Elevance Health, Inc. $ELV Shares Newly Bought by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. acquired a new position in Elevance Health, Inc. (NYSE:ELV) in the 3rd quarter, HoldingsChannel reports. The fund acquired 20,285 shares of the company’s stock, valued at approximately $7,887,000.

Several other institutional investors have also added to or reduced their stakes in the company. Sivik Global Healthcare LLC lifted its stake in shares of Elevance Health by 180.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 14,000 shares of the company’s stock worth $5,443,000 after acquiring an additional 9,000 shares during the last quarter. NorthCrest Asset Manangement LLC boosted its holdings in Elevance Health by 137.6% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,664 shares of the company’s stock valued at $1,068,000 after acquiring an additional 1,543 shares during the period. Avior Wealth Management LLC grew its position in Elevance Health by 4.7% in the 3rd quarter. Avior Wealth Management LLC now owns 1,505 shares of the company’s stock valued at $585,000 after acquiring an additional 67 shares during the last quarter. Perpetual Ltd grew its position in Elevance Health by 71.5% in the 3rd quarter. Perpetual Ltd now owns 2,585 shares of the company’s stock valued at $1,005,000 after acquiring an additional 1,078 shares during the last quarter. Finally, Castleview Partners LLC increased its stake in Elevance Health by 5.7% in the third quarter. Castleview Partners LLC now owns 4,972 shares of the company’s stock worth $1,934,000 after purchasing an additional 269 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.8%

Shares of Elevance Health stock traded up $3.44 on Tuesday, hitting $425.53. 1,842,737 shares of the company traded hands, compared to its average volume of 1,605,088. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The company has a market cap of $92.28 billion, a PE ratio of 18.91, a PEG ratio of 2.14 and a beta of 0.70. The stock’s 50 day moving average price is $401.06 and its 200-day moving average price is $382.75. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24.

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, topping the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%. Elevance Health’s revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $8.84 earnings per share. Equities research analysts predict that Elevance Health, Inc. will post 27.22 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Cantor Fitzgerald lifted their target price on Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Barclays boosted their target price on shares of Elevance Health from $457.00 to $469.00 and gave the company an “overweight” rating in a research note on Wednesday, October 7th. Wells Fargo & Company cut their price target on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. Finally, Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $441.71.

About Elevance Health

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.