Elevance Health, Inc. (NYSE:ELV) Receives $611.36 Consensus Target Price from Analysts

Elevance Health, Inc. (NYSE:ELVGet Free Report) has earned an average recommendation of “Buy” from the sixteen brokerages that are currently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $611.36.

A number of brokerages recently commented on ELV. Cantor Fitzgerald restated an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research note on Wednesday, June 12th. Jefferies Financial Group boosted 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. Bank of America boosted their price target on Elevance Health from $621.00 to $646.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. Finally, Barclays boosted their price target on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th.

Read Our Latest Stock Report on ELV

Insider Activity

In other news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ELV. Axxcess Wealth Management LLC acquired a new position in Elevance Health during the third quarter valued at $556,000. Alps Advisors Inc. increased its position in Elevance Health by 545.2% in the 3rd quarter. Alps Advisors Inc. now owns 7,929 shares of the company’s stock worth $3,452,000 after purchasing an additional 6,700 shares during the last quarter. JT Stratford LLC increased its position in Elevance Health by 86.6% in the 3rd quarter. JT Stratford LLC now owns 2,129 shares of the company’s stock worth $927,000 after purchasing an additional 988 shares during the last quarter. Seven Eight Capital LP increased its position in Elevance Health by 90.0% in the 3rd quarter. Seven Eight Capital LP now owns 1,079 shares of the company’s stock worth $470,000 after purchasing an additional 511 shares during the last quarter. Finally, Scotia Capital Inc. increased its position in Elevance Health by 33.7% in the 3rd quarter. Scotia Capital Inc. now owns 14,747 shares of the company’s stock worth $6,421,000 after purchasing an additional 3,720 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV opened at $529.24 on Wednesday. The company has a market cap of $123.00 billion, a P/E ratio of 20.00, a PEG ratio of 1.17 and a beta of 0.84. The stock has a fifty day moving average price of $533.94 and a 200 day moving average price of $512.12. 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 has a 12 month low of $412.00 and a 12 month high of $550.34.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The firm’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $9.46 EPS. On average, research analysts forecast that Elevance Health will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. The ex-dividend date was Monday, June 10th. Elevance Health’s dividend payout ratio is 24.64%.

Elevance Health Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for Elevance Health (NYSE:ELV)

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