Professional Advisory Services Inc. Boosts Stake in Elevance Health, Inc. (NYSE:ELV)

Professional Advisory Services Inc. grew its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 35.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,269 shares of the company's stock after purchasing an additional 20,200 shares during the quarter. Elevance Health comprises about 3.9% of Professional Advisory Services Inc.'s portfolio, making the stock its 7th biggest position. Professional Advisory Services Inc.'s holdings in Elevance Health were worth $28,505,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Cypress Wealth Services LLC grew its holdings in Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company's stock worth $353,000 after purchasing an additional 23 shares during the period. Atomi Financial Group Inc. grew its stake 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 valued at $320,000 after buying an additional 25 shares during the period. Lifeworks Advisors LLC increased its position in Elevance Health by 2.5% in 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 stake 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 buying an additional 26 shares during the period. Finally, Fullcircle Wealth LLC boosted its holdings in Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company's stock worth $906,000 after acquiring an additional 26 shares in the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of NYSE:ELV traded down $1.00 during mid-day trading on Friday, reaching $384.26. The company had a trading volume of 2,696,400 shares, compared to its average volume of 1,457,754. The company's 50-day moving average price is $388.02 and its 200-day moving average price is $467.11. Elevance Health, Inc. has a one year low of $362.21 and a one year high of $567.26. The firm has a market cap of $89.12 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.08 and a beta of 0.84. 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 data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm's quarterly revenue was up 5.3% on a year-over-year basis. During the same period last year, the business posted $8.99 earnings per share. As a group, equities research analysts anticipate that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ELV shares. Stephens reaffirmed an "underperform" rating on shares of Elevance Health in a research report on Friday, October 18th. Morgan Stanley lowered their price objective on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Royal Bank of Canada reduced their price objective on shares of Elevance Health from $585.00 to $478.00 and set an "outperform" rating for the company in a report on Friday, October 18th. TD Cowen lowered their target price on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a report on Monday, October 21st. Finally, Mizuho decreased their price objective on Elevance Health from $585.00 to $505.00 and set an "outperform" rating for the company in a report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus 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.