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

Elevance Health (NYSE:ELV) had its target price increased by Mizuho from $575.00 to $585.00 in a research note published on Wednesday, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also recently issued reports about the company. StockNews.com cut Elevance Health from a strong-buy rating to a buy rating in a research report on Thursday, January 25th. Truist Financial reiterated a buy rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. UBS Group increased their price target on Elevance Health from $585.00 to $605.00 and gave the stock a buy rating in a research report on Friday, April 19th. Wells Fargo & Company increased their price target on Elevance Health from $557.00 to $600.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Finally, Jefferies Financial Group increased their price target on Elevance Health from $602.00 to $604.00 and gave the stock a buy rating in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus price target of $587.42.

Elevance Health Trading Up 0.2 %

Shares of NYSE ELV opened at $533.79 on Wednesday. The stock’s 50 day moving average price is $510.78 and its two-hundred day moving average price is $485.44. Elevance Health has a 52-week low of $412.00 and a 52-week high of $539.11. The stock has a market capitalization 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 quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the prior year, the firm posted $9.46 earnings per share. Elevance Health’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts anticipate that Elevance Health will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

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

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several institutional investors have recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $1,347,434,000. Massachusetts Financial Services Co. MA acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $467,141,000. Canoe Financial LP grew its position in shares of Elevance Health by 158.1% in the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after purchasing an additional 517,116 shares during the last quarter. Morningstar Investment Services LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $239,244,000. Finally, International Assets Investment Management LLC grew its position in shares of Elevance Health by 45,888.1% in the fourth quarter. International Assets Investment Management LLC now owns 255,694 shares of the company’s stock valued at $1,205,750,000 after purchasing an additional 255,138 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors.

About Elevance Health

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.