Elevance Health, Inc. (NYSE:ELV) Shares Bought by Professional Advisory Services Inc.

Professional Advisory Services Inc. grew its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 35.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 77,269 shares of the company’s stock after purchasing an additional 20,200 shares during the period. Elevance Health makes up approximately 3.9% of Professional Advisory Services Inc.’s investment portfolio, making the stock its 7th largest holding. Professional Advisory Services Inc.’s holdings in Elevance Health were worth $28,505,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of ELV. Cypress Wealth Services LLC grew its holdings in Elevance Health by 3.5% during the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after acquiring an additional 23 shares during the period. Atomi Financial Group Inc. raised its holdings in shares of Elevance Health by 4.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after purchasing an additional 25 shares in the last quarter. Lifeworks Advisors LLC raised its holdings in shares of Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after purchasing an additional 25 shares in the last quarter. Catalyst Financial Partners LLC lifted its stake in Elevance Health by 2.9% during the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after purchasing an additional 26 shares during the last quarter. Finally, Fullcircle Wealth LLC boosted its holdings in Elevance Health by 1.5% during the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after buying an additional 26 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 0.3 %

NYSE:ELV opened at $384.26 on Friday. The company has a market capitalization of $89.12 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.08 and a beta of 0.84. The stock’s 50 day moving average price is $388.79 and its 200 day moving average price is $468.15. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the company earned $8.99 EPS. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, research analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ELV shares. Mizuho cut their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. TD Cowen decreased their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday, October 21st. StockNews.com upgraded Elevance Health from a “hold” rating to a “buy” rating in a report on Friday. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Finally, Cantor Fitzgerald cut their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $536.53.

Elevance Health 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.