Jefferies Financial Group Increases Elevance Health (NYSE:ELV) Price Target to $604.00

Elevance Health (NYSE:ELV) had its target price raised by equities researchers at Jefferies Financial Group from $602.00 to $604.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. Jefferies Financial Group’s target price points to a potential upside of 15.01% from the stock’s previous close.

Several other research analysts have also recently issued reports on ELV. Royal Bank of Canada upped their price target on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a report on Thursday, January 25th. Wells Fargo & Company reduced their target price on Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a report on Monday, April 8th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Barclays began coverage on Elevance Health in a report on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price objective on the stock. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $575.00.

Elevance Health Trading Up 3.2 %

Shares of ELV stock opened at $525.19 on Friday. The stock has a 50-day simple moving average of $508.63 and a 200 day simple moving average of $482.59. The stock has a market capitalization of $122.21 billion, a P/E ratio of 20.87, a P/E/G ratio of 1.12 and a beta of 0.78. Elevance Health has a fifty-two week low of $412.00 and a fifty-two week high of $539.11. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. The company had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $9.46 EPS. On average, sell-side analysts expect that Elevance Health will post 37.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Elevance Health during the 3rd quarter valued at about $25,000. Pin Oak Investment Advisors Inc. bought a new position in Elevance Health during the fourth quarter valued at approximately $28,000. Fortis Capital Advisors LLC acquired a new stake in Elevance Health in the fourth quarter valued at approximately $29,000. TD Capital Management LLC bought a new stake in Elevance Health in the fourth quarter worth approximately $30,000. Finally, Quarry LP acquired a new position in shares of Elevance Health during the 4th quarter worth $30,000. Hedge funds and other institutional investors 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.