Barclays Issues Pessimistic Forecast for Elevance Health (NYSE:ELV) Stock Price

Elevance Health (NYSE:ELV - Get Free Report) had its price target reduced by Barclays from $522.00 to $480.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's target price suggests a potential upside of 26.71% from the company's previous close.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada reissued an "outperform" rating and set a $478.00 price target on shares of Elevance Health in a research note on Wednesday, April 23rd. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $485.00 target price on shares of Elevance Health in a research report on Wednesday, April 23rd. Robert W. Baird restated a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Finally, Guggenheim restated a "buy" rating and issued a $518.00 target price on shares of Elevance Health in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of "Moderate Buy" and a consensus target price of $499.53.

Elevance Health Trading Up 0.5%

Shares of NYSE ELV traded up $1.76 during trading on Monday, reaching $378.81. The stock had a trading volume of 1,911,576 shares, compared to its average volume of 1,533,973. The company has a market cap of $85.59 billion, a P/E ratio of 14.79, a PEG ratio of 1.18 and a beta of 0.66. The business's 50-day moving average price is $413.40 and its 200-day moving average price is $401.21. Elevance Health has a fifty-two week low of $357.45 and a fifty-two week high of $567.26. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating the consensus estimate of $10.60 by $1.37. The business had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, equities research analysts predict that Elevance Health will post 33.96 EPS for the current fiscal year.

Insider Buying and Selling

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the business's stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the sale, the chief financial officer now directly owns 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This represents a 19.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,535 shares of company stock worth $3,521,612 over the last ninety days. Company insiders own 0.29% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Accredited Wealth Management LLC bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $25,000. Flagship Wealth Advisors LLC purchased a new position in Elevance Health during the 4th quarter valued at $26,000. Private Wealth Management Group LLC increased its position in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after purchasing an additional 38 shares during the period. OFI Invest Asset Management purchased a new position in Elevance Health during the 4th quarter valued at $29,000. Finally, WealthTrak Capital Management LLC bought a new stake in shares of Elevance Health during the 4th quarter valued at $29,000. 89.24% of the stock is 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.