Cantor Fitzgerald Forecasts Strong Price Appreciation for Elevance Health (NYSE:ELV) Stock

Elevance Health (NYSE:ELV - Get Free Report) had its price target raised by investment analysts at Cantor Fitzgerald from $400.00 to $450.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Cantor Fitzgerald's target price points to a potential upside of 10.20% from the stock's current price.

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Several other research firms have also commented on ELV. UBS Group raised their target price on Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a report on Friday, May 22nd. Jefferies Financial Group lowered their price objective on Elevance Health from $395.00 to $391.00 and set a "buy" rating on the stock in a research report on Monday, April 20th. Barclays increased their price target on shares of Elevance Health from $408.00 to $480.00 and gave the stock an "overweight" rating in a report on Tuesday, May 26th. Wall Street Zen upgraded shares of Elevance Health from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Deutsche Bank Aktiengesellschaft upgraded Elevance Health from a "hold" rating to a "buy" rating and raised their target price for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Fifteen equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, Elevance Health has an average rating of "Moderate Buy" and a consensus price target of $420.70.

Elevance Health Trading Down 2.3%

Elevance Health stock opened at $408.35 on Tuesday. Elevance Health has a 52 week low of $273.71 and a 52 week high of $427.19. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $88.68 billion, a price-to-earnings ratio of 17.37, a price-to-earnings-growth ratio of 2.37 and a beta of 0.67. The stock has a 50-day moving average price of $391.29 and a 200 day moving average price of $351.07.

Elevance Health (NYSE:ELV - Get Free Report) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating the consensus estimate of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to analysts' expectations of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business's quarterly revenue was up 1.5% compared to the same quarter last year. During the same period in the previous year, the business posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Sell-side analysts anticipate that Elevance Health will post 26.86 EPS for the current year.

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by corporate insiders.

Institutional Trading of Elevance Health

Several large investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP grew its holdings in shares of Elevance Health by 25.2% in the fourth quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company's stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company's stock valued at $2,610,261,000 after purchasing an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company's stock valued at $1,764,231,000 after buying an additional 455,946 shares during the period. First Eagle Investment Management LLC grew its stake in shares of Elevance Health by 0.6% in the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company's stock valued at $1,410,219,000 after buying an additional 24,271 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Elevance Health by 50.3% during the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company's stock worth $1,368,505,000 after buying an additional 1,306,390 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

About Elevance Health

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.

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