Soleus Capital Management L.P. Cuts Stake in Elevance Health, Inc. (NYSE:ELV)

Soleus Capital Management L.P. cut its stake in Elevance Health, Inc. (NYSE:ELV - Free Report) by 98.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 550 shares of the company's stock after selling 29,100 shares during the period. Soleus Capital Management L.P.'s holdings in Elevance Health were worth $203,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ELV. Accredited Wealth Management LLC purchased a new position in Elevance Health during the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health during the fourth quarter valued at approximately $26,000. WealthTrak Capital Management LLC purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $29,000. Lee Danner & Bass Inc. bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $30,000. Finally, OFI Invest Asset Management bought a new stake in shares of Elevance Health in the 4th quarter worth approximately $29,000. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ELV shares. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Argus set a $465.00 target price on shares of Elevance Health in a research note on Friday, April 25th. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 15th. Robert W. Baird reaffirmed a "neutral" rating and set a $529.00 price target (down from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $510.38.

Insider Activity

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. The trade was a 19.34% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Mark Kaye sold 4,588 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the transaction, the chief financial officer now directly owns 18,977 shares in the company, valued at approximately $8,061,809.14. This trade represents a 19.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,535 shares of company stock valued at $3,521,612. 0.29% of the stock is currently owned by insiders.

Elevance Health Price Performance

ELV traded down $16.17 during trading hours on Thursday, hitting $383.95. The company's stock had a trading volume of 1,964,969 shares, compared to its average volume of 1,519,267. Elevance Health, Inc. has a 12 month low of $357.45 and a 12 month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The business's 50-day moving average price is $421.75 and its 200-day moving average price is $403.61. The stock has a market cap of $86.75 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.18 and a beta of 0.66.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 EPS for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to analysts' expectations of $46.26 billion. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts expect that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 25th. Shareholders of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 annualized dividend and a dividend yield of 1.78%. Elevance Health's dividend payout ratio (DPR) is presently 26.69%.

Elevance Health 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.