Elevance Health, Inc. $ELV Shares Acquired by Sivik Global Healthcare LLC

Sivik Global Healthcare LLC raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 180.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,000 shares of the company’s stock after buying an additional 9,000 shares during the quarter. Elevance Health comprises 3.4% of Sivik Global Healthcare LLC’s portfolio, making the stock its 10th largest holding. Sivik Global Healthcare LLC’s holdings in Elevance Health were worth $5,443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of ELV. WealthCollab LLC grew its stake in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after acquiring an additional 27 shares in the last quarter. Kilter Group LLC purchased a new stake in Elevance Health in the 2nd quarter worth approximately $28,000. Main Street Group LTD purchased a new stake in Elevance Health in the 1st quarter worth approximately $39,000. Elevation Wealth Partners LLC boosted its holdings in Elevance Health by 600.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the period. Finally, Tacita Capital Inc bought a new position in Elevance Health in the 2nd quarter valued at $44,000. 89.24% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ELV. Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a research report on Thursday, July 16th. Raymond James Financial set a $450.00 price objective on Elevance Health in a research report on Tuesday, July 7th. TD Cowen lifted their price objective on Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th. Guggenheim boosted their target price on Elevance Health from $455.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Cantor Fitzgerald upped their target price on Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $441.71.

Elevance Health Price Performance

NYSE ELV traded up $4.74 on Tuesday, reaching $426.83. 503,075 shares of the company’s stock traded hands, compared to its average volume of 1,598,110. The stock has a market cap of $92.57 billion, a PE ratio of 18.96, a P/E/G ratio of 2.14 and a beta of 0.70. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. Elevance Health, Inc. has a 12 month low of $274.84 and a 12 month high of $436.24. The stock has a 50-day simple moving average of $401.06 and a 200 day simple moving average of $382.75.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same quarter in the prior year, the company earned $8.84 EPS. The firm’s revenue was up .8% on a year-over-year basis. As a group, research analysts predict that Elevance Health, Inc. will post 27.22 earnings per share 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.