Elevance Health, Inc. (NYSE:ELV) Receives $413.81 Consensus Target Price from Analysts

Key Points

• Elevance Health, Inc. has a consensus recommendation of "Moderate Buy" from eighteen analysts, with an average price target of $413.81.
• The company reported $8.84 EPS for the last quarter, missing the consensus estimate of $9.30, but its revenue was up 14.3% year-over-year.
• Elevance Health recently declared a quarterly dividend of $1.71 per share, indicating a 2.1% dividend yield and a payout ratio of 29.11%.

Shares of Elevance Health, Inc. (NYSE:ELV - Get Free Report) have earned a consensus rating of "Moderate Buy" from the eighteen analysts that are presently covering the firm, Marketbeat Ratings reports. Six analysts have rated the stock with a hold recommendation and twelve have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $413.8125.

ELV has been the subject of a number of research reports. Barclays cut their price objective on Elevance Health from $434.00 to $358.00 and set an "overweight" rating for the company in a report on Friday, July 18th. Truist Financial cut their price objective on Elevance Health from $500.00 to $440.00 and set a "buy" rating for the company in a report on Wednesday, July 16th. Robert W. Baird reduced their price target on Elevance Health from $492.00 to $297.00 and set a "neutral" rating on the stock in a research report on Friday, July 25th. Wells Fargo & Company reduced their price target on Elevance Health from $400.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, August 15th. Finally, Guggenheim reduced their price target on Elevance Health from $447.00 to $360.00 and set a "buy" rating on the stock in a research report on Friday, July 18th.

Insider Activity at Elevance Health

In related news, Director Susan D. Devore purchased 1,200 shares of Elevance Health stock in a transaction that occurred on Tuesday, August 19th. The shares were acquired at an average cost of $312.15 per share, for a total transaction of $374,580.00. Following the transaction, the director directly owned 3,502 shares in the company, valued at $1,093,149.30. The trade was a 52.13% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gail Boudreaux purchased 8,500 shares of Elevance Health stock in a transaction that occurred on Friday, July 18th. The shares were bought at an average price of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares in the company, valued at $43,333,678.80. The trade was a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.29% of the stock is owned by company insiders.

Institutional Investors Weigh In On Elevance Health

Several institutional investors and hedge funds have recently bought and sold shares of ELV. Norges Bank purchased a new stake in Elevance Health in the 2nd quarter worth approximately $1,148,379,000. Nuveen LLC purchased a new stake in Elevance Health in the 1st quarter worth approximately $789,943,000. GAMMA Investing LLC lifted its holdings in Elevance Health by 81,726.5% in the 1st quarter. GAMMA Investing LLC now owns 1,474,514 shares of the company's stock worth $641,355,000 after buying an additional 1,472,712 shares during the period. Sanders Capital LLC lifted 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 worth $2,265,773,000 after buying an additional 1,152,440 shares during the period. Finally, Beutel Goodman & Co Ltd. purchased a new stake in Elevance Health in the 2nd quarter worth approximately $293,141,000. Hedge funds and other institutional investors own 89.24% of the company's stock.

Elevance Health Price Performance

NYSE ELV traded down $1.04 during trading on Monday, reaching $321.29. The company's stock had a trading volume of 1,645,523 shares, compared to its average volume of 1,971,479. The stock has a market capitalization of $72.35 billion, a PE ratio of 13.67, a P/E/G ratio of 1.17 and a beta of 0.59. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The firm has a fifty day moving average of $315.76 and a 200 day moving average of $374.86. Elevance Health has a one year low of $273.71 and a one year high of $562.11.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The company reported $8.84 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $9.30 by ($0.46). Elevance Health had a return on equity of 17.59% and a net margin of 2.83%.The firm had revenue of $49.42 billion during the quarter, compared to analysts' expectations of $48.26 billion. During the same quarter in the previous year, the company posted $10.12 earnings per share. Elevance Health's revenue for the quarter was up 14.3% compared to the same quarter last year. Analysts expect that Elevance Health will post 33.96 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, September 25th. Investors of record on Wednesday, September 10th will be given a dividend of $1.71 per share. This represents a $6.84 annualized dividend and a yield of 2.1%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio (DPR) is presently 29.11%.

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.