Elevance Health, Inc. (NYSE:ELV) Shares Purchased by Canoe Financial LP

Canoe Financial LP boosted its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 53.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 524,531 shares of the company's stock after acquiring an additional 182,807 shares during the quarter. Elevance Health accounts for about 2.8% of Canoe Financial LP's investment portfolio, making the stock its 9th biggest position. Canoe Financial LP owned about 0.23% of Elevance Health worth $193,499,000 as of its most recent SEC filing.

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

Elevance Health Trading Down 0.3 %

Shares of Elevance Health stock traded down $1.00 during trading on Friday, reaching $384.26. 2,696,400 shares of the company were exchanged, compared to its average volume of 1,457,754. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26. The business has a 50-day moving average price of $388.02 and a 200-day moving average price of $466.63. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $89.12 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.08 and a beta of 0.84.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (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 company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the previous year, the firm posted $8.99 earnings per share. Elevance Health's quarterly revenue was up 5.3% compared to the same quarter last year. Sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ELV. Stephens restated an "underperform" rating on shares of Elevance Health in a research report on Friday, October 18th. UBS Group reduced their target price on Elevance Health from $605.00 to $555.00 and set a "buy" rating on the stock in a report on Friday, October 18th. Truist Financial cut their price objective on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Argus cut Elevance Health from a "buy" rating to a "hold" rating in a report on Friday, October 18th. Finally, StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a report on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $536.53.

About Elevance Health

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.