Wells Fargo & Company Issues Pessimistic Forecast for Elevance Health (NYSE:ELV) Stock Price

Elevance Health (NYSE:ELVGet Free Report) had its price objective lowered by stock analysts at Wells Fargo & Company from $483.00 to $478.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 19.32% from the stock’s current price.

ELV has been the subject of a number of other reports. UBS Group lowered their target price on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research note on Friday, October 18th. Morgan Stanley dropped their price objective 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. Truist Financial reduced their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. TD Cowen dropped their price target on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Finally, Argus cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Check Out Our Latest Stock Report on Elevance Health

Elevance Health Stock Down 1.2 %

Shares of NYSE ELV opened at $400.62 on Tuesday. The firm has a 50 day moving average price of $386.65 and a 200 day moving average price of $459.57. 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 stock has a market cap of $92.91 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.11 and a beta of 0.84. Elevance Health has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELVGet Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Analysts expect that Elevance Health will post 32.95 EPS for the current year.

Hedge Funds Weigh In On Elevance Health

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Cypress Wealth Services LLC boosted its stake in shares of Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock worth $353,000 after acquiring an additional 23 shares during the period. Atomi Financial Group Inc. lifted its holdings in Elevance Health by 4.2% during the 3rd quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after purchasing an additional 25 shares during the last quarter. Lifeworks Advisors LLC increased its holdings in shares of Elevance Health by 2.5% in the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after purchasing an additional 25 shares during the last quarter. Catalyst Financial Partners LLC raised its position in shares of Elevance Health by 2.9% in the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after purchasing an additional 26 shares during the period. Finally, Fullcircle Wealth LLC lifted its stake in shares of Elevance Health by 1.5% during the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after buying an additional 26 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

Elevance Health Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Elevance Health (NYSE:ELV)

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