Elevance Health, Inc. (NYSE:ELV) Receives $544.53 Consensus Price Target from Brokerages

Elevance Health, Inc. (NYSE:ELV) has received an average rating of “Moderate Buy” from the sixteen ratings firms that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $539.20.

A number of research analysts recently issued reports on the company. Stephens restated an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. Truist Financial reiterated a “buy” rating and issued a $520.00 price objective (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Royal Bank of Canada dropped their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research note on Friday, October 18th. Cantor Fitzgerald reduced their price objective on Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research report on Friday, October 18th. Finally, Raymond James set a $485.00 target price on Elevance Health in a research report on Friday, October 18th.

Elevance Health Trading Up 0.1 %

ELV opened at $429.22 on Tuesday. Elevance Health has a 52-week low of $397.98 and a 52-week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $99.54 billion, a P/E ratio of 15.65, a P/E/G ratio of 1.24 and a beta of 0.85. The firm’s 50 day moving average is $494.37 and its 200-day moving average is $519.32.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the business posted $8.99 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. Analysts expect that Elevance Health will post 32.93 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.52%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The stock was 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 of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elevance Health

A number of large investors have recently made changes to their positions in the company. Bank & Trust Co acquired a new stake in Elevance Health during the 2nd quarter valued at $27,000. PSI Advisors LLC purchased a new stake in Elevance Health in the 3rd quarter worth about $27,000. Opal Wealth Advisors LLC purchased a new stake in Elevance Health in the 2nd quarter worth about $28,000. Strategic Financial Concepts LLC acquired a new stake in Elevance Health during the 2nd quarter worth about $30,000. Finally, Eastern Bank acquired a new position in shares of Elevance Health in the 3rd quarter valued at about $31,000. 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.