Elevance Health, Inc. $ELV Stock Sold by Curated Wealth Partners LLC

Key Points

• Curated Wealth Partners cut its Elevance Health stake by 99.1% in the third quarter, selling 180,389 shares and retaining 1,684 shares valued at approximately $655,000.
• Analysts remain broadly positive on Elevance Health, with 15 Buy ratings and eight Holds producing a “Moderate Buy” consensus and an average price target of $441.71.
• Elevance reported quarterly earnings of $7.45 per share, exceeding estimates of $6.21, while revenue reached $49.83 billion; shares recently traded at $429.13, near their 52-week high.

Curated Wealth Partners LLC lowered its stake in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 99.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,684 shares of the company's stock after selling 180,389 shares during the quarter. Curated Wealth Partners LLC's holdings in Elevance Health were worth $655,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ELV. WealthCollab LLC boosted its position in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after acquiring an additional 27 shares in the last quarter. Kilter Group LLC bought a new position in shares of Elevance Health during the 2nd quarter worth approximately $28,000. Main Street Group LTD bought a new stake in Elevance Health in the first quarter valued at $39,000. Elevation Wealth Partners LLC lifted its holdings in shares of Elevance Health by 600.0% during the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company's stock valued at $41,000 after acquiring an additional 90 shares during the period. Finally, Tacita Capital Inc bought a new stake in shares of Elevance Health in the 2nd quarter worth about $44,000. Institutional investors and hedge funds own 89.24% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ELV. Guggenheim increased their price target on Elevance Health from $455.00 to $460.00 and gave the stock a "buy" rating in a research report on Monday. Cantor Fitzgerald raised their price target on shares of Elevance Health from $400.00 to $450.00 and gave the company an "overweight" rating in a report on Tuesday, July 7th. Truist Financial lifted their target price on Elevance Health from $450.00 to $475.00 and gave the company a "buy" rating in a research note on Tuesday, July 14th. Wells Fargo & Company lowered their price objective on Elevance Health from $492.00 to $473.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $395.00 price target on shares of Elevance Health in a research report on Thursday, July 16th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $441.71.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $429.13 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.52. The stock has a 50 day moving average price of $403.50 and a 200 day moving average price of $385.61. The stock has a market capitalization of $93.06 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 2.22 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 results 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 firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company's quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.84 earnings per share. Analysts predict that Elevance Health, Inc. will post 27.22 earnings per share for the current fiscal year.

Elevance Health Profile

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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