Elevance Health (NYSE:ELV) Price Target Lowered to $555.00 at UBS Group

Elevance Health (NYSE:ELV) had its price objective trimmed by UBS Group from $605.00 to $555.00 in a report issued on Friday, Marketbeat.com reports. The firm currently has a buy rating on the stock.

Several other research analysts have also weighed in on ELV. Cantor Fitzgerald dropped their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley assumed coverage on Elevance Health in a research report on Monday, June 24th. They set an “overweight” rating and a $643.00 price objective for the company. Royal Bank of Canada dropped their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday. Truist Financial reiterated a “buy” rating and issued a $520.00 target price (down from $620.00) on shares of Elevance Health in a research note on Friday. Finally, Bank of America restated a “neutral” rating and set a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $572.27.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $430.77 on Friday. The company has a market cap of $100.12 billion, a P/E ratio of 16.28, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company’s fifty day moving average is $526.74 and its two-hundred day moving average is $527.81. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. Elevance Health has a 12-month low of $397.98 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The business had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. During the same period in the prior year, the company posted $8.99 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. Equities analysts expect that Elevance Health will post 37.26 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insider Activity at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Hedge funds have recently modified their holdings of the stock. Bank & Trust Co acquired a new stake in shares of Elevance Health during the 2nd quarter worth about $27,000. Palisade Asset Management LLC acquired a new stake in shares of Elevance Health during the first quarter worth approximately $28,000. Opal Wealth Advisors LLC bought a new position in shares of Elevance Health in the second quarter valued at approximately $28,000. Strategic Financial Concepts LLC acquired a new position in shares of Elevance Health in the 2nd quarter worth approximately $30,000. Finally, Register Financial Advisors LLC bought a new stake in Elevance Health during the 1st quarter worth approximately $32,000. 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.