Elevance Health (NYSE:ELV) Upgraded by Bank of America to "Buy" Rating

Elevance Health (NYSE:ELV - Get Free Report) was upgraded by equities research analysts at Bank of America from a "neutral" rating to a "buy" rating in a report released on Wednesday, MarketBeat Ratings reports. The firm currently has a $435.00 price target on the stock, up from their previous price target of $405.00. Bank of America's price target would suggest a potential upside of 19.95% from the company's current price.

Several other analysts also recently issued reports on the company. The Goldman Sachs Group lifted their price target on Elevance Health from $350.00 to $370.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Wall Street Zen cut Elevance Health from a "buy" rating to a "hold" rating in a research note on Sunday, February 8th. JPMorgan Chase & Co. upped their price target on Elevance Health from $397.00 to $411.00 and gave the stock an "overweight" rating in a research report on Tuesday. Weiss Ratings raised shares of Elevance Health from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Friday. Finally, UBS Group set a $400.00 price objective on shares of Elevance Health in a research report on Thursday, January 29th. Thirteen equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $384.58.

Elevance Health Trading Up 1.8%

NYSE:ELV opened at $362.66 on Wednesday. Elevance Health has a fifty-two week low of $273.71 and a fifty-two week high of $424.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $78.75 billion, a PE ratio of 15.43, a price-to-earnings-growth ratio of 2.13 and a beta of 0.49. The business's 50-day simple moving average is $309.52 and its 200-day simple moving average is $331.28.

Elevance Health (NYSE:ELV - Get Free Report) last posted its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to analysts' expectations of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.Elevance Health's revenue for the quarter was up 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Sell-side analysts expect that Elevance Health will post 26.79 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elevance Health

Institutional investors and hedge funds have recently modified their holdings of the company. Sound View Wealth Advisors Group LLC increased its position in Elevance Health by 3.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company's stock worth $354,000 after buying an additional 29 shares during the last quarter. Fulton Breakefield Broenniman LLC lifted its position in shares of Elevance Health by 3.6% in the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company's stock valued at $289,000 after buying an additional 29 shares during the last quarter. Perigon Wealth Management LLC boosted its stake in shares of Elevance Health by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company's stock worth $481,000 after acquiring an additional 29 shares during the period. Savvy Advisors Inc. boosted its stake in shares of Elevance Health by 3.2% during the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company's stock worth $343,000 after acquiring an additional 30 shares during the period. Finally, HBK Sorce Advisory LLC increased its holdings in shares of Elevance Health by 4.4% during the 3rd quarter. HBK Sorce Advisory LLC now owns 743 shares of the company's stock worth $260,000 after acquiring an additional 31 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health Company Profile

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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