Elevance Health, Inc. (NYSE:ELV) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Analyst sentiment is moderately bullish: Twenty-three brokerages rate Elevance Health a consensus “Moderate Buy,” with 15 buy ratings and 8 holds. The average 12-month price target is approximately $440.90.
• Recent results exceeded expectations: Elevance reported quarterly EPS of $7.45 versus the $6.21 consensus estimate, while revenue reached $49.83 billion, above expectations of $48.88 billion.
• The company raised shareholder returns: Elevance declared a quarterly dividend of $1.72 per share, equivalent to $6.88 annually and a 1.7% yield; institutional investors own 89.24% of the stock.

Elevance Health, Inc. (NYSE:ELV - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-three brokerages that are presently covering the company, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $440.9048.

ELV has been the topic of several analyst reports. Mizuho upped their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a report on Monday, June 8th. TD Cowen lifted their price target on shares of Elevance Health from $400.00 to $465.00 and gave the company a "buy" rating in a report on Tuesday, July 14th. Robert W. Baird boosted their price target on shares of Elevance Health from $331.00 to $393.00 and gave the company a "neutral" rating in a research report on Thursday, July 16th. Evercore reaffirmed a "hold" rating on shares of Elevance Health in a research note on Tuesday, May 19th. Finally, UBS Group raised their price objective on shares of Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a report on Friday, May 22nd.

Elevance Health Trading Up 5.0%

Shares of Elevance Health stock opened at $416.58 on Friday. Elevance Health has a 52-week low of $274.84 and a 52-week high of $436.24. The firm has a market capitalization of $90.34 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 2.07 and a beta of 0.69. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The company's fifty day moving average price is $397.04 and its two-hundred day moving average price is $366.40.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to analysts' expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health's quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm posted $8.84 EPS. On average, analysts expect that Elevance Health will post 27.18 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a dividend of $1.72 per share. The ex-dividend date is Thursday, September 10th. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. Elevance Health's dividend payout ratio is 30.58%.

Hedge Funds Weigh In On Elevance Health

Several institutional investors have recently bought and sold shares of ELV. Kilter Group LLC acquired a new position in Elevance Health during the 2nd quarter worth about $28,000. Kemnay Advisory Services Inc. bought a new position in shares of Elevance Health in the fourth quarter worth about $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health in the fourth quarter worth about $32,000. WealthCollab LLC lifted its position in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company's stock worth $27,000 after purchasing an additional 27 shares in the last quarter. Finally, Elevation Wealth Partners LLC raised its position in Elevance Health by 600.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company's stock worth $41,000 after purchasing an additional 90 shares during the last quarter. Institutional investors own 89.24% of the company's stock.

About Elevance Health

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.

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