Boston Common Asset Management LLC Raises Position in Elevance Health, Inc. (NYSE:ELV)

Boston Common Asset Management LLC grew its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 38.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,726 shares of the company's stock after buying an additional 4,637 shares during the period. Boston Common Asset Management LLC's holdings in Elevance Health were worth $6,170,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Cypress Wealth Services LLC boosted its holdings in shares of Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company's stock valued at $353,000 after acquiring an additional 23 shares during the period. Atomi Financial Group Inc. raised its position in Elevance Health by 4.2% in the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company's stock valued at $320,000 after purchasing an additional 25 shares during the last quarter. Lifeworks Advisors LLC boosted its stake in Elevance Health by 2.5% during 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 during the period. Catalyst Financial Partners LLC grew its position in Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company's stock worth $477,000 after purchasing an additional 26 shares during the last quarter. Finally, Fullcircle Wealth LLC increased its stake in Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company's stock valued at $906,000 after purchasing an additional 26 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ELV. Argus downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a research note on Friday, October 18th. StockNews.com upgraded Elevance Health from a "hold" rating to a "buy" rating in a research note on Friday. TD Cowen cut their price target on Elevance Health from $589.00 to $484.00 and set a "buy" rating for the company in a research note on Monday, October 21st. Wells Fargo & Company decreased their price target on Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a report on Monday, November 4th. Finally, Barclays cut their price objective on shares of Elevance Health from $622.00 to $501.00 and set an "overweight" rating for the company in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Elevance Health currently has an average rating of "Moderate Buy" and an average target price of $536.53.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $1.00 during midday trading on Friday, hitting $384.26. 2,696,400 shares of the stock were exchanged, compared to its average volume of 1,457,754. The stock has a market cap of $89.12 billion, a P/E ratio of 14.01, a PEG ratio of 1.08 and a beta of 0.84. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a 50 day moving average price of $388.02 and a 200-day moving average price of $467.11. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV - Get Free Report) last released 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 net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the prior year, the company earned $8.99 earnings per share. The firm'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 earnings per share for the current year.

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.