Elevance Health (NYSE:ELV) Price Target Lowered to $480.00 at Truist Financial

Elevance Health (NYSE:ELV) had its target price reduced by research analysts at Truist Financial from $520.00 to $480.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 29.19% from the stock’s current price.

Several other analysts have also issued reports on ELV. TD Cowen dropped their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. UBS Group lowered their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Barclays cut their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada decreased their target price on Elevance Health from $585.00 to $478.00 and set an “outperform” rating on the stock in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $536.53.

Elevance Health Trading Up 1.6 %

Elevance Health stock opened at $371.56 on Monday. The company has a market cap of $86.17 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 1.15 and a beta of 0.84. The firm has a 50-day moving average of $394.43 and a 200-day moving average of $476.77. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. Elevance Health has a one year low of $362.21 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same quarter in the prior year, the business earned $8.99 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, equities analysts expect that Elevance Health will post 32.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. The trade was a 46.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by company insiders.

Institutional Investors Weigh In On Elevance Health

A number of institutional investors and hedge funds have recently made changes to their positions in ELV. Raelipskie Partnership acquired a new position in Elevance Health during the 3rd quarter valued at about $26,000. PSI Advisors LLC purchased a new position in shares of Elevance Health during the third quarter valued at approximately $27,000. Strategic Financial Concepts LLC bought a new stake in Elevance Health during the second quarter worth $30,000. Eastern Bank purchased a new stake in Elevance Health in the 3rd quarter valued at $31,000. Finally, Dunhill Financial LLC lifted its stake in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after acquiring an additional 26 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

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.