Analysts Set Elevance Health, Inc. (NYSE:ELV) Price Target at $601.64

Shares of Elevance Health, Inc. (NYSE:ELVGet Free Report) have earned a consensus rating of “Buy” from the sixteen analysts that are covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a hold recommendation, fourteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $607.36.

Several research firms recently weighed in on ELV. Baird R W upgraded Elevance Health to a “strong-buy” rating in a report on Thursday, May 30th. Stephens reiterated an “overweight” rating and set a $615.00 price objective on shares of Elevance Health in a research note on Tuesday. Wells Fargo & Company boosted their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Bank of America upped their target price on Elevance Health from $621.00 to $646.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Finally, Barclays lifted their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th.

View Our Latest Report on ELV

Insider Activity

In related news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction dated 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 transaction, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Several large investors have recently made changes to their positions in ELV. Richwood Investment Advisors LLC raised its stake in shares of Elevance Health by 0.8% in the 4th 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 in the last quarter. Bell Investment Advisors Inc boosted its holdings in shares of Elevance Health by 2.1% in the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after acquiring an additional 20 shares in the last quarter. Capital Advisors Ltd. LLC increased its position in shares of Elevance Health by 8.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after purchasing an additional 20 shares during the period. Bedel Financial Consulting Inc. grew its holdings 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 acquiring an additional 20 shares during the period. Finally, American Trust raised its holdings in shares of Elevance Health by 2.6% in the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Down 1.2 %

Shares of ELV opened at $530.61 on Friday. The firm has a market capitalization of $123.32 billion, a price-to-earnings ratio of 20.05, a PEG ratio of 1.18 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. Elevance Health has a 1-year low of $412.00 and a 1-year high of $550.34. The company has a 50-day moving average of $528.16 and a 200 day moving average of $504.08.

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, beating analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $9.46 earnings per share. On average, research analysts expect that Elevance Health will post 37.26 EPS for the current year.

Elevance Health Dividend Announcement

The firm 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. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

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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