May 12, 2023 – Axiom Investors LLC DE, a New York-based investment firm, has recently added Elevance Health, Inc. (NYSE:ELV) to its portfolio. According to the Securities and Exchange Commission (SEC) filing, Axiom Investors has purchased 113,434 shares of Elevance Health which amounts to approximately $58,188,000 in value. This move marks the fund’s 28th position and accounts for about 1.1% of its overall portfolio.
Elevance Health is a company that specializes in providing innovative healthcare solutions to patients around the world. Its product line includes therapeutics and diagnostics that are designed to address various health concerns such as cancer, heart disease, and diabetes. The company’s long-standing commitment to research and development has paved the way for cutting-edge treatments that have revolutionized the healthcare industry.
On April 19th of this year, Elevance Health released its quarterly earnings report which showed an impressive $9.46 EPS. This surpassed the consensus estimate by $0.20 and resulted in a revenue of $41.90 billion – exceeding analyst predictions of $40.93 billion by approximately one billion dollars. The business had a return on equity of 20.05% with a net margin of 3.86%. These figures demonstrate Elevance Health’s strong financial performance which is projected to continue throughout the year.
Numerous equities research analysts have commented on the company’s recent success with glowing reviews and recommendations for investors looking to add ELV to their portfolios. StockNews.com labeled it a “strong-buy” while Cantor Fitzgerald assigned it an “overweight” rating with a price target of $547 per share – indicating great potential for growth in the years ahead.
Overall, Axiom Investors LLC DE’s decision to invest in Elevance Health highlights their confidence in both the company’s current performance as well as future growth potential. As the healthcare industry continues to evolve and new solutions are developed, companies like Elevance Health will remain at the forefront of innovation – leading the way to a healthier future for all.
Elevance Health Garners Attention from Institutional Investors and Analysts
Elevance Health, a top-performing healthcare solutions provider in America, has recently caught the attention of institutional investors and hedge funds. A number of investors have reportedly been adding to or reducing their stakes in ELV stock. One of the investors, Sugarloaf Wealth Management LLC, bought new shares in Elevance Health during the fourth quarter, valued at $26,000. The company’s stock is traded on NYSE as ELV and had been down by $2.40 during midday trading on May 12, 2023, reaching $456.95.
Elevance Health commands a market capitalization of $108.32 billion with a price-to-earnings ratio of 17.87 and a PEG ratio of 1.17 — indicating that it would likely outperform earnings expectations in the future market. Analysts have recently shown enthusiasm towards its growth trajectory as they believe it may continue operating an upward trajectory for some time.
Recently, Swiss investment bank Deutsche Bank Aktiengesellschaft increased its price objective to $575 from $571 while Cantor Fitzgerald initiated coverage rating on Elevance Health with an “overweight” rating and a target price of $547 per share.
The firm also revealed that it would give out quarterly dividends to shareholders. Investors who own record shares before Friday, June 9th will qualify for the payout which will amount to approximately $1.48 per share paid out on Friday 23rd June this year.
Furthermore, executive Vice President Gloria Mccarthy sold more than 15k Elevance Health shares last quarter-worth almost over six million dollars — providing enough cash resources for future investments by the company as they focus on developing new products.
Given these reports and forecasts by analysts on its positive prospects going forward- Elevance remains an attractive buyer on exchanges for investment seekers looking to put their money in healthcare stocks with stringent performance metrics like low debt-to-equity ratios.