Elevance Health (NYSE:ELV) Given New $476.00 Price Target at JPMorgan Chase & Co.

Elevance Health (NYSE:ELV) had its price objective lifted by JPMorgan Chase & Co. from $411.00 to $476.00 in a research note issued to investors on Monday,MarketScreener reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 14.24% from the company’s previous close.

ELV has been the topic of several other research reports. Evercore restated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Leerink Partners set a $364.00 target price on shares of Elevance Health in a research note on Thursday, April 23rd. The Goldman Sachs Group lifted their target price on Elevance Health from $350.00 to $370.00 and gave the stock a “neutral” rating in a report on Friday, April 24th. Weiss Ratings upgraded shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Finally, Truist Financial lifted their target price on shares of Elevance Health from $375.00 to $450.00 and gave the stock a “buy” rating in a research report on Monday, June 1st. Fourteen investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and a consensus target price of $416.11.

Elevance Health Trading Up 0.3%

ELV stock traded up $1.15 during trading on Monday, reaching $416.68. The company had a trading volume of 65,705 shares, compared to its average volume of 1,813,020. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. Elevance Health has a 52 week low of $273.71 and a 52 week high of $416.56. The business has a 50 day moving average of $354.74 and a 200 day moving average of $341.84. The company has a market cap of $90.49 billion, a P/E ratio of 17.73, a PEG ratio of 2.35 and a beta of 0.67.

Elevance Health (NYSE:ELV) last announced its 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 analyst estimates of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, sell-side analysts forecast that Elevance Health will post 26.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Murphy Middleton Hinkle & Parker Inc. acquired a new position in shares of Elevance Health during the 4th quarter worth about $5,941,000. Blume Capital Management Inc. boosted its holdings in Elevance Health by 236.7% in the 3rd quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock worth $1,986,000 after buying an additional 4,320 shares during the last quarter. Victory Capital Management Inc. increased its stake in Elevance Health by 31.1% during the 3rd quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock worth $149,182,000 after buying an additional 109,462 shares in the last quarter. Caprock Group LLC acquired a new position in shares of Elevance Health during the third quarter valued at approximately $1,638,000. Finally, Bright Rock Capital Management LLC acquired a new position in shares of Elevance Health during the fourth quarter valued at approximately $7,362,000. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health Company Profile

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.