Elevance Health (NYSE:ELV) Given New $460.00 Price Target at Bank of America

Elevance Health (NYSE:ELV) had its price target increased by research analysts at Bank of America from $435.00 to $460.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “buy” rating on the stock. Bank of America‘s target price would suggest a potential upside of 12.56% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Sanford C. Bernstein increased their price objective on Elevance Health from $384.00 to $424.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Jefferies Financial Group cut their price objective on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a research report on Monday, April 20th. Guggenheim increased their price objective on Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Finally, Morgan Stanley increased their price objective on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research report on Thursday. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $411.11.

Elevance Health Stock Performance

NYSE ELV traded up $17.40 during trading hours on Thursday, hitting $408.67. 723,514 shares of the stock were exchanged, compared to its average volume of 1,823,318. The company has a market cap of $88.75 billion, a price-to-earnings ratio of 17.36, a price-to-earnings-growth ratio of 2.20 and a beta of 0.67. Elevance Health has a 12-month low of $273.71 and a 12-month high of $410.81. The stock has a 50-day moving average of $349.95 and a 200 day moving average of $340.65. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. The firm had revenue of $49.49 billion during the quarter, compared to analysts’ expectations of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities research analysts forecast that Elevance Health will post 26.94 earnings per share for the current year.

Institutional Trading of Elevance Health

Several large investors have recently bought and sold shares of ELV. Norges Bank acquired a new stake in Elevance Health in the fourth quarter valued at $1,058,165,000. Wellington Management Group LLP grew its holdings in Elevance Health by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Elevance Health by 27.5% in the fourth 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. Amundi grew its holdings in Elevance Health by 145.7% in the first quarter. Amundi now owns 2,693,664 shares of the company’s stock valued at $788,570,000 after purchasing an additional 1,597,497 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Elevance Health by 50.3% in the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $1,368,505,000 after purchasing an additional 1,306,390 shares during the last quarter. 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.