Elevance Health, Inc. (NYSE:ELV) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Elevance Health, Inc. (NYSE:ELV) has earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $544.53.

A number of equities research analysts have weighed in on the stock. Wells Fargo & Company cut their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday. UBS Group lowered their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a research report on Friday, October 18th. Cantor Fitzgerald reduced their price objective on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating for the company in a research note on Friday, October 18th. Finally, Raymond James set a $485.00 target price on shares of Elevance Health in a research note on Friday, October 18th.

Insider Activity at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.35% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank & Trust Co acquired a new position in Elevance Health in the 2nd quarter valued at $27,000. PSI Advisors LLC bought a new position in Elevance Health during the third quarter worth $27,000. Opal Wealth Advisors LLC acquired a new stake in Elevance Health in the second quarter worth $28,000. Strategic Financial Concepts LLC acquired a new position in Elevance Health during the second quarter worth about $30,000. Finally, Eastern Bank acquired a new position in shares of Elevance Health in the 3rd quarter valued at $31,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Trading Up 0.9 %

NYSE:ELV opened at $417.86 on Tuesday. Elevance Health has a 12 month low of $397.98 and a 12 month high of $567.26. The stock has a market capitalization of $96.91 billion, a PE ratio of 15.23, a price-to-earnings-growth ratio of 1.21 and a beta of 0.85. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm’s 50 day moving average is $499.42 and its 200 day moving average is $520.76.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The business’s revenue was up 5.3% on a year-over-year basis. During the same period in the prior year, the firm posted $8.99 earnings per share. Sell-side analysts expect that Elevance Health will post 32.93 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is currently 23.77%.

About Elevance Health

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.