Elevance Health (NYSE:ELV) Price Target Increased to $621.00 by Analysts at Barclays

Elevance Health (NYSE:ELV) had its target price hoisted by Barclays from $584.00 to $621.00 in a research report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

ELV has been the topic of a number of other research reports. Wells Fargo & Company dropped their target price on Elevance Health from $561.00 to $557.00 and set an overweight rating on the stock in a report on Monday, April 8th. Royal Bank of Canada boosted their price target on Elevance Health from $572.00 to $574.00 and gave the company an outperform rating in a research note on Thursday, January 25th. Jefferies Financial Group boosted their price target on Elevance Health from $602.00 to $604.00 and gave the company a buy rating in a research note on Friday. Cantor Fitzgerald reissued an overweight rating and issued a $580.00 price target on shares of Elevance Health in a research note on Wednesday, April 10th. Finally, StockNews.com cut Elevance Health from a strong-buy rating to a buy rating in a research note on Thursday, January 25th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $583.77.

Elevance Health Price Performance

Shares of ELV opened at $531.59 on Friday. The company has a market capitalization of $123.70 billion, a price-to-earnings ratio of 21.12, a P/E/G ratio of 1.12 and a beta of 0.78. Elevance Health has a fifty-two week low of $412.00 and a fifty-two week high of $539.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.44 and a quick ratio of 1.44. The business’s 50-day moving average is $509.14 and its 200-day moving average is $483.22.

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

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. Elevance Health’s payout ratio is currently 25.90%.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Elevance Health

Several hedge funds have recently modified their holdings of ELV. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the third quarter valued at approximately $25,000. Pin Oak Investment Advisors Inc. bought a new stake in shares of Elevance Health in the fourth quarter valued at approximately $28,000. Fortis Capital Advisors LLC bought a new stake in shares of Elevance Health in the fourth quarter valued at approximately $29,000. TD Capital Management LLC acquired a new position in shares of Elevance Health in the fourth quarter valued at $30,000. Finally, Quarry LP acquired a new position in shares of Elevance Health in the fourth quarter valued at $30,000. 89.24% of the stock is owned by 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.