Elevance Health (NYSE:ELV) Price Target Raised to $585.00 at Mizuho

Elevance Health (NYSE:ELV) had its price objective hoisted by Mizuho from $575.00 to $585.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently commented on ELV. Cantor Fitzgerald reiterated an overweight rating and issued a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Truist Financial restated a buy rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Royal Bank of Canada raised their price target on Elevance Health from $574.00 to $575.00 and gave the stock an outperform rating in a research note on Friday, April 19th. Jefferies Financial Group raised their price target on Elevance Health from $602.00 to $604.00 and gave the stock a buy rating in a research note on Friday, April 19th. Finally, Wells Fargo & Company raised their price target on Elevance Health from $557.00 to $600.00 and gave the stock an overweight rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $587.42.

Elevance Health Trading Up 0.2 %

ELV opened at $533.79 on Wednesday. Elevance Health has a one year low of $412.00 and a one year high of $539.11. The company has a market cap of $124.06 billion, a P/E ratio of 20.17, a PEG ratio of 1.17 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The business’s 50-day simple moving average is $510.78 and its 200-day simple moving average is $485.44.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the prior year, the business posted $9.46 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts expect that Elevance Health will post 37.24 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. Elevance Health’s payout ratio is 24.64%.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.29% of the stock is owned by insiders.

Institutional Trading of Elevance Health

Several hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Elevance Health by 18.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,901 shares of the company’s stock valued at $14,468,000 after buying an additional 4,271 shares during the period. Private Trust Co. NA lifted its holdings in shares of Elevance Health by 4.5% in the 1st quarter. Private Trust Co. NA now owns 1,502 shares of the company’s stock valued at $779,000 after buying an additional 65 shares during the period. Leavell Investment Management Inc. lifted its holdings in shares of Elevance Health by 77.5% in the 1st quarter. Leavell Investment Management Inc. now owns 5,860 shares of the company’s stock valued at $3,039,000 after buying an additional 2,559 shares during the period. CENTRAL TRUST Co lifted its holdings in shares of Elevance Health by 1.5% in the 1st quarter. CENTRAL TRUST Co now owns 2,297 shares of the company’s stock valued at $1,191,000 after buying an additional 34 shares during the period. Finally, Simplicity Wealth LLC acquired a new stake in shares of Elevance Health in the 1st quarter valued at approximately $12,596,000. 89.24% of the stock is owned by institutional investors and hedge funds.

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.