Premier Path Wealth Partners LLC Has $269,000 Position in Elevance Health, Inc. (NYSE:ELV)

Premier Path Wealth Partners LLC lessened its stake in shares of Elevance Health, Inc. (NYSE:ELV) by 47.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 730 shares of the company’s stock after selling 662 shares during the quarter. Premier Path Wealth Partners LLC’s holdings in Elevance Health were worth $269,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ELV. Raelipskie Partnership acquired a new position in Elevance Health in the 3rd quarter valued at $26,000. PSI Advisors LLC acquired a new position in shares of Elevance Health in the third quarter valued at about $27,000. Eastern Bank acquired a new stake in Elevance Health in the 3rd quarter worth about $31,000. Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. bought a new position in shares of Elevance Health during the third quarter worth approximately $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently issued reports on ELV. TD Cowen cut their price target 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. Raymond James set a $485.00 price target on shares of Elevance Health in a research report on Friday, October 18th. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Cantor Fitzgerald decreased their price target on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Morgan Stanley reduced their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Trading Down 0.3 %

Shares of Elevance Health stock opened at $384.26 on Monday. The company has a market capitalization of $89.12 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84. The stock has a fifty day simple moving average of $388.02 and a 200 day simple moving average of $466.63. Elevance Health, Inc. has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the previous year, the company earned $8.99 EPS. The business’s revenue was up 5.3% compared to the same quarter last year. On average, sell-side analysts anticipate 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.