Mitchell Capital Management Co. Makes New Investment in Elevance Health, Inc. $ELV

Mitchell Capital Management Co. bought a new position in Elevance Health, Inc. (NYSE:ELV) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 12,916 shares of the company’s stock, valued at approximately $4,528,000.

Other large investors have also bought and sold shares of the company. Murphy Middleton Hinkle & Parker Inc. purchased a new position in Elevance Health in the fourth quarter worth about $5,941,000. Blume Capital Management Inc. raised its holdings in Elevance Health by 236.7% in the third quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock worth $1,986,000 after buying an additional 4,320 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Elevance Health by 31.1% in the third quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock worth $149,182,000 after buying an additional 109,462 shares during the last quarter. Caprock Group LLC purchased a new position in Elevance Health in the third quarter worth about $1,638,000. Finally, Bright Rock Capital Management LLC purchased a new position in Elevance Health in the fourth quarter worth about $7,362,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on ELV. Wall Street Zen cut shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Sunday, February 8th. Bank of America raised shares of Elevance Health from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $405.00 to $435.00 in a report on Wednesday, April 29th. Robert W. Baird boosted their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the company a “neutral” rating in a report on Thursday, April 23rd. Mizuho boosted their price objective on shares of Elevance Health from $385.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, May 20th. Finally, Citigroup raised shares of Elevance Health to a “buy” rating in a report on Wednesday, April 29th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $403.11.

Elevance Health Trading Up 0.4%

NYSE:ELV opened at $394.40 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health, Inc. has a 12 month low of $273.71 and a 12 month high of $408.00. The company has a market cap of $85.65 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 2.22 and a beta of 0.66. The company has a 50 day simple moving average of $343.75 and a two-hundred day simple moving average of $338.90.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. During the same quarter in the previous year, the firm posted $11.97 EPS. The firm’s revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Research analysts forecast that Elevance Health, Inc. will post 26.94 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be given a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health’s payout ratio is 29.26%.

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.