Elevance Health (NYSE:ELV) Price Target Cut to $375.00 by Analysts at Truist Financial

Key Points

• Truist cut its price target on Elevance Health to $375 (from $390) but kept a "buy" rating, citing a potential upside of about 21.18% from the prior close.
• Multiple analysts have trimmed targets recently, leaving a mixed consensus of 12 Buy, 10 Hold, 1 Sell and an overall average rating of "Hold" with an average target of $384.67.
• Elevance reported $3.33 EPS (above estimates) while revenue of $49.31B slightly missed expectations; the stock trades around $309 with a PE of 12.3 and a 52-week range of $273.71–$443.29.

Elevance Health (NYSE:ELV - Get Free Report) had its price target decreased by analysts at Truist Financial from $390.00 to $375.00 in a note issued to investors on Monday,MarketScreener reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target would indicate a potential upside of 21.18% from the stock's previous close.

A number of other analysts also recently issued reports on the stock. Mizuho reduced their price target on shares of Elevance Health from $413.00 to $350.00 and set an "outperform" rating on the stock in a report on Wednesday, March 11th. Morgan Stanley decreased their target price on Elevance Health from $359.00 to $352.00 and set an "equal weight" rating for the company in a research report on Wednesday, December 17th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $332.00 price target on shares of Elevance Health in a report on Thursday, January 29th. Jefferies Financial Group lowered their price objective on shares of Elevance Health from $401.00 to $395.00 and set a "buy" rating for the company in a research report on Friday, January 30th. Finally, Sanford C. Bernstein dropped their target price on shares of Elevance Health from $431.00 to $409.00 and set an "outperform" rating on the stock in a research note on Friday, January 30th. Twelve equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Elevance Health has an average rating of "Hold" and an average target price of $384.67.

Elevance Health Price Performance

Shares of ELV opened at $309.45 on Monday. The firm's 50-day simple moving average is $311.25 and its two-hundred day simple moving average is $332.13. Elevance Health has a fifty-two week low of $273.71 and a fifty-two week high of $443.29. The stock has a market cap of $67.97 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.71 and a beta of 0.49. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.23. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The business had revenue of $49.31 billion for the quarter, compared to analysts' expectations of $49.52 billion. During the same period in the prior year, the firm posted $3.84 EPS. The firm's quarterly revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Analysts anticipate that Elevance Health will post 33.96 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elevance Health

Large investors have recently modified their holdings of the business. Sei Investments Co. increased its stake in Elevance Health by 7.7% during the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company's stock valued at $63,666,000 after purchasing an additional 11,745 shares in the last quarter. Glenview Trust co lifted its stake in shares of Elevance Health by 41.5% during the second quarter. Glenview Trust co now owns 1,619 shares of the company's stock worth $630,000 after buying an additional 475 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its holdings in shares of Elevance Health by 6.9% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company's stock valued at $25,650,000 after buying an additional 4,272 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Elevance Health by 5.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company's stock valued at $16,478,000 after buying an additional 2,012 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in shares of Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company's stock valued at $17,080,000 after acquiring an additional 23,180 shares during the period. Hedge funds and other institutional investors own 89.24% of the company's stock.

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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