DB Fitzpatrick & Co Inc Purchases 581 Shares of Elevance Health, Inc. (NYSE:ELV)

DB Fitzpatrick & Co Inc grew its position in shares of Elevance Health, Inc. (NYSE:ELV) by 14.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,616 shares of the company’s stock after purchasing an additional 581 shares during the quarter. Elevance Health makes up 1.6% of DB Fitzpatrick & Co Inc’s holdings, making the stock its 14th biggest holding. DB Fitzpatrick & Co Inc’s holdings in Elevance Health were worth $1,703,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ELV. State Street Corp boosted its position in Elevance Health by 1.2% during the 3rd quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after buying an additional 129,709 shares during the period. Geode Capital Management LLC raised its stake in shares of Elevance Health by 1.8% during the third quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock valued at $2,511,814,000 after acquiring an additional 85,770 shares during the last quarter. Sanders Capital LLC lifted its holdings in shares of Elevance Health by 1.0% during the third quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock worth $2,396,814,000 after purchasing an additional 44,805 shares during the period. Wellington Management Group LLP grew its stake in shares of Elevance Health by 6.9% in the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after purchasing an additional 286,905 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in Elevance Health by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after purchasing an additional 190,118 shares during the period. 89.24% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ELV has been the topic of several recent research reports. TD Cowen cut their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company reduced their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Cantor Fitzgerald lowered 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. Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Finally, Morgan Stanley decreased their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Stock Down 0.3 %

Shares of NYSE:ELV opened at $384.26 on Friday. 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 business’s 50 day simple moving average is $388.79 and its two-hundred day simple moving average is $468.15. The firm has a market cap of $89.12 billion, a P/E ratio of 14.01, a PEG ratio of 1.08 and a beta of 0.84.

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

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.