Elevance Health, Inc. (NYSE:ELV) Short Interest Update

Elevance Health, Inc. (NYSE:ELV) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 2,420,000 shares, a growth of 10.0% from the September 15th total of 2,200,000 shares. Based on an average trading volume of 1,030,000 shares, the short-interest ratio is presently 2.3 days. Approximately 1.1% of the company’s stock are short sold.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at approximately $63,478,674.82. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,058 shares of company stock valued at $17,588,116 over the last ninety days. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several institutional investors have recently bought and sold shares of ELV. Capital Advisors Ltd. LLC lifted its position in Elevance Health by 8.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after buying an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. grew its stake in shares of Elevance Health by 1.6% during the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after purchasing an additional 20 shares during the last quarter. American Trust increased its holdings in shares of Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after purchasing an additional 20 shares in the last quarter. Fiduciary Alliance LLC raised its position in Elevance Health by 3.6% in the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock worth $315,000 after purchasing an additional 21 shares during the last quarter. Finally, Ascent Wealth Partners LLC lifted its holdings in Elevance Health by 1.8% during the 1st quarter. Ascent Wealth Partners LLC now owns 1,193 shares of the company’s stock worth $619,000 after buying an additional 21 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Price Performance

Elevance Health stock traded down $50.88 during mid-day trading on Thursday, hitting $446.09. 8,285,258 shares of the company were exchanged, compared to its average volume of 1,067,396. The company has a market capitalization of $103.68 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The business has a fifty day moving average of $530.38 and a 200 day moving average of $528.62. Elevance Health has a 1-year low of $397.98 and a 1-year high of $567.26. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.74 by ($1.37). The firm had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. 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. As a group, sell-side analysts expect that Elevance Health will post 37.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on ELV. TD Cowen decreased their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Stephens restated an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a research note on Thursday, September 5th. Royal Bank of Canada boosted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Barclays raised their price target on shares of Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Finally, Bank of America reaffirmed a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health has an average rating of “Buy” and a consensus target price of $605.07.

Elevance Health Company 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.