Elevance Health, Inc. (NYSE:ELV) Shares Bought by RDA Financial Network

RDA Financial Network raised its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,384 shares of the company’s stock after acquiring an additional 32 shares during the period. RDA Financial Network’s holdings in Elevance Health were worth $2,355,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ELV. Raelipskie Partnership acquired a new position in Elevance Health during the 3rd quarter worth about $26,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health during the third quarter worth about $27,000. Eastern Bank purchased a new position in shares of Elevance Health in the third quarter valued at approximately $31,000. Dunhill Financial LLC increased its stake in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after buying an additional 26 shares during the period. Finally, Peterson Financial Group Inc. acquired a new stake in Elevance Health during the 3rd quarter worth approximately $44,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ELV shares. Cantor Fitzgerald dropped their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Mizuho cut their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. TD Cowen decreased their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Barclays cut their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $384.77 on Friday. Elevance Health, Inc. has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a market capitalization of $89.24 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.08 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The company’s fifty day moving average price is $389.68 and its 200 day moving average price is $468.73.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $8.99 EPS. As a group, sell-side analysts predict that Elevance Health, Inc. will post 32.96 earnings per share for the current fiscal year.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.