Boston Common Asset Management LLC Purchases 4,637 Shares of Elevance Health, Inc. (NYSE:ELV)

Boston Common Asset Management LLC grew its position in Elevance Health, Inc. (NYSE:ELV) by 38.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 16,726 shares of the company’s stock after buying an additional 4,637 shares during the quarter. Boston Common Asset Management LLC’s holdings in Elevance Health were worth $6,170,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Raelipskie Partnership acquired a new position in Elevance Health during the 3rd quarter worth approximately $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the third quarter worth $27,000. Eastern Bank bought a new position in Elevance Health in the third quarter valued at $31,000. Dunhill Financial LLC grew its position in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in Elevance Health in the 3rd quarter valued at $44,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Stock Down 0.3 %

Shares of ELV opened at $384.26 on Friday. The firm has a market cap of $89.12 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. Elevance Health, Inc. has a 52 week low of $362.21 and a 52 week high of $567.26. The firm’s 50-day simple moving average is $388.79 and its 200 day simple moving average is $468.15.

Elevance Health (NYSE:ELV) last posted its 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). The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Elevance Health’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same period in the previous year, the company posted $8.99 EPS. On average, analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on ELV shares. TD Cowen decreased their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Royal Bank of Canada decreased their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Barclays dropped their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Morgan Stanley decreased their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Finally, 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 research note on Friday, October 18th. One investment 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 stock. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $536.53.

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.