Elevance Health’s (ELV) Overweight Rating Reiterated at Stephens

Stephens reaffirmed their overweight rating on shares of Elevance Health (NYSE:ELVFree Report) in a research note published on Tuesday, Benzinga reports. The firm currently has a $615.00 price objective on the stock.

Several other brokerages have also recently issued reports on ELV. Baird R W upgraded shares of Elevance Health to a strong-buy rating in a research report on Thursday, May 30th. Mizuho upped their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company a buy rating in a research report on Wednesday, April 24th. Barclays upped their price target on shares of Elevance Health from $584.00 to $621.00 and gave the company an overweight rating in a research report on Friday, April 19th. UBS Group increased their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a buy rating in a research report on Friday, April 19th. Finally, Cantor Fitzgerald reiterated an overweight rating and set a $580.00 price objective on shares of Elevance Health in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Elevance Health has an average rating of Buy and an average target price of $607.36.

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Elevance Health Price Performance

ELV stock opened at $538.75 on Tuesday. The company has a 50 day simple moving average of $528.96 and a 200 day simple moving average of $504.32. The stock has a market cap of $125.22 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.18 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 announced its quarterly earnings results 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 net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same period in the prior year, the company posted $9.46 EPS. The company’s revenue was up .9% on a year-over-year basis. Research analysts anticipate that Elevance Health will post 37.26 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Richwood Investment Advisors LLC lifted its stake in shares of Elevance Health by 0.8% in the fourth quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after buying an additional 20 shares in the last quarter. Bell Investment Advisors Inc lifted its position in shares of Elevance Health by 2.1% during the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after purchasing an additional 20 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of Elevance Health by 8.8% during the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after purchasing an additional 20 shares in the last quarter. Bedel Financial Consulting Inc. lifted its position in shares of Elevance Health by 1.6% during the first quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after purchasing an additional 20 shares in the last quarter. Finally, American Trust lifted its position in shares of Elevance Health by 2.6% during the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after purchasing an additional 20 shares in the last quarter. 89.24% of the stock is owned by institutional investors.

About Elevance Health

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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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