UBS Group Lowers Elevance Health (NYSE:ELV) Price Target to $555.00

Elevance Health (NYSE:ELV) had its price objective cut by investment analysts at UBS Group from $605.00 to $555.00 in a research report issued on Friday, Marketbeat reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 28.84% from the stock’s previous close.

A number of other brokerages have also recently issued reports on ELV. Barclays boosted their price objective on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. TD Cowen reduced their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Cantor Fitzgerald reduced their price target on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada reduced their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday. Finally, Morgan Stanley initiated coverage on shares of Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus target price of $572.27.

Elevance Health Trading Down 3.1 %

Shares of NYSE ELV opened at $430.77 on Friday. Elevance Health has a 1-year low of $397.98 and a 1-year high of $567.26. The company has a market cap of $100.12 billion, a PE ratio of 16.28, a P/E/G ratio of 1.08 and a beta of 0.82. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average of $526.74 and a two-hundred day moving average of $527.66.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results 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 return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the prior year, the firm earned $8.99 EPS. The firm’s quarterly revenue was up 5.3% compared to the same quarter last year. As a group, equities analysts expect that Elevance Health will post 37.26 earnings per share for the current fiscal year.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated 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 sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,170 shares of company stock worth $20,638,737. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Bank & Trust Co bought a new position in Elevance Health in the 2nd quarter valued at approximately $27,000. Palisade Asset Management LLC acquired a new stake in Elevance Health in the 1st quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health in the 2nd quarter valued at $28,000. Strategic Financial Concepts LLC bought a new position in Elevance Health during the 2nd quarter valued at $30,000. Finally, Register Financial Advisors LLC bought a new position in Elevance Health during the 1st quarter valued at $32,000. Institutional investors own 89.24% of the company’s stock.

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.