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

Elevance Health, Inc. (NYSE:ELV) saw a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 2,200,000 shares, an increase of 23.6% from the August 31st total of 1,780,000 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 965,200 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ELV. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 target price on shares of Elevance Health in a research note on Friday, September 20th. Bank of America reaffirmed a “neutral” rating and issued a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. TD Cowen decreased their price objective on Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research note on Friday, July 19th. Finally, Barclays lowered their target price on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research note on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $604.29.

Insider Transactions at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the transaction, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Gail Boudreaux sold 34,000 shares of the business’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 transaction, the chief executive officer now owns 126,709 shares in the company, valued at approximately $63,478,674.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the firm’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock worth $17,588,116 over the last three months. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its stake in Elevance Health by 114.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 31,311 shares of the company’s stock valued at $14,765,000 after buying an additional 16,737 shares during the last quarter. Brave Warrior Advisors LLC increased its position in Elevance Health by 7.9% during the fourth quarter. Brave Warrior Advisors LLC now owns 1,756,653 shares of the company’s stock valued at $828,367,000 after acquiring an additional 129,055 shares during the last quarter. New Mexico Educational Retirement Board lifted its holdings in Elevance Health by 14.6% in the first quarter. New Mexico Educational Retirement Board now owns 14,146 shares of the company’s stock valued at $6,949,000 after acquiring an additional 1,800 shares during the period. Bank of Nova Scotia boosted its position in Elevance Health by 276.0% in the fourth quarter. Bank of Nova Scotia now owns 82,331 shares of the company’s stock worth $38,823,000 after purchasing an additional 60,436 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Elevance Health by 119.7% during the 1st quarter. Blair William & Co. IL now owns 12,134 shares of the company’s stock valued at $6,292,000 after purchasing an additional 6,610 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.7 %

NYSE:ELV opened at $523.95 on Monday. Elevance Health has a 52 week low of $431.38 and a 52 week high of $567.26. The firm has a market capitalization of $121.78 billion, a P/E ratio of 19.80, a P/E/G ratio of 1.17 and a beta of 0.82. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average of $536.54 and a 200 day moving average of $530.18.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. During the same period last year, the company earned $9.04 EPS. The business’s quarterly revenue was down .4% compared to the same quarter last year. On average, research analysts predict that Elevance Health will post 37.25 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date was Tuesday, September 10th. Elevance Health’s payout ratio is currently 24.64%.

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.