Elevance Health (NYSE:ELV) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Elevance Health (NYSE:ELV) from a hold rating to a buy rating in a research report released on Friday.

A number of other research firms have also recently issued reports on ELV. Morgan Stanley dropped their price objective on Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a report on Wednesday, October 23rd. Stephens reissued an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. TD Cowen reduced their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. Finally, Mizuho dropped their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average target price of $536.53.

Elevance Health Price Performance

Elevance Health stock opened at $384.26 on Friday. The firm has a market capitalization of $89.12 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84. Elevance Health has a 12-month low of $362.21 and a 12-month high of $567.26. The firm has a 50-day moving average price of $388.79 and a 200-day moving average price of $468.15. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter last year, the firm earned $8.99 EPS. The firm’s quarterly revenue was up 5.3% on a year-over-year basis. As a group, equities research analysts forecast that Elevance Health will post 32.96 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Raelipskie Partnership bought a new stake in Elevance Health during the third quarter valued at about $26,000. PSI Advisors LLC bought a new stake in shares of Elevance Health in the 3rd quarter valued at about $27,000. Eastern Bank purchased a new position in shares of Elevance Health in the 3rd quarter worth approximately $31,000. Dunhill Financial LLC raised its stake in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares in the last quarter. Finally, Peterson Financial Group Inc. purchased a new stake in Elevance Health during the third quarter valued at approximately $44,000. 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.