UBS Group Raises Elevance Health (NYSE:ELV) Price Target to $605.00

Elevance Health (NYSE:ELV) had its price target hoisted by stock analysts at UBS Group from $585.00 to $605.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 13.48% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. Barclays boosted their price target on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company lifted their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Jefferies Financial Group lifted their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $583.69.

Elevance Health Trading Up 1.5 %

Shares of NYSE ELV traded up $7.96 during midday trading on Friday, reaching $533.15. The stock had a trading volume of 386,981 shares, compared to its average volume of 1,044,149. The firm has a market cap of $124.06 billion, a price-to-earnings ratio of 21.13, a price-to-earnings-growth ratio of 1.12 and a beta of 0.78. Elevance Health has a twelve month low of $412.00 and a twelve month high of $539.11. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The company’s 50 day moving average price is $508.63 and its 200 day moving average price is $482.59.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $9.46 EPS. As a group, sell-side analysts expect that Elevance Health will post 37.03 EPS for the current year.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.35% of the stock is owned by insiders.

Institutional Investors Weigh In On Elevance Health

Institutional investors and hedge funds have recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Elevance Health in the third quarter worth about $25,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Elevance Health in the fourth quarter worth approximately $28,000. Fortis Capital Advisors LLC bought a new position in shares of Elevance Health in the fourth quarter worth approximately $29,000. TD Capital Management LLC bought a new position in shares of Elevance Health in the fourth quarter worth approximately $30,000. Finally, Quarry LP bought a new position in shares of Elevance Health in the fourth quarter worth approximately $30,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Company Profile

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.