Argus Reiterates Hold Rating for Elevance Health (NYSE:ELV)

Elevance Health (NYSE:ELV - Get Free Report)'s stock had its "hold" rating reiterated by Argus in a research note issued to investors on Monday, MarketBeat Ratings reports.

ELV has been the topic of a number of other reports. Leerink Partnrs lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a report on Thursday. Sanford C. Bernstein reiterated an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Truist Financial lowered their price target on shares of Elevance Health from $500.00 to $440.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Morgan Stanley reduced their target price on Elevance Health from $428.00 to $316.00 and set an "overweight" rating for the company in a research report on Friday. Finally, Baird R W lowered Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Elevance Health presently has an average rating of "Moderate Buy" and an average target price of $435.93.

Elevance Health Stock Up 0.6%

ELV traded up $1.65 during trading on Monday, hitting $278.74. 765,491 shares of the company's stock were exchanged, compared to its average volume of 1,669,245. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.64. The business's 50 day moving average is $371.52 and its two-hundred day moving average is $396.02. Elevance Health has a fifty-two week low of $274.60 and a fifty-two week high of $567.26. The stock has a market cap of $62.77 billion, a P/E ratio of 11.85, a PEG ratio of 0.81 and a beta of 0.60.

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

Insider Transactions at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of the company'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 transaction of $1,949,074.16. Following the sale, the chief financial officer directly owned 18,977 shares in the company, valued at $8,061,809.14. This represents a 19.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Gail Boudreaux purchased 8,500 shares of the firm's 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 acquisition, the chief executive officer directly owned 151,020 shares in the company, valued at $43,333,678.80. This trade represents a 5.96% increase in their position. The disclosure for this purchase can be found here. 0.29% of the stock is currently owned by insiders.

Institutional Trading of Elevance Health

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Accredited Wealth Management LLC purchased a new position in Elevance Health during the 4th quarter valued at $25,000. Private Wealth Management Group LLC boosted its holdings in Elevance Health by 152.0% during the 1st quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock valued at $27,000 after acquiring an additional 38 shares during the period. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the 4th quarter valued at $29,000. WPG Advisers LLC purchased a new position in Elevance Health during the 1st quarter valued at $29,000. Finally, Lee Danner & Bass Inc. purchased a new position in Elevance Health during the 4th quarter valued at $30,000. 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.