Elevance Health (NYSE:ELV) Price Target Raised to $480.00

Elevance Health (NYSE:ELV) had its target price raised by stock analysts at Barclays from $408.00 to $480.00 in a note issued to investors on Tuesday,MarketScreener reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 23.82% from the stock’s current price.

Several other research firms also recently weighed in on ELV. Guggenheim lifted their price target on shares of Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Evercore reissued a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Citigroup upgraded Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. UBS Group upped their target price on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday. Finally, The Goldman Sachs Group raised their price target on Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $403.11.

Elevance Health Trading Down 1.8%

Shares of ELV opened at $387.65 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The company has a 50 day simple moving average of $335.93 and a two-hundred day simple moving average of $336.96. Elevance Health has a 1 year low of $273.71 and a 1 year high of $408.00. The firm has a market cap of $84.18 billion, a P/E ratio of 16.49, a price-to-earnings-growth ratio of 2.23 and a beta of 0.66.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. The firm had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The company’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the prior year, the company earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities analysts expect that Elevance Health will post 26.91 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elevance Health

Several hedge funds have recently modified their holdings of ELV. Vanguard Group Inc. grew its holdings in shares of Elevance Health by 0.6% during the third quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company’s stock valued at $7,431,322,000 after buying an additional 141,747 shares during the last quarter. Wellington Management Group LLP lifted its position in Elevance Health by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after acquiring an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Elevance Health by 27.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after purchasing an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in Elevance Health by 10.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after purchasing an additional 455,946 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Elevance Health by 0.6% in the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after purchasing an additional 24,271 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.