Elevance Health, Inc. (NYSE:ELV) Shares Sold by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC decreased its holdings in shares of Elevance Health, Inc. (NYSE:ELV) by 15.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,766 shares of the company’s stock after selling 1,027 shares during the period. Chemistry Wealth Management LLC’s holdings in Elevance Health were worth $2,127,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raelipskie Partnership acquired a new position in Elevance Health during the 3rd quarter worth approximately $26,000. PSI Advisors LLC acquired a new position in Elevance Health during the 3rd quarter worth approximately $27,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter worth approximately $31,000. Dunhill Financial LLC increased its position in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. acquired a new stake in shares of Elevance Health in the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 0.3 %

Shares of ELV opened at $384.26 on Friday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $89.12 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84. The stock’s fifty day simple moving average is $388.79 and its 200 day simple moving average is $468.15. Elevance Health, Inc. has a twelve month low of $362.21 and a twelve month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period last year, the business earned $8.99 earnings per share. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Elevance Health, Inc. will post 32.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on ELV shares. Royal Bank of Canada lowered their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a report on Friday, October 18th. Stephens restated an “underperform” rating on shares of Elevance Health in a report on Friday, October 18th. Mizuho lowered their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Finally, TD Cowen lowered their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and a consensus target price of $536.53.

About Elevance Health

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.