Elevance Health (ELV)

• Market cap: $84.9B
• 1 day: -0.14%
• 5 days: -3.89%
• 1 month: -7.93%
• 3 months: -32.21%
• 6 months: -31.57%
• Year to date: -23.57%
• 1 year: -20.31%
• 5 years: 20.78%
• 10 years: 184.86%
• Sector: Financials
• Industry: Hospital & Medical Service Plans

About: Elevance Health remains one of the leading health insurers in the U.S., providing medical benefits to 47 million medical members as of December 2023. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states through government-sponsored programs such as Medicaid and Medicare Advantage plans, too.

Employees: 104,900

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

12% more repeat investments, than reductions

Existing positions increased: 660 | Existing positions reduced: 591

4% less call options, than puts

Call options by funds: $620M | Put options by funds: $645M

1% less funds holding

Funds holding: 1,676 [Q2] → 1,657 (-19) [Q3]

3.43% less ownership

Funds ownership: 90.69% [Q2] → 87.26% (-3.43%) [Q3]

4% less funds holding in top 10

Funds holding in top 10: 52 [Q2] → 50 (-2) [Q3]

8% less capital invested

Capital invested by funds: $114B [Q2] → $105B (-$9.6B) [Q3]

12% less first-time investments, than exits

New positions opened: 134 | Existing positions closed: 153

Research analyst outlook

9 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $478 31% upside
• Avg. target: $508 39% upside
• High target: $555 52% upside

9 analyst ratings

• positive: 9 100%
• neutral: 0 0%
• negative: 0 0%

Mizuho Ann Hynes 41% 1-year accuracy 9 / 22 met price target	38% upside $505	Outperform Maintained	5 Nov 2024
Wells Fargo Stephen Baxter 20% 1-year accuracy 8 / 40 met price target	35% upside $495	Overweight Maintained	4 Nov 2024
Morgan Stanley Erin Wright 48% 1-year accuracy 11 / 23 met price target	51% upside $551	Overweight Maintained	23 Oct 2024
Barclays Andrew Mok 29% 1-year accuracy 18 / 62 met price target	37% upside $501	Overweight Maintained	22 Oct 2024
TD Cowen Ryan Langston 33% 1-year accuracy 3 / 9 met price target	32% upside $484	Buy Maintained	21 Oct 2024