Elevance Health’s (ELV) Overweight Rating Reaffirmed at Stephens

Elevance Health (NYSE:ELVGet Free Report)‘s stock had its “overweight” rating reiterated by investment analysts at Stephens in a report released on Tuesday, Benzinga reports. They presently have a $615.00 price target on the stock. Stephens’ target price suggests a potential upside of 14.69% from the stock’s current price.

A number of other brokerages have also commented on ELV. Barclays lifted their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Bank of America lifted their target price on shares of Elevance Health from $621.00 to $646.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Truist Financial restated a “buy” rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Mizuho lifted their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a report on Wednesday, April 24th. Finally, StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 6th. One research analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $605.93.

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Elevance Health Price Performance

ELV stock opened at $536.25 on Tuesday. The stock has a market cap of $124.64 billion, a price-to-earnings ratio of 20.27, a P/E/G ratio of 1.19 and a beta of 0.83. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50 day simple moving average of $526.91 and a 200 day simple moving average of $503.48. Elevance Health has a 1 year low of $412.00 and a 1 year high of $550.34.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings results 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 net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. During the same period in the prior year, the business earned $9.46 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Research analysts anticipate that Elevance Health will post 37.26 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Elevance Health

Several large investors have recently made changes to their positions in ELV. Richwood Investment Advisors LLC boosted its holdings in Elevance Health by 0.8% in the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock worth $1,201,000 after acquiring an additional 20 shares in the last quarter. Bell Investment Advisors Inc raised its position in shares of Elevance Health by 2.1% during the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after purchasing an additional 20 shares during the period. Capital Advisors Ltd. LLC lifted its holdings in shares of Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after purchasing an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. grew its position in Elevance Health by 1.6% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after purchasing an additional 20 shares during the period. Finally, Alliance Wealth Advisors LLC increased its stake in Elevance Health by 2.9% during the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after purchasing an additional 21 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Elevance Health (NYSE:ELV)

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