1,900 Shares of Elevance Health, Inc. $ELV Bought by Sanders Morris Harris LLC

Sanders Morris Harris LLC bought a new position in Elevance Health, Inc. (NYSE:ELV) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,900 shares of the company’s stock, valued at approximately $739,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Field & Main Bank grew its holdings in shares of Elevance Health by 1.3% during the second quarter. Field & Main Bank now owns 1,883 shares of the company’s stock valued at $728,000 after purchasing an additional 25 shares during the last quarter. Tranquilli Financial Advisor LLC lifted its holdings in shares of Elevance Health by 1.3% in the 2nd quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company’s stock worth $805,000 after purchasing an additional 26 shares during the last quarter. WealthCollab LLC lifted its holdings in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the last quarter. Signet Financial Management LLC boosted its position in Elevance Health by 3.5% during the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock valued at $245,000 after purchasing an additional 28 shares during the period. Finally, Cornerstone Financial Management LLC boosted its position in Elevance Health by 12.0% during the 2nd quarter. Cornerstone Financial Management LLC now owns 270 shares of the company’s stock valued at $104,000 after purchasing an additional 29 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ELV. Truist Financial upped their price objective on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research note on Tuesday, July 14th. Royal Bank Of Canada cut their target price on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research note on Thursday, July 16th. Barclays boosted their price target on shares of Elevance Health from $457.00 to $469.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. The Goldman Sachs Group reissued a “neutral” rating and set a $395.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Finally, Cantor Fitzgerald upped their price target on shares of Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $441.71.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $427.64 on Thursday. Elevance Health, Inc. has a 12-month low of $274.84 and a 12-month high of $436.24. The company has a market cap of $92.74 billion, a PE ratio of 19.01, a P/E/G ratio of 2.21 and a beta of 0.70. The stock has a 50 day simple moving average of $402.74 and a 200-day simple moving average of $384.60. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%. The firm’s revenue was up .8% compared to the same quarter last year. During the same period last year, the firm earned $8.84 EPS. On average, equities research analysts forecast that Elevance Health, Inc. will post 27.22 EPS for the current year.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a health benefits and services company that provides health insurance, managed care and related healthcare solutions in the United States. Its offerings serve individuals, employers, government-sponsored programs and other organizations across commercial, Medicare and Medicaid markets.

The company operates a portfolio of health plans, including Blue Cross Blue Shield-affiliated plans in several states, as well as government-focused plans marketed under brands such as Wellpoint.