1,543 Elevance Health, Inc. $ELV Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC boosted its position in Elevance Health, Inc. (NYSE:ELV) by 137.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,664 shares of the company’s stock after buying an additional 1,543 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Elevance Health were worth $1,068,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in shares of Elevance Health in the second quarter worth about $7,344,424,000. Bank of New York Mellon Corp purchased a new position in Elevance Health in the second quarter valued at about $1,246,349,000. Legal & General Group Plc purchased a new position in Elevance Health in the second quarter valued at about $688,469,000. Amundi grew its stake in Elevance Health by 145.7% during the 1st quarter. Amundi now owns 2,693,664 shares of the company’s stock valued at $788,570,000 after purchasing an additional 1,597,497 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in Elevance Health during the 2nd quarter valued at approximately $591,084,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Truist Financial lifted their price objective on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Raymond James Financial set a $450.00 target price on Elevance Health in a research note on Tuesday, July 7th. The Goldman Sachs Group reissued a “neutral” rating and set a $395.00 price target on shares of Elevance Health in a research report on Thursday, July 16th. Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a report on Thursday, July 16th. Finally, Royal Bank Of Canada reduced their price objective on shares of 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. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $441.71.

Elevance Health Trading Up 0.2%

Shares of NYSE ELV opened at $429.13 on Friday. The stock’s 50 day moving average price is $403.50 and its two-hundred day moving average price is $385.61. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $436.24. The stock has a market capitalization of $93.06 billion, a P/E ratio of 19.07, a PEG ratio of 2.22 and a beta of 0.70. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68.

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