Elevance Health, Inc. $ELV Stock Sold by Iridian Asset Management LLC CT

Key Points

• Iridian Asset Management reduced its Elevance Health stake by 31.6% in the third quarter, selling 4,737 shares and retaining 10,252 shares valued at approximately $4.0 million. Institutional investors collectively own 89.24% of the company.
• Analysts remain broadly positive, with 15 Buy ratings and eight Holds producing a “Moderate Buy” consensus and an average price target of $455.57.
• Elevance exceeded quarterly earnings and revenue expectations, while maintaining a quarterly dividend of $1.72 per share. However, CFO Mark Kaye sold 10,584 shares worth about $4.66 million, and Medicaid margin pressures remain a concern.

Iridian Asset Management LLC CT decreased its holdings in Elevance Health, Inc. (NYSE:ELV - Free Report) by 31.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,252 shares of the company's stock after selling 4,737 shares during the quarter. Elevance Health comprises approximately 1.4% of Iridian Asset Management LLC CT's portfolio, making the stock its 21st biggest position. Iridian Asset Management LLC CT's holdings in Elevance Health were worth $3,986,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Field & Main Bank lifted its position in shares of Elevance Health by 1.3% in the 2nd quarter. Field & Main Bank now owns 1,883 shares of the company's stock worth $728,000 after purchasing an additional 25 shares during the period. Tranquilli Financial Advisor LLC increased its position in shares of Elevance Health by 1.3% during the second quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company's stock valued at $805,000 after buying an additional 26 shares during the period. Mather Group LLC. increased its position in shares of Elevance Health by 3.5% during the third quarter. Mather Group LLC. now owns 766 shares of the company's stock valued at $298,000 after buying an additional 26 shares during the period. 55 North Private Wealth LLC increased its position in shares of Elevance Health by 4.5% during the third quarter. 55 North Private Wealth LLC now owns 598 shares of the company's stock valued at $233,000 after buying an additional 26 shares during the period. Finally, WealthCollab LLC raised its stake in Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company's stock worth $27,000 after buying an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Truist Financial raised their price objective on shares of Elevance Health from $450.00 to $475.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Guggenheim upped their target price on Elevance Health from $460.00 to $485.00 and gave the stock a "buy" rating in a report on Thursday. Royal Bank Of Canada increased their target price on Elevance Health from $424.00 to $455.00 and gave the stock a "sector perform" rating in a research report on Thursday. Leerink Partners raised their target price on Elevance Health from $364.00 to $395.00 and gave the company a "market perform" rating in a research note on Friday, July 17th. Finally, Sanford C. Bernstein set a $488.00 price target on Elevance Health in a research report on Thursday, July 16th. Fifteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $455.57.

Insider Activity at Elevance Health

In other news, CFO Mark Kaye sold 10,584 shares of the firm's stock in a transaction that occurred on Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total value of $4,658,335.92. Following the completion of the sale, the chief financial officer directly owned 19,919 shares of the company's stock, valued at $8,766,949.47. This trade represents a 34.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by insiders.

Elevance Health Trading Down 1.2%

Shares of NYSE ELV opened at $440.05 on Friday. The company has a market cap of $95.08 billion, a PE ratio of 18.77, a P/E/G ratio of 2.30 and a beta of 0.70. Elevance Health, Inc. has a 52-week low of $274.84 and a 52-week high of $450.69. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.52 and a current ratio of 1.47. The firm's 50 day moving average price is $408.32 and its 200-day moving average price is $390.89.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.71 by $2.28. The firm had revenue of $50.44 billion for the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The company's revenue for the quarter was up .7% on a year-over-year basis. During the same period last year, the business posted $6.03 EPS. On average, equities research analysts expect that Elevance Health, Inc. will post 29.11 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be given a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, December 4th. Elevance Health's dividend payout ratio is currently 29.34%.

Elevance Health News Roundup

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Third-quarter adjusted earnings per share rose 15.9% and exceeded consensus, while revenue also topped expectations. Elevance raised its 2026 adjusted EPS outlook to at least $29, citing disciplined cost management and improved medical-cost trends. Elevance Health Q3 Results
• Positive Sentiment: Carelon’s expansion and clinical programs remain growth drivers; its cancer program reportedly reduced avoidable inpatient admissions by 15%. Management also highlighted actions intended to improve Medicaid profitability. ELV Q3 Deep Dive
• Positive Sentiment: TD Cowen raised its price target to $495 from $465 and maintained a Buy rating, indicating continued confidence in the earnings recovery. TD Cowen Rating
• Positive Sentiment: Elevance declared a quarterly dividend of $1.72 per share, supporting its shareholder-return profile. Elevance Health Dividend
• Neutral Sentiment: Elevance appointed Jeff Park as president of Carelon in a services leadership shift. The move may support execution, but its financial impact is not yet clear. Carelon Leadership Shift
• Neutral Sentiment: Morgan Stanley lifted its target to $449 from $404 but retained an Equal Weight rating, suggesting limited upside after the recent advance. Morgan Stanley Rating
• Negative Sentiment: Officer Mark B. Kaye disclosed an intent to sell 10,584 shares valued at approximately $4.66 million. While the sale may be routine, it can weigh on sentiment near a 52-week high. Officer Share Sale
• Negative Sentiment: Analysts continue to flag sustainability risks: nine-month operating gain declined, and Medicaid margins remain under pressure. Robert W. Baird kept a Neutral rating with a $406 target, below the current trading level. Elevance Health Earnings Analysis

Elevance Health 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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