Elevance Health, Inc. (NYSE:ELV) Receives $605.07 Average Price Target from Analysts

Elevance Health, Inc. (NYSE:ELV) has received a consensus recommendation of “Buy” from the fifteen brokerages that are presently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a hold recommendation, thirteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $605.07.

ELV has been the subject of a number of analyst reports. Morgan Stanley started coverage on Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $600.00 price objective on shares of Elevance Health in a report on Tuesday, October 1st. Barclays raised their target price on Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial upped their price target on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Finally, Stephens reissued an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a report on Thursday, September 5th.

Insiders Place Their Bets

In other news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock valued at $17,588,116 over the last ninety days. Company insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several hedge funds have recently bought and sold shares of the company. BlueCrest Capital Management Ltd purchased a new stake in Elevance Health during the 4th quarter worth approximately $742,000. Bell Investment Advisors Inc grew its holdings in Elevance Health by 2.1% during the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock worth $466,000 after acquiring an additional 20 shares in the last quarter. Barden Capital Management Inc. increased its position in shares of Elevance Health by 133.3% in the 4th quarter. Barden Capital Management Inc. now owns 9,902 shares of the company’s stock valued at $4,360,000 after purchasing an additional 5,658 shares during the last quarter. Harbert Fund Advisors Inc. purchased a new stake in shares of Elevance Health during the 4th quarter worth $1,297,000. Finally, Grayhawk Investment Strategies Inc. purchased a new position in Elevance Health in the fourth quarter valued at $340,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 2.0 %

Elevance Health stock opened at $501.88 on Friday. Elevance Health has a one year low of $435.99 and a one year high of $567.26. The stock has a market cap of $116.65 billion, a PE ratio of 18.97, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. The stock has a 50-day moving average of $531.94 and a two-hundred day moving average of $529.15.

Elevance Health (NYSE:ELV) last posted 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 business had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $9.04 earnings per share. On average, research analysts anticipate that Elevance Health will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.30%. The ex-dividend date of this dividend was Tuesday, September 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

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.