Elevance Health (NYSE:ELV) Price Target Lowered to $484.00 at TD Cowen

Elevance Health (NYSE:ELV) had its price objective dropped by stock analysts at TD Cowen from $589.00 to $484.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s target price suggests a potential upside of 15.28% from the stock’s previous close.

Several other research firms have also commented on ELV. Barclays raised their price objective on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Wells Fargo & Company reissued a “buy” rating on shares of Elevance Health in a research note on Friday. Stephens reissued an “underperform” rating on shares of Elevance Health in a research note on Friday. Raymond James set a $485.00 price target on shares of Elevance Health in a research note on Friday. Finally, Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $557.20.

Elevance Health Price Performance

Shares of ELV opened at $419.84 on Monday. Elevance Health has a 1-year low of $397.98 and a 1-year high of $567.26. The stock has a market cap of $97.58 billion, a PE ratio of 15.87, a P/E/G ratio of 1.08 and a beta of 0.82. The firm has a 50-day simple moving average of $522.44 and a two-hundred day simple moving average of $526.65. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the previous year, the business posted $8.99 EPS. The company’s revenue for the quarter was up 5.3% compared to the same quarter last year. As a group, analysts forecast that Elevance Health will post 37.26 EPS for the current year.

Insider Activity at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction 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 sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

Large investors have recently bought and sold shares of the business. Bank & Trust Co acquired a new stake in Elevance Health during the 2nd quarter worth $27,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health during the 2nd quarter worth $28,000. Palisade Asset Management LLC acquired a new stake in Elevance Health during the 1st quarter worth $28,000. Eastern Bank purchased a new stake in shares of Elevance Health during the third quarter worth about $31,000. Finally, Register Financial Advisors LLC purchased a new stake in shares of Elevance Health during the first quarter worth about $32,000. 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.