Professional Advisory Services Inc. Has $28.51 Million Stake in Elevance Health, Inc. (NYSE:ELV)

Professional Advisory Services Inc. grew its position in Elevance Health, Inc. (NYSE:ELV) by 35.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 77,269 shares of the company’s stock after purchasing an additional 20,200 shares during the quarter. Elevance Health makes up approximately 3.9% of Professional Advisory Services Inc.’s portfolio, making the stock its 7th largest holding. Professional Advisory Services Inc.’s holdings in Elevance Health were worth $28,505,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Raelipskie Partnership bought a new position in Elevance Health in the 3rd quarter worth approximately $26,000. PSI Advisors LLC bought a new position in Elevance Health during the third quarter worth $27,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter valued at $31,000. Dunhill Financial LLC boosted its holdings in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the period. Finally, Peterson Financial Group Inc. acquired a new stake in Elevance Health in the 3rd quarter worth $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on ELV shares. Morgan Stanley cut their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research report on Wednesday, October 23rd. Truist Financial reduced their price objective on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Raymond James set a $485.00 price objective on Elevance Health in a research report on Friday, October 18th. Royal Bank of Canada reduced their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Finally, Cantor Fitzgerald lowered their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus price target of $536.53.

Elevance Health Stock Performance

NYSE ELV opened at $384.26 on Friday. The firm has a market cap of $89.12 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.08 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a 50 day moving average of $388.79 and a 200-day moving average of $468.15.

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

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.