Elevance Health, Inc. $ELV Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 4.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,440,630 shares of the company’s stock after purchasing an additional 112,020 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.10% of Elevance Health worth $788,616,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vermillion & White Wealth Management Group LLC raised its holdings in Elevance Health by 94.9% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after acquiring an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. purchased a new stake in shares of Elevance Health in the 2nd quarter valued at approximately $32,000. Motco raised its holdings in shares of Elevance Health by 334.8% in the 3rd quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares in the last quarter. True Wealth Design LLC raised its holdings in shares of Elevance Health by 431.8% in the 3rd quarter. True Wealth Design LLC now owns 117 shares of the company’s stock valued at $38,000 after purchasing an additional 95 shares in the last quarter. Finally, Glass Jacobson Investment Advisors llc lifted its position in shares of Elevance Health by 400.0% during the 2nd quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after purchasing an additional 80 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

ELV stock opened at $374.86 on Friday. The business has a 50 day simple moving average of $344.10 and a 200-day simple moving average of $328.03. The company has a market capitalization of $83.31 billion, a P/E ratio of 15.33, a PEG ratio of 1.93 and a beta of 0.51. Elevance Health, Inc. has a twelve month low of $273.71 and a twelve month high of $458.75. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Tuesday, October 21st. The company reported $6.03 EPS for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the prior year, the firm earned $8.37 EPS. Elevance Health’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, equities analysts anticipate that Elevance Health, Inc. will post 33.96 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on ELV. Barclays increased their target price on Elevance Health from $385.00 to $404.00 and gave the company an “overweight” rating in a report on Monday, January 5th. Cowen reiterated a “buy” rating on shares of Elevance Health in a report on Wednesday, November 26th. Mizuho set a $413.00 target price on Elevance Health in a research report on Friday, January 9th. Bank of America upped their price target on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Finally, Morgan Stanley lowered their target price on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating for the company in a report on Wednesday, December 17th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus price target of $400.85.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.