17,869 Shares in Elevance Health, Inc. (NYSE:ELV) Bought by Avanza Fonder AB

Avanza Fonder AB purchased a new position in Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 17,869 shares of the company's stock, valued at approximately $6,592,000.

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

Elevance Health Stock Down 0.3 %

NYSE:ELV traded down $1.00 during midday trading on Friday, reaching $384.26. 2,696,400 shares of the stock traded hands, compared to its average volume of 1,457,754. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The business has a 50-day moving average of $388.02 and a two-hundred day moving average of $467.11. 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 stock has a market capitalization of $89.12 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly 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). The company had revenue of $44.72 billion during the quarter, compared to analysts' expectations of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company's quarterly revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the business posted $8.99 EPS. On average, equities analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ELV. Raymond James set a $485.00 price target on shares of Elevance Health in a report on Friday, October 18th. Stephens reiterated an "underperform" rating on shares of Elevance Health in a report on Friday, October 18th. Argus downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, October 18th. Mizuho cut their price target on shares of Elevance Health from $585.00 to $505.00 and set an "outperform" rating on the stock in a report on Tuesday, November 5th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price 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.