Elevance Health (NYSE:ELV) Receives Overweight Rating from Stephens

Elevance Health (NYSE:ELVGet Free Report)‘s stock had its “overweight” rating restated by Stephens in a note issued to investors on Tuesday, Benzinga reports. They currently have a $615.00 price target on the stock. Stephens’ price target would indicate a potential upside of 14.69% from the company’s previous close.

Several other research firms have also commented on ELV. Truist Financial reaffirmed a “buy” rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a research note on Thursday, May 30th. JPMorgan Chase & Co. boosted their price objective on Elevance Health from $628.00 to $631.00 and gave the stock an “overweight” rating in a research report on Thursday, May 30th. Barclays raised their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Bank of America upped their price objective on shares of Elevance Health from $621.00 to $646.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. One investment analyst has rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $605.93.

Check Out Our Latest Analysis on ELV

Elevance Health Price Performance

Shares of ELV stock opened at $536.25 on Tuesday. The firm has a fifty day moving average of $526.91 and a two-hundred day moving average of $503.48. The firm has a market cap of $124.64 billion, a P/E ratio of 20.27, a P/E/G ratio of 1.19 and a beta of 0.83. Elevance Health has a 1-year low of $412.00 and a 1-year high of $550.34. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $9.46 earnings per share. As a group, research analysts anticipate that Elevance Health will post 37.26 earnings per share for the current fiscal year.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Institutional investors have recently modified their holdings of the company. Pin Oak Investment Advisors Inc. acquired a new position in shares of Elevance Health during the 4th quarter worth about $28,000. Palisade Asset Management LLC bought a new position in Elevance Health in the first quarter worth $28,000. Alaska Permanent Fund Corp acquired a new stake in Elevance Health during the fourth quarter worth $31,000. Beaird Harris Wealth Management LLC bought a new stake in Elevance Health in the 4th quarter valued at $32,000. Finally, Register Financial Advisors LLC acquired a new position in shares of Elevance Health in the 1st quarter valued at $32,000. 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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