Hara Capital LLC Makes New $3.39 Million Investment in Elevance Health, Inc. $ELV

Hara Capital LLC acquired a new stake in shares of Elevance Health, Inc. (NYSE:ELV) during the 3rd quarter, HoldingsChannel.com reports. The firm acquired 10,484 shares of the company’s stock, valued at approximately $3,388,000. Elevance Health makes up about 2.0% of Hara Capital LLC’s investment portfolio, making the stock its 11th biggest position.

Several other hedge funds have also recently modified their holdings of ELV. Vermillion & White Wealth Management Group LLC grew its stake in Elevance Health by 94.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after acquiring an additional 37 shares in the last quarter. BOK Financial Private Wealth Inc. bought a new position in shares of Elevance Health during the 2nd quarter valued at about $32,000. Motco grew its position in shares of Elevance Health by 334.8% during the third quarter. Motco now owns 100 shares of the company’s stock valued at $32,000 after purchasing an additional 77 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Elevance Health by 431.8% in the third quarter. True Wealth Design LLC now owns 117 shares of the company’s stock worth $38,000 after purchasing an additional 95 shares during the last quarter. Finally, Glass Jacobson Investment Advisors llc lifted its position in shares of Elevance Health by 400.0% in the second quarter. Glass Jacobson Investment Advisors llc now owns 100 shares of the company’s stock worth $39,000 after buying an additional 80 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ELV. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Robert W. Baird upped their price objective on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a report on Thursday, December 11th. Bank of America raised their target price on shares of Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, October 10th. Morgan Stanley reduced their price target on shares of Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 17th. Finally, Truist Financial set a $400.00 price objective on shares of Elevance Health in a research report on Tuesday, October 14th. Twelve research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $399.63.

Elevance Health Stock Performance

NYSE:ELV opened at $372.01 on Friday. The firm has a market capitalization of $82.68 billion, a PE ratio of 15.21, a PEG ratio of 1.91 and a beta of 0.51. The stock’s fifty day moving average is $348.27 and its 200 day moving average is $328.77. Elevance Health, Inc. has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, October 21st. The company reported $6.03 earnings per share for the quarter, beating analysts’ consensus estimates of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The business had revenue of $50.09 billion for the quarter, compared to analysts’ expectations of $49.26 billion. During the same quarter in the previous year, the business posted $8.37 earnings per share. The business’s revenue was up 12.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Profile

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.