Tema Etfs LLC Buys 4,363 Shares of Elevance Health, Inc. $ELV

Tema Etfs LLC grew its stake in Elevance Health, Inc. (NYSE:ELV) by 165.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,994 shares of the company’s stock after purchasing an additional 4,363 shares during the period. Tema Etfs LLC’s holdings in Elevance Health were worth $2,260,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Nilsine Partners LLC lifted its position in shares of Elevance Health by 1.5% in the 3rd quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock worth $620,000 after acquiring an additional 29 shares during the period. Regatta Capital Group LLC lifted its position in Elevance Health by 3.0% in the second quarter. Regatta Capital Group LLC now owns 1,041 shares of the company’s stock worth $405,000 after purchasing an additional 30 shares during the period. HBK Sorce Advisory LLC boosted its stake in Elevance Health by 4.4% during the third quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock worth $260,000 after buying an additional 31 shares in the last quarter. Accurate Wealth Management LLC raised its stake in shares of Elevance Health by 4.9% in the 2nd quarter. Accurate Wealth Management LLC now owns 707 shares of the company’s stock valued at $275,000 after buying an additional 33 shares in the last quarter. Finally, Forum Financial Management LP lifted its holdings in shares of Elevance Health by 1.1% during the 3rd quarter. Forum Financial Management LP now owns 2,971 shares of the company’s stock worth $960,000 after acquiring an additional 33 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Price Performance

Shares of ELV stock opened at $375.08 on Tuesday. The stock’s fifty day moving average is $339.44 and its 200-day moving average is $327.99. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.56 and a current ratio of 1.56. The stock has a market capitalization of $83.36 billion, a PE ratio of 15.33, a PEG ratio of 1.92 and a beta of 0.51. Elevance Health, Inc. has a 52 week low of $273.71 and a 52 week high of $458.75.

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

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were given a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, December 5th. Elevance Health’s dividend payout ratio is presently 27.96%.

Analysts Set New Price Targets

A number of brokerages have commented on ELV. Robert W. Baird raised their price target on shares of Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. Bank of America boosted their price target on Elevance Health from $330.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, October 10th. Truist Financial set a $400.00 price target on Elevance Health in a research report on Tuesday, October 14th. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Finally, TD Cowen upped their target price on shares of Elevance Health from $380.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, November 26th. Thirteen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Elevance Health has a consensus rating of “Hold” and an average target price of $400.85.

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.