Elevance Health (NYSE:ELV - Get Free Report) has been given a $500.00 price objective by investment analysts at Truist Financial in a research report issued on Monday, Marketbeat.com reports. The brokerage presently has a "buy" rating on the stock. Truist Financial's price target indicates a potential upside of 31.35% from the company's current price.
ELV has been the subject of a number of other research reports. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research report on Friday, March 28th. Robert W. Baird reissued a "neutral" rating and issued a $529.00 target price (down previously from $625.00) on shares of Elevance Health in a research report on Tuesday, April 15th. Mizuho upped their target price on shares of Elevance Health from $455.00 to $505.00 and gave the company an "outperform" rating in a research note on Wednesday, April 9th. Baird R W downgraded Elevance Health from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 15th. Finally, Wall Street Zen raised Elevance Health from a "hold" rating to a "buy" rating in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $498.87.
Get Our Latest Report on Elevance Health
Elevance Health Stock Down 0.9%
Elevance Health stock traded down $3.27 during midday trading on Monday, hitting $380.65. 1,246,349 shares of the stock were exchanged, compared to its average volume of 1,554,024. Elevance Health has a 1 year low of $357.45 and a 1 year high of $567.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The firm has a market cap of $86.00 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.18 and a beta of 0.60. The company has a 50 day moving average price of $407.33 and a two-hundred day moving average price of $400.59.
Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.60 by $1.37. The business had revenue of $48.77 billion for the quarter, compared to analyst estimates of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. On average, sell-side analysts predict 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 Elevance Health stock in a transaction 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 now owns 18,977 shares of the company's stock, valued at $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.29% of the company's stock.
Institutional Investors Weigh In On Elevance Health
Hedge funds and other institutional investors have recently modified their holdings of the stock. Golden State Wealth Management LLC acquired a new stake in shares of Elevance Health in the 4th quarter worth approximately $75,000. Stephens Inc. AR lifted its position in Elevance Health by 0.7% in the fourth quarter. Stephens Inc. AR now owns 21,034 shares of the company's stock worth $7,760,000 after purchasing an additional 156 shares during the period. Harbour Trust & Investment Management Co boosted its stake in Elevance Health by 43.2% during the 4th quarter. Harbour Trust & Investment Management Co now owns 1,044 shares of the company's stock valued at $385,000 after purchasing an additional 315 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new position in shares of Elevance Health during the 4th quarter valued at $125,000. Finally, Equitable Trust Co. raised its stake in shares of Elevance Health by 17.1% in the 4th quarter. Equitable Trust Co. now owns 2,061 shares of the company's stock worth $760,000 after buying an additional 301 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors.
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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