Elevance Health (NYSE:ELV) Price Target Raised to $512.00

Elevance Health (NYSE:ELV) had its price target lifted by investment analysts at Barclays from $501.00 to $512.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 28.93% from the company’s current price.

A number of other brokerages have also issued reports on ELV. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $520.00 to $440.00 in a research note on Wednesday. Truist Financial dropped their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. TD Cowen reduced their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Morgan Stanley lowered their price target on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Finally, Cantor Fitzgerald decreased their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $525.60.

Elevance Health Trading Down 1.1 %

NYSE:ELV opened at $397.11 on Friday. The firm has a 50-day simple moving average of $386.32 and a 200-day simple moving average of $463.64. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The firm has a market cap of $92.10 billion, a P/E ratio of 14.46, a P/E/G ratio of 1.11 and a beta of 0.84. Elevance Health has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Equities analysts anticipate that Elevance Health will post 32.95 EPS for the current fiscal year.

Institutional Investors Weigh In On Elevance Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELV. Independence Bank of Kentucky boosted its stake in Elevance Health by 4.3% during the fourth quarter. Independence Bank of Kentucky now owns 1,359 shares of the company’s stock worth $501,000 after buying an additional 56 shares during the last quarter. Alpha Omega Wealth Management LLC boosted its position in shares of Elevance Health by 21.2% during the 4th quarter. Alpha Omega Wealth Management LLC now owns 961 shares of the company’s stock valued at $355,000 after acquiring an additional 168 shares during the last quarter. Evermay Wealth Management LLC grew its holdings in shares of Elevance Health by 5.6% in the fourth quarter. Evermay Wealth Management LLC now owns 1,667 shares of the company’s stock valued at $615,000 after purchasing an additional 89 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in Elevance Health during the fourth quarter worth about $1,146,000. Finally, Austin Private Wealth LLC boosted its holdings in Elevance Health by 1.5% in the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after purchasing an additional 29 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

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.