Elevance Health, Inc. (NYSE:ELV - Get Free Report)'s stock price reached a new 52-week low on Monday after JPMorgan Chase & Co. lowered their price target on the stock from $472.00 to $384.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Elevance Health traded as low as $274.40 and last traded at $278.65, with a volume of 616987 shares trading hands. The stock had previously closed at $277.09.
A number of other research analysts have also recently weighed in on the stock. Leerink Partnrs cut shares of Elevance Health from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 17th. Wells Fargo & Company cut their price target on shares of Elevance Health from $478.00 to $400.00 and set an "overweight" rating on the stock in a report on Tuesday, July 15th. Wall Street Zen lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Friday. Barclays lowered their price target on shares of Elevance Health from $434.00 to $358.00 and set an "overweight" rating on the stock in a research report on Friday. Finally, Morgan Stanley cut their target price on shares of Elevance Health from $428.00 to $316.00 and set an "overweight" rating on the stock in a research note on Friday. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $432.69.
Get Our Latest Report on ELV
Insider Buying and Selling at Elevance Health
In related news, CFO Mark Kaye sold 4,588 shares of the business'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 value of $1,949,074.16. Following the completion of the sale, the chief financial officer owned 18,977 shares of the company's stock, valued at approximately $8,061,809.14. The trade was a 19.47% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gail Boudreaux purchased 8,500 shares of the company's stock in a transaction on Friday, July 18th. The stock was acquired at an average cost of $286.94 per share, for a total transaction of $2,438,990.00. Following the completion of the transaction, the chief executive officer owned 151,020 shares in the company, valued at approximately $43,333,678.80. This trade represents a 5.96% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.29% of the company's stock.
Institutional Trading of Elevance Health
Several institutional investors have recently bought and sold shares of ELV. Milestone Asset Management LLC increased its holdings in Elevance Health by 2.2% in the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company's stock valued at $488,000 after purchasing an additional 24 shares during the last quarter. GLOBALT Investments LLC GA boosted its position in shares of Elevance Health by 0.4% during the first quarter. GLOBALT Investments LLC GA now owns 6,306 shares of the company's stock worth $2,743,000 after buying an additional 24 shares during the period. Elser Financial Planning Inc boosted its position in shares of Elevance Health by 3.0% during the first quarter. Elser Financial Planning Inc now owns 882 shares of the company's stock worth $384,000 after buying an additional 26 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of Elevance Health by 1.0% during the first quarter. Checchi Capital Advisers LLC now owns 2,737 shares of the company's stock worth $1,190,000 after buying an additional 27 shares during the period. Finally, Hemington Wealth Management boosted its position in shares of Elevance Health by 13.3% during the first quarter. Hemington Wealth Management now owns 230 shares of the company's stock worth $100,000 after buying an additional 27 shares during the period. Institutional investors and hedge funds own 89.24% of the company's stock.
Elevance Health Stock Up 1.9%
The company has a debt-to-equity ratio of 0.64, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $63.63 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.81 and a beta of 0.60. The firm has a 50-day moving average price of $371.52 and a two-hundred day moving average price of $396.02.
Elevance Health (NYSE:ELV - Get Free Report) last issued its quarterly earnings results on Thursday, July 17th. The company reported $8.84 EPS for the quarter, missing the consensus estimate of $9.30 by ($0.46). Elevance Health had a net margin of 2.83% and a return on equity of 17.59%. The company had revenue of $49.42 billion for the quarter, compared to analyst estimates of $48.26 billion. During the same period last year, the company posted $10.12 earnings per share. The business's revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Elevance Health, Inc. will post 33.96 earnings per share for the current fiscal year.
Elevance Health Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 25th. Shareholders of record on Wednesday, September 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date is Wednesday, September 10th. Elevance Health's dividend payout ratio is presently 29.11%.
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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