Elevance Health, Inc. $ELV Stock Sold by Howard Capital Management LLC

Key Points

• Howard Capital Management cut its Elevance Health stake by 77.7% in the third quarter, selling 4,586 shares and retaining 1,315 shares valued at approximately $511,000.
• Wall Street remains generally optimistic, with 15 analysts rating ELV a Buy and eight rating it a Hold. The stock has a “Moderate Buy” consensus and an average price target of $441.71.
• Elevance Health reported quarterly EPS of $7.45, exceeding the $6.21 consensus estimate, while revenue reached $49.83 billion versus expectations of $48.88 billion.

Howard Capital Management LLC decreased its position in shares of Elevance Health, Inc. (NYSE:ELV - Free Report) by 77.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,315 shares of the company's stock after selling 4,586 shares during the quarter. Howard Capital Management LLC's holdings in Elevance Health were worth $511,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Activest Wealth Management lifted its holdings in Elevance Health by 146.2% during the third quarter. Activest Wealth Management now owns 64 shares of the company's stock valued at $25,000 after purchasing an additional 38 shares during the last quarter. WealthCollab LLC boosted its position in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company's stock worth $27,000 after purchasing an additional 27 shares during the period. Kilter Group LLC bought a new position in Elevance Health during the second quarter worth about $28,000. Main Street Group LTD purchased a new position in shares of Elevance Health in the first quarter worth about $39,000. Finally, Elevation Wealth Partners LLC increased its stake in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company's stock worth $41,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ELV shares. Robert W. Baird boosted their price target on shares of Elevance Health from $331.00 to $393.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. TD Cowen raised their price objective on shares of Elevance Health from $400.00 to $465.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Sanford C. Bernstein set a $488.00 price objective on shares of Elevance Health in a report on Thursday, July 16th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $395.00 price objective on shares of Elevance Health in a research note on Thursday, July 16th. Finally, Leerink Partners boosted their target price on shares of Elevance Health from $364.00 to $395.00 and gave the company a "market perform" rating in a report on Friday, July 17th. Fifteen 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 stock has an average rating of "Moderate Buy" and a consensus target price of $441.71.

Elevance Health Trading Down 0.1%

Shares of Elevance Health stock opened at $428.11 on Friday. Elevance Health, Inc. has a 1 year low of $274.84 and a 1 year high of $436.24. The firm has a market cap of $92.84 billion, a PE ratio of 19.03, a PEG ratio of 2.23 and a beta of 0.70. 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 company has a 50 day simple moving average of $404.18 and a two-hundred day simple moving average of $385.91.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 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 analysts' expectations of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business's quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $8.84 EPS. Analysts expect that Elevance Health, Inc. will post 27.22 earnings per share for the current fiscal year.

Elevance Health Company Profile

Elevance Health, Inc NYSE: ELV is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.

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