Hara Capital LLC Buys Shares of 10,484 Elevance Health, Inc. $ELV

Hara Capital LLC purchased a new position in Elevance Health, Inc. (NYSE:ELV) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,484 shares of the company’s stock, valued at approximately $3,388,000. Elevance Health accounts for 2.0% of Hara Capital LLC’s portfolio, making the stock its 11th biggest position.

Several other hedge funds have also recently made changes to their positions in ELV. Naples Global Advisors LLC grew its position in Elevance Health by 128.6% in the 3rd quarter. Naples Global Advisors LLC now owns 2,014 shares of the company’s stock worth $651,000 after purchasing an additional 1,133 shares during the period. Strs Ohio boosted its stake in shares of Elevance Health by 1.4% in the 3rd quarter. Strs Ohio now owns 80,309 shares of the company’s stock worth $25,949,000 after buying an additional 1,123 shares during the last quarter. Covestor Ltd grew its holdings in shares of Elevance Health by 81.6% in the third quarter. Covestor Ltd now owns 886 shares of the company’s stock worth $286,000 after acquiring an additional 398 shares during the period. Accredited Investors Inc. grew its holdings in shares of Elevance Health by 18.9% in the third quarter. Accredited Investors Inc. now owns 1,133 shares of the company’s stock worth $366,000 after acquiring an additional 180 shares during the period. Finally, Detalus Advisors LLC increased its position in Elevance Health by 1.8% during the third quarter. Detalus Advisors LLC now owns 1,726 shares of the company’s stock valued at $558,000 after acquiring an additional 31 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ELV has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Sanford C. Bernstein reiterated an “outperform” rating and issued a $431.00 price objective on shares of Elevance Health in a research note on Tuesday, January 6th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Zacks Research raised shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Finally, Robert W. Baird increased their price target on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research report on Thursday, December 11th. Twelve analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $399.63.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $372.01 on Friday. The stock has a market cap of $82.68 billion, a PE ratio of 15.21, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51. Elevance Health, Inc. has a 1 year low of $273.71 and a 1 year high of $458.75. The firm has a fifty day moving average price of $348.27 and a 200-day moving average price of $328.77. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.56.

Elevance Health (NYSE:ELV) last issued its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The company had revenue of $50.09 billion during the quarter, compared to the consensus estimate of $49.26 billion. During the same quarter in the prior year, the firm posted $8.37 EPS. Elevance Health’s quarterly revenue was up 12.0% compared to the same quarter last year. Equities analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.