Elevance Health (NYSE:ELV - Get Free Report) had its target price cut by research analysts at Barclays from $480.00 to $434.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "overweight" rating on the stock. Barclays's price target would indicate a potential upside of 25.87% from the stock's previous close.
Several other analysts have also issued reports on the company. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $485.00 price objective on shares of Elevance Health in a research note on Wednesday, April 23rd. Robert W. Baird reaffirmed a "neutral" rating and issued a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research note on Tuesday, April 15th. Mizuho upped their price objective on Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 9th. Finally, Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. Four research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat, Elevance Health has a consensus rating of "Moderate Buy" and a consensus target price of $495.80.
View Our Latest Research Report on Elevance Health
Elevance Health Stock Performance
Shares of ELV traded down $1.56 during trading hours on Wednesday, hitting $344.81. The stock had a trading volume of 201,749 shares, compared to its average volume of 1,616,417. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.43 and a quick ratio of 1.43. Elevance Health has a 12 month low of $339.71 and a 12 month high of $567.26. The firm has a market capitalization of $77.90 billion, a PE ratio of 13.46, a PEG ratio of 0.89 and a beta of 0.60. The stock has a fifty day moving average price of $383.53 and a 200 day moving average price of $397.80.
Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.60 by $1.37. Elevance Health had a return on equity of 18.61% and a net margin of 3.23%. The business had revenue of $48.77 billion during the quarter, compared to analyst estimates of $46.26 billion. Analysts anticipate that Elevance Health will post 33.96 EPS for the current 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. 0.29% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Elevance Health
Several hedge funds and other institutional investors have recently modified their holdings of ELV. Accredited Wealth Management LLC purchased a new stake in shares of Elevance Health in the fourth quarter worth approximately $25,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Elevance Health in the fourth quarter worth approximately $26,000. Private Wealth Management Group LLC raised its holdings in shares of Elevance Health by 152.0% in the first quarter. Private Wealth Management Group LLC now owns 63 shares of the company's stock worth $27,000 after buying an additional 38 shares during the period. OFI Invest Asset Management purchased a new stake in shares of Elevance Health in the fourth quarter worth approximately $29,000. Finally, WealthTrak Capital Management LLC bought a new position in Elevance Health in the fourth quarter worth approximately $29,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.
Elevance Health Company Profile
(
Get Free Report)
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.
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