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

Elevance Health, Inc. (NYSE:ELV - Get Free Report) has received an average rating of "Moderate Buy" from the twenty analysts that are presently covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $400.0588.

ELV has been the subject of several research reports. Wall Street Zen downgraded shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Friday, July 18th. Sanford C. Bernstein dropped their price objective on shares of Elevance Health from $445.00 to $420.00 and set an "outperform" rating on the stock in a research note on Thursday, October 16th. Morgan Stanley upped their target price on shares of Elevance Health from $316.00 to $359.00 and gave the company an "equal weight" rating in a report on Tuesday, October 14th. Truist Financial set a $400.00 price target on Elevance Health in a report on Tuesday, October 14th. Finally, Mizuho boosted their price target on Elevance Health from $342.00 to $420.00 and gave the company an "outperform" rating in a research report on Thursday, October 9th.

Elevance Health Price Performance

Shares of NYSE ELV opened at $354.33 on Tuesday. The stock has a market cap of $79.79 billion, a P/E ratio of 15.08, a P/E/G ratio of 1.27 and a beta of 0.59. Elevance Health has a twelve month low of $273.71 and a twelve month high of $458.75. The stock has a 50 day moving average of $323.21 and a two-hundred day moving average of $354.62. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.64.

Insider Activity

In related news, Director Susan D. Devore purchased 1,200 shares of the business's stock in a transaction dated Tuesday, August 19th. The stock was acquired at an average price of $312.15 per share, for a total transaction of $374,580.00. Following the completion of the purchase, the director directly owned 3,502 shares of the company's stock, valued at $1,093,149.30. This trade represents a 52.13% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.29% of the company's stock.

Hedge Funds Weigh In On Elevance Health

A number of large investors have recently bought and sold shares of ELV. Norges Bank acquired a new position in shares of Elevance Health during the second quarter worth about $1,148,379,000. Nuveen LLC acquired a new stake in Elevance Health in the first quarter valued at about $789,943,000. Sanders Capital LLC boosted its holdings in Elevance Health by 24.7% in the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company's stock valued at $2,265,773,000 after purchasing an additional 1,152,440 shares in the last quarter. Beutel Goodman & Co Ltd. acquired a new position in Elevance Health during the 2nd quarter worth approximately $293,141,000. Finally, Vanguard Group Inc. raised its stake in shares of Elevance Health by 3.2% during the 2nd quarter. Vanguard Group Inc. now owns 22,856,898 shares of the company's stock worth $8,890,419,000 after buying an additional 704,790 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Company Profile

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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