Elevance Health (NYSE:ELV) Given New $475.00 Price Target at Truist Financial

Key Points

• Truist Financial raised its price target on Elevance Health from $450 to $475 and kept a buy rating, implying about 11.26% upside from the prior close.
• Other analysts have also turned more positive, including Mizuho and Sanford C. Bernstein, and the stock now carries a Moderate Buy consensus with an average target price of $431.95.
• Elevance Health recently reported strong quarterly results, with EPS of $12.58 beating estimates and revenue of $49.49 billion topping expectations, while the stock traded near its 52-week high.

Elevance Health (NYSE:ELV - Get Free Report) had its target price upped by equities research analysts at Truist Financial from $450.00 to $475.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Truist Financial's price target indicates a potential upside of 11.26% from the stock's previous close.

ELV has been the subject of a number of other reports. Mizuho lifted their price target on shares of Elevance Health from $435.00 to $465.00 and gave the stock an "outperform" rating in a research note on Monday, June 8th. Robert W. Baird increased their price objective on shares of Elevance Health from $317.00 to $331.00 and gave the stock a "neutral" rating in a research report on Thursday, April 23rd. The Goldman Sachs Group boosted their target price on Elevance Health from $350.00 to $370.00 and gave the company a "neutral" rating in a research report on Friday, April 24th. Sanford C. Bernstein raised their price target on Elevance Health from $424.00 to $482.00 and gave the stock an "outperform" rating in a research note on Thursday, July 2nd. Finally, Jefferies Financial Group reduced their target price on Elevance Health from $395.00 to $391.00 and set a "buy" rating on the stock in a research note on Monday, April 20th. Fifteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $431.95.

Elevance Health Price Performance

Shares of Elevance Health stock opened at $426.93 on Tuesday. The stock has a market cap of $92.71 billion, a price-to-earnings ratio of 18.25, a price-to-earnings-growth ratio of 2.36 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a 50 day moving average price of $398.14 and a 200-day moving average price of $354.13. Elevance Health has a one year low of $273.71 and a one year high of $427.64.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating the consensus estimate of $10.74 by $1.84. The company had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.Elevance Health's quarterly revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities analysts expect that Elevance Health will post 26.86 EPS for the current year.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the firm's stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.34% of the stock is owned by insiders.

Institutional Trading of Elevance Health

Several institutional investors and hedge funds have recently made changes to their positions in ELV. WealthCollab LLC increased its position in 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. Signet Financial Management LLC boosted its stake in shares of Elevance Health by 3.5% during the first quarter. Signet Financial Management LLC now owns 837 shares of the company's stock valued at $245,000 after purchasing an additional 28 shares in the last quarter. Sound View Wealth Advisors Group LLC increased its holdings in Elevance Health by 3.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company's stock valued at $354,000 after buying an additional 29 shares during the period. Fulton Breakefield Broenniman LLC increased its holdings in Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company's stock valued at $289,000 after buying an additional 29 shares during the period. Finally, Perigon Wealth Management LLC raised its stake in Elevance Health by 2.2% in the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company's stock worth $481,000 after buying an additional 29 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.

About Elevance Health

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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