Elevance Health, Inc. $ELV Shares Sold by Locust Wood Capital Advisers LLC

Locust Wood Capital Advisers LLC lowered its position in shares of Elevance Health, Inc. (NYSE:ELV) by 64.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,171 shares of the company’s stock after selling 260,954 shares during the period. Elevance Health makes up approximately 1.2% of Locust Wood Capital Advisers LLC’s portfolio, making the stock its 29th largest position. Locust Wood Capital Advisers LLC’s holdings in Elevance Health were worth $46,262,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Elevance Health during the 2nd quarter worth approximately $1,148,379,000. Sanders Capital LLC boosted its position in shares of Elevance Health by 24.7% during the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after buying an additional 1,152,440 shares during the period. Beutel Goodman & Co Ltd. acquired a new stake in shares of Elevance Health in the second quarter valued at $293,141,000. Vanguard Group Inc. raised its holdings in shares of Elevance Health by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company’s stock valued at $8,890,419,000 after buying an additional 704,790 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Elevance Health by 30.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,076,668 shares of the company’s stock worth $807,741,000 after acquiring an additional 487,579 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ELV shares. Robert W. Baird upped their target price on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Mizuho set a $413.00 price objective on Elevance Health in a research note on Friday, January 9th. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Saturday, December 13th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Twelve equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $399.63.

Elevance Health Stock Performance

Shares of ELV opened at $369.28 on Thursday. The company has a market capitalization of $82.07 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 1.89 and a beta of 0.51. Elevance Health, Inc. has a 52-week low of $273.71 and a 52-week high of $458.75. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The stock has a 50 day moving average price of $347.39 and a 200 day moving average price of $328.47.

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

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.