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

Elevance Health, Inc. (NYSE:ELV) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 3,450,000 shares, a growth of 22.3% from the November 30th total of 2,820,000 shares. Approximately 1.5% of the shares of the stock are sold short. Based on an average trading volume of 1,930,000 shares, the short-interest ratio is presently 1.8 days.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ELV shares. StockNews.com lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. TD Cowen cut their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Barclays decreased their target price on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Royal Bank of Canada dropped their price target on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Finally, Cantor Fitzgerald decreased their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Stock Up 0.0 %

NYSE:ELV traded up $0.10 during mid-day trading on Tuesday, reaching $368.90. The stock had a trading volume of 1,205,806 shares, compared to its average volume of 1,248,046. The stock has a market cap of $85.56 billion, a P/E ratio of 13.45, a PEG ratio of 1.15 and a beta of 0.83. The business’s 50 day moving average is $398.51 and its 200 day moving average is $481.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health has a fifty-two week low of $362.21 and a fifty-two week high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate 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 return on equity of 19.56% and a net margin of 3.68%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $8.99 EPS. As a group, sell-side analysts predict that Elevance Health will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, December 5th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.77%. Elevance Health’s dividend payout ratio (DPR) is currently 23.77%.

Insider Activity

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

Large investors have recently made changes to their positions in the stock. Raelipskie Partnership bought a new position in shares of Elevance Health in the 3rd quarter valued at approximately $26,000. PSI Advisors LLC acquired a new position in Elevance Health during the third quarter valued at approximately $27,000. Strategic Financial Concepts LLC bought a new position in shares of Elevance Health in the second quarter valued at approximately $30,000. Eastern Bank acquired a new stake in shares of Elevance Health in the third quarter worth $31,000. Finally, Dunhill Financial LLC boosted its holdings in shares of 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 buying an additional 26 shares during the period. Institutional investors own 89.24% of the company’s stock.

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.