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

Elevance Health, Inc. (NYSE:ELVGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $536.53.

ELV has been the subject of a number of research reports. Mizuho decreased their target price on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Morgan Stanley dropped their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Wells Fargo & Company decreased their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a report on Monday, November 4th. Raymond James set a $485.00 target price on shares of Elevance Health in a report on Friday, October 18th. Finally, Truist Financial lowered their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th.

Check Out Our Latest Stock Report on Elevance Health

Elevance Health Trading Down 0.3 %

NYSE ELV opened at $384.26 on Friday. The stock has a market cap of $89.12 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.08 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a fifty day simple moving average of $388.02 and a two-hundred day simple moving average of $467.11.

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

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in ELV. Inspire Investing LLC raised its holdings in Elevance Health by 24.9% in the 4th quarter. Inspire Investing LLC now owns 2,842 shares of the company’s stock valued at $1,048,000 after buying an additional 566 shares during the period. Avior Wealth Management LLC raised its stake in shares of Elevance Health by 10.4% in the 4th quarter. Avior Wealth Management LLC now owns 1,300 shares of the company’s stock valued at $480,000 after acquiring an additional 122 shares during the period. Mutual Advisors LLC lifted its holdings in shares of Elevance Health by 2.5% in the 4th quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after acquiring an additional 52 shares during the last quarter. True North Advisors LLC purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $1,717,000. Finally, Janney Montgomery Scott LLC acquired a new stake in Elevance Health in the 4th quarter valued at approximately $16,311,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Company Profile

(Get Free Report

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.

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Analyst Recommendations for Elevance Health (NYSE:ELV)

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