Baird R W Upgrades Elevance Health (NYSE:ELV) to “Strong-Buy”

Baird R W upgraded shares of Elevance Health (NYSE:ELVFree Report) to a strong-buy rating in a research report released on Thursday morning, Zacks.com reports.

A number of other research analysts have also issued reports on the company. Cantor Fitzgerald reiterated an overweight rating and set a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. StockNews.com upgraded Elevance Health from a buy rating to a strong-buy rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on Elevance Health from $628.00 to $631.00 and gave the company an overweight rating in a report on Thursday. Royal Bank of Canada raised their price objective on Elevance Health from $574.00 to $575.00 and gave the company an outperform rating in a report on Friday, April 19th. Finally, Wells Fargo & Company raised their price objective on Elevance Health from $557.00 to $600.00 and gave the company an overweight rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of Buy and a consensus target price of $598.23.

Check Out Our Latest Research Report on ELV

Elevance Health Stock Performance

Shares of ELV stock opened at $538.48 on Thursday. The company has a market capitalization of $125.15 billion, a P/E ratio of 20.35, a P/E/G ratio of 1.12 and a beta of 0.79. The business’s 50 day moving average is $524.13 and its two-hundred day moving average is $500.24. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health has a 12-month low of $412.00 and a 12-month high of $550.34.

Elevance Health (NYSE:ELVGet Free Report) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the firm posted $9.46 EPS. The business’s revenue was up .9% on a year-over-year basis. Analysts expect that Elevance Health will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s payout ratio is presently 24.64%.

Insider Activity

In related news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Richwood Investment Advisors LLC increased its holdings in shares of Elevance Health by 0.8% in the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after purchasing an additional 20 shares during the period. Bell Investment Advisors Inc boosted its position in 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 in the last quarter. Capital Advisors Ltd. LLC boosted its position in Elevance Health by 8.8% during the first 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. boosted its position in Elevance Health by 1.6% during the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after purchasing an additional 20 shares in the last quarter. Finally, Alliance Wealth Advisors LLC boosted its position in Elevance Health by 2.9% during the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after purchasing an additional 21 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

About Elevance Health

(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.

See Also

Analyst Recommendations for Elevance Health (NYSE:ELV)

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