Elevance Health's (ELV) "Buy" Rating Reaffirmed at UBS Group

Elevance Health (NYSE:ELV - Get Free Report)'s stock had its "buy" rating restated by research analysts at UBS Group in a note issued to investors on Monday, Marketbeat reports. They currently have a $484.00 price objective on the stock, down from their previous price objective of $555.00. UBS Group's price objective would suggest a potential upside of 42.45% from the company's previous close.

A number of other brokerages have also weighed in on ELV. Baird R W lowered shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price target on shares of Elevance Health in a research report on Wednesday, April 23rd. Robert W. Baird reiterated a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Truist Financial set a $500.00 price objective on Elevance Health and gave the company a "buy" rating in a research report on Monday, June 9th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Four investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Elevance Health has an average rating of "Moderate Buy" and an average price target of $491.07.

Elevance Health Trading Down 0.3%

Shares of Elevance Health stock traded down $0.90 during trading on Monday, reaching $339.77. The company's stock had a trading volume of 1,652,623 shares, compared to its average volume of 1,744,657. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. The company has a market cap of $76.77 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.87 and a beta of 0.60. The firm's 50-day moving average is $380.88 and its two-hundred day moving average is $397.73. Elevance Health has a 52-week low of $335.17 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The company reported $11.97 earnings per share for the quarter, beating analysts' consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. On average, sell-side analysts anticipate that Elevance Health will post 33.96 earnings per share for the current year.

Insider Buying and Selling

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 stock was sold at an average price of $424.82, for a total value of $1,949,074.16. Following the transaction, the chief financial officer directly owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.29% of the stock is currently owned by corporate insiders.

Institutional Trading of Elevance Health

Large investors have recently made changes to their positions in the business. Accredited Wealth Management LLC purchased a new stake in shares of Elevance Health during the fourth quarter valued at $25,000. Flagship Wealth Advisors LLC bought a new position in Elevance Health in the fourth quarter worth approximately $26,000. Private Wealth Management Group LLC raised its position in shares of Elevance Health by 152.0% in the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after acquiring an additional 38 shares in the last quarter. WealthTrak Capital Management LLC purchased a new position in shares of Elevance Health in the 4th quarter worth approximately $29,000. Finally, WPG Advisers LLC acquired a new position in shares of Elevance Health during the first quarter worth $29,000. 89.24% of the stock is currently 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.