Elevance Health (NYSE:ELV) Price Target Raised to $585.00

Elevance Health (NYSE:ELV - Get Free Report) had its target price lifted by equities researchers at Mizuho from $575.00 to $585.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a "buy" rating on the stock. Mizuho's target price would indicate a potential upside of 9.59% from the stock's current price.

ELV has been the topic of a number of other reports. Cantor Fitzgerald reissued an "overweight" rating and set a $580.00 price target on shares of Elevance Health in a report on Wednesday, April 10th. UBS Group increased their target price on Elevance Health from $585.00 to $605.00 and gave the company a "buy" rating in a report on Friday, April 19th. StockNews.com downgraded shares of Elevance Health from a "strong-buy" rating to a "buy" rating in a report on Thursday, January 25th. Truist Financial reiterated a "buy" rating and set a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. Finally, Barclays increased their price objective on Elevance Health from $584.00 to $621.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $587.42.

Elevance Health Stock Performance

Shares of NYSE:ELV traded up $0.87 on Wednesday, hitting $533.79. 895,401 shares of the company were exchanged, compared to its average volume of 1,064,366. Elevance Health has a 1-year low of $412.00 and a 1-year high of $539.11. The firm has a market capitalization of $124.06 billion, a P/E ratio of 20.14, a price-to-earnings-growth ratio of 1.17 and a beta of 0.78. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock's 50 day moving average price is $510.23 and its 200 day moving average price is $485.10.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same period in the prior year, the company earned $9.46 earnings per share. The firm's revenue was up .9% on a year-over-year basis. Sell-side analysts predict that Elevance Health will post 37.24 EPS for the current year.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business's stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.29% of the stock is currently owned by company insiders.

Institutional Trading of Elevance Health

A number of hedge funds have recently added to or reduced their stakes in ELV. Avior Wealth Management LLC boosted its stake in shares of Elevance Health by 12.4% in the third quarter. Avior Wealth Management LLC now owns 607 shares of the company's stock valued at $264,000 after buying an additional 67 shares in the last quarter. Meridian Wealth Management LLC grew its holdings in shares of Elevance Health by 100.0% in the 3rd quarter. Meridian Wealth Management LLC now owns 2,406 shares of the company's stock worth $1,048,000 after acquiring an additional 1,203 shares during the period. B.O.S.S. Retirement Advisors LLC increased its position in shares of Elevance Health by 11.9% in the third quarter. B.O.S.S. Retirement Advisors LLC now owns 689 shares of the company's stock valued at $300,000 after buying an additional 73 shares in the last quarter. Proficio Capital Partners LLC increased its stake in shares of Elevance Health by 7.9% during the 3rd quarter. Proficio Capital Partners LLC now owns 589 shares of the company's stock worth $256,000 after purchasing an additional 43 shares in the last quarter. Finally, Koshinski Asset Management Inc. increased its position in Elevance Health by 5.8% during the third quarter. Koshinski Asset Management Inc. now owns 570 shares of the company's stock worth $248,000 after buying an additional 31 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Company Profile

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.