Rhenman & Partners Asset Management AB Sells 22,150 Shares of Elevance Health, Inc. $ELV

Rhenman & Partners Asset Management AB lowered its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 49.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,500 shares of the company’s stock after selling 22,150 shares during the period. Rhenman & Partners Asset Management AB’s holdings in Elevance Health were worth $7,270,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ELV. Nilsine Partners LLC boosted its stake in Elevance Health by 1.5% in the third quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock valued at $620,000 after acquiring an additional 29 shares during the last quarter. HBK Sorce Advisory LLC raised its position in shares of Elevance Health by 4.4% during the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock valued at $260,000 after acquiring an additional 31 shares during the last quarter. Detalus Advisors LLC lifted its stake in shares of Elevance Health by 1.8% in the 3rd quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock valued at $558,000 after purchasing an additional 31 shares during the period. Forum Financial Management LP boosted its position in shares of Elevance Health by 1.1% in the 3rd quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock worth $960,000 after purchasing an additional 33 shares during the last quarter. Finally, Activest Wealth Management grew its stake in shares of Elevance Health by 66.7% during the third quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Morgan Stanley reduced their target price on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Wolfe Research set a $425.00 price target on shares of Elevance Health and gave the company an “outperform” rating in a research report on Thursday, January 8th. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. UBS Group set a $400.00 target price on shares of Elevance Health in a research note on Thursday, January 29th. Finally, Mizuho set a $413.00 target price on shares of Elevance Health in a report on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $390.55.

Elevance Health Stock Performance

Shares of ELV stock opened at $289.56 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. The company has a market capitalization of $63.91 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.60 and a beta of 0.51. The company’s 50 day moving average price is $344.64 and its two-hundred day moving average price is $335.17. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. During the same quarter in the previous year, the firm posted $3.84 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio (DPR) is currently 27.23%.

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.