Elevance Health (NYSE:ELV) Earns “Buy” Rating from UBS Group

Elevance Health (NYSE:ELV)‘s stock had its “buy” rating reaffirmed by equities researchers at UBS Group in a research report issued to clients and investors on Monday, MarketBeat reports. They presently have a $484.00 price objective on the stock, down from their prior price objective of $555.00. UBS Group’s target price points to a potential upside of 44.02% from the company’s previous close.

Several other research firms have also commented on ELV. Royal Bank Of Canada reissued an “outperform” rating and issued a $478.00 price objective on shares of Elevance Health in a research note on Wednesday, June 4th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Truist Financial set a $500.00 price objective on Elevance Health and gave the company a “buy” rating in a research note on Monday, June 9th. Robert W. Baird restated a “neutral” rating and set a $529.00 price target (down previously from $625.00) on shares of Elevance Health in a report on Tuesday, April 15th. Finally, Barclays reduced their price target on Elevance Health from $480.00 to $434.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 9th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $485.87.

Elevance Health Stock Down 1.2%

Elevance Health stock opened at $336.06 on Monday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The firm has a 50 day moving average price of $377.77 and a 200 day moving average price of $397.09. Elevance Health has a fifty-two week low of $335.17 and a fifty-two week high of $567.26. The company has a market capitalization of $75.93 billion, a PE ratio of 13.11, a price-to-earnings-growth ratio of 0.86 and a beta of 0.60.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The firm had revenue of $48.77 billion for the quarter, compared to the consensus estimate of $46.26 billion. Research analysts expect that Elevance Health will post 33.96 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Mark Kaye sold 4,588 shares of the company’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total value of $1,949,074.16. Following the completion of the transaction, the chief financial officer owned 18,977 shares in the company, valued at approximately $8,061,809.14. This represents a 19.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Institutional investors and hedge funds have recently bought and sold shares of the stock. Milestone Asset Management LLC increased its position in Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock worth $488,000 after buying an additional 24 shares during the period. GLOBALT Investments LLC GA increased its stake in Elevance Health by 0.4% in the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company’s stock valued at $2,743,000 after purchasing an additional 24 shares during the period. Elser Financial Planning Inc raised its holdings in shares of Elevance Health by 3.0% in the first quarter. Elser Financial Planning Inc now owns 882 shares of the company’s stock valued at $384,000 after buying an additional 26 shares during the last quarter. Checchi Capital Advisers LLC grew its stake in shares of Elevance Health by 1.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company’s stock valued at $1,190,000 after purchasing an additional 27 shares during the last quarter. Finally, Hemington Wealth Management increased its stake in Elevance Health by 13.3% in the 1st quarter. Hemington Wealth Management now owns 230 shares of the company’s stock valued at $100,000 after buying an additional 27 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Company Profile

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.