Elevance Health (NYSE:ELV - Get Free Report) had its price objective reduced by Barclays from $480.00 to $434.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Barclays's price objective would suggest a potential upside of 27.63% from the stock's previous close.
ELV has been the subject of several other research reports. Mizuho raised their price objective on Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research report on Wednesday, April 9th. Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Guggenheim reissued a "buy" rating and set a $518.00 price objective on shares of Elevance Health in a research report on Wednesday, April 23rd. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Robert W. Baird reissued a "neutral" rating and set a $529.00 price objective (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $495.80.
Read Our Latest Stock Analysis on ELV
Elevance Health Trading Down 1.7%
Shares of Elevance Health stock traded down $5.82 on Wednesday, hitting $340.04. The stock had a trading volume of 1,698,140 shares, compared to its average volume of 1,633,788. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.66. Elevance Health has a one year low of $337.61 and a one year high of $567.26. The stock has a market cap of $76.83 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 0.87 and a beta of 0.60. The stock's 50-day simple moving average is $380.88 and its two-hundred day simple moving average is $397.40.
Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.60 by $1.37. Elevance Health had a net margin of 3.23% and a return on equity of 18.61%. The firm had revenue of $48.77 billion for the quarter, compared to analysts' expectations of $46.26 billion. As a group, sell-side analysts predict that Elevance Health will post 33.96 EPS for the current year.
Insider Buying and Selling
In other Elevance Health news, CFO Mark Kaye sold 4,588 shares of Elevance Health stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $424.82, for a total transaction of $1,949,074.16. Following the completion of the transaction, the chief financial officer directly owned 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.29% of the stock is owned by insiders.
Hedge Funds Weigh In On Elevance Health
Several hedge funds have recently bought and sold shares of ELV. Milestone Asset Management LLC grew its position in shares of Elevance Health by 2.2% during the 1st quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock worth $488,000 after buying an additional 24 shares in the last quarter. GLOBALT Investments LLC GA lifted its stake in shares of Elevance Health by 0.4% during the 1st quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock worth $2,743,000 after purchasing an additional 24 shares during the last quarter. Elser Financial Planning Inc lifted its stake in shares of Elevance Health by 3.0% during the 1st quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock worth $384,000 after purchasing an additional 26 shares during the last quarter. Checchi Capital Advisers LLC lifted its stake in shares of Elevance Health by 1.0% during the 1st quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after purchasing an additional 27 shares during the last quarter. Finally, Hemington Wealth Management lifted its stake in shares of Elevance Health by 13.3% during the 1st quarter. Hemington Wealth Management now owns 230 shares of the company's stock worth $100,000 after purchasing an additional 27 shares during the last quarter. Institutional investors own 89.24% of the company's stock.
About Elevance Health
(
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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