Elevance Health, Inc. (NYSE:ELV) Receives $539.20 Consensus Price Target from Brokerages

Elevance Health, Inc. (NYSE:ELV) has received an average recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment 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 1-year price objective among brokers that have issued a report on the stock in the last year is $539.20.

A number of brokerages have recently weighed in on ELV. StockNews.com lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Wednesday, December 18th. UBS Group reduced their price target on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. Barclays dropped their price objective on shares of Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Wells Fargo & Company reduced their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Finally, Mizuho cut their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th.

Elevance Health Stock Down 0.7 %

ELV stock opened at $371.07 on Wednesday. The stock has a market capitalization of $86.06 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 1.15 and a beta of 0.83. Elevance Health has a 52 week low of $362.21 and a 52 week high of $567.26. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $399.58 and a 200 day moving average of $483.25.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The company had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $8.99 earnings per share. Sell-side analysts forecast that Elevance Health will post 32.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Thursday, December 5th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date was Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Buying and Selling at Elevance Health

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

Several large investors have recently made changes to their positions in the company. Raelipskie Partnership acquired a new stake in Elevance Health during the 3rd quarter worth $26,000. PSI Advisors LLC acquired a new position in Elevance Health during the third quarter worth about $27,000. Strategic Financial Concepts LLC acquired a new stake in Elevance Health in the 2nd quarter valued at about $30,000. Eastern Bank purchased a new position in Elevance Health in the 3rd quarter worth approximately $31,000. Finally, Dunhill Financial LLC boosted its holdings in shares of Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the last quarter. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

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.