Baillie Gifford & Co. Sells 70,108 Shares of Elevance Health, Inc. $ELV

Baillie Gifford & Co. cut its position in shares of Elevance Health, Inc. (NYSE:ELV) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,166,914 shares of the company’s stock after selling 70,108 shares during the period. Baillie Gifford & Co. owned 0.98% of Elevance Health worth $700,173,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the company. Canoe Financial LP boosted its stake in Elevance Health by 18.1% in the third quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock valued at $125,823,000 after buying an additional 59,743 shares in the last quarter. Synergy Asset Management LLC lifted its holdings in shares of Elevance Health by 100.0% in the third quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock worth $33,712,000 after acquiring an additional 52,167 shares during the last quarter. Delta Investment Management LLC acquired a new stake in shares of Elevance Health in the 3rd quarter valued at approximately $7,629,000. OLD National Bancorp IN grew its holdings in shares of Elevance Health by 44.8% during the 2nd quarter. OLD National Bancorp IN now owns 6,267 shares of the company’s stock valued at $2,438,000 after purchasing an additional 1,939 shares during the last quarter. Finally, Verdence Capital Advisors LLC increased its position in Elevance Health by 3.9% during the 2nd quarter. Verdence Capital Advisors LLC now owns 21,213 shares of the company’s stock worth $8,251,000 after purchasing an additional 790 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Trading Down 0.4%

NYSE ELV opened at $370.77 on Friday. The business’s 50-day moving average price is $349.17 and its two-hundred day moving average price is $328.94. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $458.75. The firm has a market capitalization of $82.40 billion, a PE ratio of 15.16, a price-to-earnings-growth ratio of 1.91 and a beta of 0.51. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

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

Analysts Set New Price Targets

A number of brokerages have weighed in on ELV. Guggenheim raised their target price on shares of Elevance Health from $398.00 to $414.00 and gave the company a “buy” rating in a research report on Thursday. Bank of America raised their price objective on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, October 10th. JPMorgan Chase & Co. upped their target price on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a report on Tuesday, October 28th. Wells Fargo & Company lifted their price target on Elevance Health from $403.00 to $424.00 and gave the company an “overweight” rating in a research note on Wednesday, January 7th. Finally, Robert W. Baird boosted their price target on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Twelve equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $399.63.

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.