Elevance Health (NYSE:ELV) PT Raised to $622.00

Elevance Health (NYSE:ELV) had its target price raised by Barclays from $611.00 to $622.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 23.93% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Truist Financial lifted their price target on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Royal Bank of Canada lifted their price target on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Wells Fargo & Company lowered their price objective on Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research note on Monday, July 22nd. Morgan Stanley started coverage on Elevance Health in a research note on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective on the stock. Finally, Bank of America reissued a “neutral” rating and set a $530.00 price objective (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $605.07.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $501.88 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The business’s 50 day moving average price is $531.94 and its 200-day moving average price is $529.01. The firm has a market capitalization of $116.38 billion, a PE ratio of 17.60, a P/E/G ratio of 1.08 and a beta of 0.82. Elevance Health has a 1 year low of $435.99 and a 1 year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion for the quarter, compared to analyst estimates of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the previous year, the company posted $9.04 earnings per share. As a group, equities research analysts expect that Elevance Health will post 37.26 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the transaction, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the sale, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the sale, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,058 shares of company stock valued at $17,588,116 in the last quarter. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Institutional investors and hedge funds have recently modified their holdings of the company. Bank & Trust Co purchased a new stake in shares of Elevance Health in the 2nd quarter valued at $27,000. Opal Wealth Advisors LLC purchased a new stake in shares of Elevance Health in the 2nd quarter valued at $28,000. Palisade Asset Management LLC purchased a new stake in shares of Elevance Health in the 1st quarter valued at $28,000. Register Financial Advisors LLC purchased a new stake in shares of Elevance Health in the 1st quarter valued at $32,000. Finally, Beaird Harris Wealth Management LLC purchased a new stake in Elevance Health during the 4th quarter worth about $32,000. Hedge funds and other institutional investors 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.