Mizuho Lowers Elevance Health (NYSE:ELV) Price Target to $505.00

Elevance Health (NYSE:ELV) had its price objective dropped by stock analysts at Mizuho from $585.00 to $505.00 in a research report issued on Tuesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 17.73% from the company’s current price.

A number of other analysts also recently issued reports on ELV. Argus downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Barclays cut their target price on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial reaffirmed a “buy” rating and set a $520.00 price target (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. TD Cowen cut their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Finally, Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $539.20.

Elevance Health Stock Performance

Shares of ELV stock opened at $428.93 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market capitalization of $99.48 billion, a price-to-earnings ratio of 15.64, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85. Elevance Health has a one year low of $397.98 and a one year high of $567.26. The company has a 50 day moving average price of $494.37 and a 200 day moving average price of $519.32.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the previous year, the company earned $8.99 earnings per share. The company’s quarterly revenue was up 5.3% on a year-over-year basis. Sell-side analysts anticipate that Elevance Health will post 32.93 EPS for the current year.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Elevance Health

A number of institutional investors and hedge funds have recently modified their holdings of ELV. Bank & Trust Co acquired a new stake in Elevance Health during the second quarter worth about $27,000. Opal Wealth Advisors LLC acquired a new stake in shares of Elevance Health during the 2nd quarter worth approximately $28,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter worth approximately $27,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter valued at approximately $31,000. Finally, Crewe Advisors LLC bought a new position in Elevance Health during the 1st quarter worth $40,000. 89.24% of the stock is owned by institutional investors and hedge funds.

About Elevance Health

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.