Elevance Health (NYSE:ELV) PT Raised to $585.00

Elevance Health (NYSE:ELV) had its price objective hoisted by stock analysts at Mizuho from $575.00 to $585.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Mizuho’s price objective would indicate a potential upside of 8.39% from the stock’s previous close.

Several other equities analysts have also recently commented on ELV. Truist Financial restated a “buy” rating and issued a $600.00 target price (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Wells Fargo & Company boosted their target price on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Barclays boosted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group boosted their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $587.42.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $539.70 on Wednesday. Elevance Health has a twelve month low of $412.00 and a twelve month high of $542.07. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a 50-day simple moving average of $511.40 and a two-hundred day simple moving average of $485.81. The stock has a market capitalization of $125.44 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share 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 business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the previous year, the company earned $9.46 EPS. The business’s revenue was up .9% on a year-over-year basis. Analysts forecast that Elevance Health will post 37.25 EPS for the current year.

Insiders Place Their Bets

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

A number of institutional investors have recently modified their holdings of the company. OFI Invest Asset Management acquired a new position in shares of Elevance Health during the 3rd quarter valued at $25,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Elevance Health during the 4th quarter valued at $28,000. Alaska Permanent Fund Corp acquired a new position in shares of Elevance Health during the 4th quarter valued at $31,000. Beaird Harris Wealth Management LLC acquired a new position in shares of Elevance Health during the 4th quarter valued at $32,000. Finally, Register Financial Advisors LLC acquired a new position in shares of Elevance Health during the 1st quarter valued at $32,000. 89.24% of the stock is owned by 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.