Fermata Advisors LLC Purchases Shares of 778 Elevance Health, Inc. (NYSE:ELV)

Fermata Advisors LLC bought a new stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 778 shares of the company's stock, valued at approximately $287,000.

Other institutional investors have also recently made changes to their positions in the company. Raelipskie Partnership purchased a new position in shares of Elevance Health in the third quarter valued at $26,000. PSI Advisors LLC purchased a new stake in shares of Elevance Health during the third quarter worth about $27,000. Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter valued at approximately $31,000. Dunhill Financial LLC lifted its stake in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company's stock valued at $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. acquired a new position in shares of Elevance Health in the 3rd quarter valued at $44,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Down 0.3 %

Shares of ELV traded down $1.00 during mid-day trading on Friday, hitting $384.26. 2,696,400 shares of the company's stock were exchanged, compared to its average volume of 1,457,754. The company has a market cap 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, Inc. has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. 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's 50-day moving average is $388.79 and its 200-day moving average is $468.15.

Elevance Health (NYSE:ELV - Get Free Report) last released its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts' consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to analysts' expectations of $43.47 billion. During the same quarter in the previous year, the company posted $8.99 earnings per share. The firm's quarterly revenue was up 5.3% on a year-over-year basis. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ELV shares. Cantor Fitzgerald cut their price target on shares of Elevance Health from $600.00 to $485.00 and set an "overweight" rating for the company in a report on Friday, October 18th. UBS Group dropped their target price on shares of Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a report on Friday, October 18th. Argus cut shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, October 18th. Truist Financial lowered their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a research report on Monday, January 6th. Finally, TD Cowen lowered their price target on shares of Elevance Health from $589.00 to $484.00 and set a "buy" rating on the stock in a research report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Elevance Health 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.