Elevance Health (NYSE:ELV) Rating Reiterated by Cantor Fitzgerald

Elevance Health (NYSE:ELVGet Free Report)‘s stock had its “overweight” rating reiterated by Cantor Fitzgerald in a report released on Wednesday, Benzinga reports. They presently have a $600.00 target price on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 13.33% from the stock’s current price.

Other equities analysts also recently issued research reports about the stock. Wells Fargo & Company increased their price target on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a report on Friday, April 19th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. UBS Group boosted their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada raised their target price on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Finally, Barclays increased their price target 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. One investment analyst has rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $611.36.

Get Our Latest Analysis on ELV

Elevance Health Stock Performance

Shares of Elevance Health stock traded up $0.21 during trading on Wednesday, reaching $529.45. The company’s stock had a trading volume of 77,378 shares, compared to its average volume of 1,008,852. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The firm has a market cap of $123.05 billion, a PE ratio of 20.01, a P/E/G ratio of 1.16 and a beta of 0.84. Elevance Health has a fifty-two week low of $412.00 and a fifty-two week high of $550.34. The company has a 50-day moving average price of $533.94 and a two-hundred day moving average price of $512.12.

Elevance Health (NYSE:ELVGet Free Report) last released its quarterly earnings results on Thursday, April 18th. The company reported $10.64 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 business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the prior year, the business earned $9.46 earnings per share. The company’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts forecast that Elevance Health will post 37.25 EPS for the current year.

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 31,460 shares in the company, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several large investors have recently bought and sold shares of ELV. Sanders Capital LLC increased its stake in shares of Elevance Health by 4.6% during the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock valued at $2,102,208,000 after acquiring an additional 196,010 shares during the period. Capital International Investors raised its stake in shares of Elevance Health by 3.7% in the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after buying an additional 123,802 shares in the last quarter. Baillie Gifford & Co. lifted its holdings in shares of Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after buying an additional 27,986 shares during the period. Norges Bank bought a new position in Elevance Health during the fourth quarter valued at about $1,347,434,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Elevance Health by 6.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,863,601 shares of the company’s stock worth $878,800,000 after acquiring an additional 110,462 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

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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