Elevance Health, Inc. (NYSE:ELV) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Analyst consensus is “Moderate Buy”: Fifteen of 23 analysts rate Elevance Health a buy, while eight recommend holding the stock. The average 12-month price target is approximately $440.90.
• Elevance Health reported quarterly EPS of $7.45, exceeding expectations of $6.21, while revenue reached $49.83 billion versus the $48.88 billion consensus estimate. Shares opened at $400.63, within a 12-month range of $274.84 to $436.24.
• The company 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 outstanding stock.

Shares of Elevance Health, Inc. (NYSE:ELV - Get Free Report) have earned an average recommendation of "Moderate Buy" from the twenty-three analysts that are currently covering the company, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $440.9048.

ELV has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Elevance Health from $492.00 to $473.00 and set an "overweight" rating for the company in a research report on Thursday, July 16th. Barclays lowered their price target on Elevance Health from $480.00 to $457.00 and set an "overweight" rating on the stock in a report on Thursday, July 16th. Robert W. Baird lifted their price objective on shares of Elevance Health from $331.00 to $393.00 and gave the company a "neutral" rating in a research note on Thursday, July 16th. JPMorgan Chase & Co. upped their price objective on shares of Elevance Health from $411.00 to $476.00 and gave the stock an "overweight" rating in a report on Monday, June 8th. Finally, Morgan Stanley increased their target price on shares of Elevance Health from $352.00 to $404.00 and gave the company an "equal weight" rating in a research report on Thursday, June 4th.

Insider Activity

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.34% of the stock is owned by company insiders.

Institutional Investors Weigh In On Elevance Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. WealthCollab LLC increased its position in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company's stock valued at $27,000 after purchasing an additional 27 shares during the period. Kilter Group LLC acquired a new stake in shares of Elevance Health in the second quarter valued at $28,000. Kemnay Advisory Services Inc. bought a new position in Elevance Health during the fourth quarter valued at about $31,000. J.Safra Asset Management Corp bought a new position in Elevance Health during the fourth quarter valued at about $32,000. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in Elevance Health during the fourth quarter worth about $38,000. Institutional investors own 89.24% of the company's stock.

Elevance Health Stock Performance

ELV opened at $400.63 on Monday. The business's 50 day moving average is $396.05 and its 200-day moving average is $358.01. The stock has a market cap of $86.88 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.30 and a beta of 0.68. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health has a twelve month low of $274.84 and a twelve month high of $436.24.

Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the previous year, the firm posted $8.84 earnings per share. The business's revenue was up .8% on a year-over-year basis. On average, analysts predict that Elevance Health will post 27.07 earnings per share for the current year.

Elevance Health Announces Dividend

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

Elevance Health Company Profile

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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