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

Shares of Elevance Health, Inc. (NYSE:ELV - Get Free Report) have received a consensus rating of "Moderate Buy" from the sixteen brokerages that are currently covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and twelve have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $495.80.

Several equities analysts recently issued reports on the stock. Guggenheim reissued a "buy" rating and set a $518.00 price target on shares of Elevance Health in a report on Wednesday, April 23rd. Argus set a $465.00 price target on shares of Elevance Health in a report on Friday, April 25th. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a report on Friday, March 28th. Truist Financial set a $500.00 price target on shares of Elevance Health and gave the company a "buy" rating in a report on Monday, June 9th. Finally, Mizuho lifted their price target on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a report on Wednesday, April 9th.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $340.04 on Friday. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.43 and a current ratio of 1.43. The firm's 50-day simple moving average is $380.88 and its 200-day simple moving average is $397.57. Elevance Health has a twelve month low of $337.61 and a twelve month high of $567.26. The firm has a market cap of $76.83 billion, a P/E ratio of 13.27, a price-to-earnings-growth ratio of 0.87 and a beta of 0.60.

Elevance Health (NYSE:ELV - Get Free Report) last issued 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. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. As a group, research analysts expect that Elevance Health will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th were paid a dividend of $1.71 per share. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Tuesday, June 10th. Elevance Health's dividend payout ratio (DPR) is 26.69%.

Insider Buying and Selling at Elevance Health

In related 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 completion of the sale, the chief financial officer directly owned 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.29% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elevance Health

A number of institutional investors and hedge funds have recently modified their holdings of the business. Milestone Asset Management LLC grew its holdings in Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after purchasing an additional 24 shares during the period. GLOBALT Investments LLC GA grew its holdings in Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock valued at $2,743,000 after purchasing an additional 24 shares during the period. Elser Financial Planning Inc grew its holdings in Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock valued at $384,000 after purchasing an additional 26 shares during the period. Checchi Capital Advisers LLC grew its holdings in Elevance Health by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock valued at $1,190,000 after purchasing an additional 27 shares during the period. Finally, Hemington Wealth Management grew its holdings in Elevance Health by 13.3% during the first quarter. Hemington Wealth Management now owns 230 shares of the company's stock valued at $100,000 after purchasing an additional 27 shares during the period. 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.

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