per share. Elevance Health’s revenue was up 5.3% on a year-over-year basis. Equities analysts expect that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent research reports. Morgan Stanley reduced their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. Truist Financial reduced their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Barclays cut their price target on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Stephens reissued an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Mizuho decreased their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research note on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $536.53.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.