Elevance Health (NYSE:ELV) Price Target Raised to $585.00

Elevance Health (NYSE:ELV) had its price target raised by research analysts at Mizuho from $575.00 to $585.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Mizuho’s price objective points to a potential upside of 9.77% from the stock’s current price.

A number of other analysts have also recently weighed in on ELV. Jefferies Financial Group increased their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday, April 19th. Barclays increased their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Royal Bank of Canada boosted their price target on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. UBS Group increased their price objective on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Finally, Wells Fargo & Company boosted their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

Elevance Health Stock Up 0.1 %

ELV stock opened at $532.92 on Wednesday. Elevance Health has a one year low of $412.00 and a one year high of $539.11. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market cap of $123.86 billion, a PE ratio of 20.14, a P/E/G ratio of 1.17 and a beta of 0.78. The firm’s fifty day moving average is $510.23 and its 200 day moving average is $485.10.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the company posted $9.46 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts forecast that Elevance Health will post 37.24 EPS for the current year.

Insiders Place Their Bets

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 value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.29% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Elevance Health

Several large investors have recently added to or reduced their stakes in ELV. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Elevance Health during the 4th quarter valued at $28,000. OFI Invest Asset Management acquired a new position in Elevance Health in the third quarter valued at $25,000. Register Financial Advisors LLC acquired a new stake in Elevance Health during the first quarter worth about $32,000. Alaska Permanent Fund Corp purchased a new position in shares of Elevance Health in the 4th quarter worth about $31,000. Finally, Beaird Harris Wealth Management LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at about $32,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

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.