9,000 Elevance Health, Inc. $ELV Shares Acquired by Sivik Global Healthcare LLC

Key Points

• Sivik Global Healthcare LLC increased its Elevance Health position by 180% in the third quarter, acquiring 9,000 additional shares for a total of 14,000 shares valued at approximately $5.44 million.
• Several other institutional investors also raised their holdings, with institutional ownership reaching 89.24% of Elevance Health’s outstanding shares.
• Elevance reported quarterly EPS of $7.45, exceeding estimates of $6.21, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $441.71.

Sivik Global Healthcare LLC raised its position in Elevance Health, Inc. (NYSE:ELV - Free Report) by 180.0% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 14,000 shares of the company's stock after acquiring an additional 9,000 shares during the period. Elevance Health makes up about 3.4% of Sivik Global Healthcare LLC's holdings, making the stock its 10th largest position. Sivik Global Healthcare LLC's holdings in Elevance Health were worth $5,443,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. NorthCrest Asset Manangement LLC lifted its holdings in shares of Elevance Health by 137.6% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 2,664 shares of the company's stock worth $1,068,000 after purchasing an additional 1,543 shares in the last quarter. 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 purchasing an additional 67 shares during the period. Perpetual Ltd increased its stake in Elevance Health by 71.5% during the 3rd quarter. Perpetual Ltd now owns 2,585 shares of the company's stock valued at $1,005,000 after purchasing an additional 1,078 shares in the last quarter. Castleview Partners LLC increased its stake in Elevance Health by 5.7% during the 3rd quarter. Castleview Partners LLC now owns 4,972 shares of the company's stock valued at $1,934,000 after purchasing an additional 269 shares in the last quarter. Finally, Bullock Wealth Management Group raised its holdings in Elevance Health by 43.6% during the third quarter. Bullock Wealth Management Group now owns 158 shares of the company's stock worth $60,000 after buying an additional 48 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

Shares of NYSE ELV traded up $4.74 during mid-day trading on Tuesday, reaching $426.83. 503,075 shares of the company's stock were exchanged, compared to its average volume of 1,598,110. The firm has a 50-day moving average price of $401.06 and a two-hundred day moving average price of $382.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The firm has a market capitalization of $92.57 billion, a price-to-earnings ratio of 18.96, a price-to-earnings-growth ratio of 2.14 and a beta of 0.70. Elevance Health, Inc. has a 52 week low of $274.84 and a 52 week high of $436.24.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the company posted $8.84 earnings per share. Analysts predict that Elevance Health, Inc. will post 27.22 EPS for the current year.

Wall Street Analyst Weigh In

ELV has been the subject of a number of analyst reports. Royal Bank Of Canada reduced their price objective on shares of Elevance Health from $439.00 to $424.00 and set a "sector perform" rating for the company in a report on Thursday, July 16th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $395.00 price target on shares of Elevance Health in a research report on Thursday, July 16th. Barclays boosted their price objective on Elevance Health from $457.00 to $469.00 and gave the stock an "overweight" rating in a report on Wednesday, October 7th. Guggenheim raised their target price on Elevance Health from $455.00 to $460.00 and gave the company a "buy" rating in a report on Monday. Finally, Robert W. Baird upped their target price on shares of Elevance Health from $331.00 to $393.00 and gave the stock a "neutral" rating in a research note on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.

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