Elevance Health (NYSE:ELV) Price Target Increased to $604.00 by Analysts at Jefferies Financial Group

Elevance Health (NYSE:ELV) had its price objective lifted by research analysts at Jefferies Financial Group from $602.00 to $604.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Jefferies Financial Group’s price objective indicates a potential upside of 15.01% from the stock’s previous close.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada increased their target price on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Wells Fargo & Company cut their target price on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a research note on Monday, April 8th. Barclays initiated coverage on shares of Elevance Health in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 price target for the company. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $575.00.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $525.19 on Friday. The business’s fifty day simple moving average is $508.63 and its 200-day simple moving average is $482.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm has a market cap of $122.21 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 1.12 and a beta of 0.78. Elevance Health has a 52 week low of $412.00 and a 52 week high of $539.11.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.49% and a return on equity of 20.47%. The business had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. During the same period last year, the business earned $9.46 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts forecast that Elevance Health will post 37.03 earnings per share for the current year.

Insider Buying and Selling at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.35% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elevance Health

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Richwood Investment Advisors LLC lifted its holdings in shares of Elevance Health by 0.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after purchasing an additional 20 shares during the last quarter. Bell Investment Advisors Inc lifted its stake in Elevance Health by 2.1% in the fourth quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after buying an additional 20 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Elevance Health by 8.8% in the first quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after acquiring an additional 20 shares during the period. Alliance Wealth Advisors LLC grew its position in shares of Elevance Health by 2.9% during the fourth quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock worth $351,000 after acquiring an additional 21 shares during the last quarter. Finally, Fiduciary Alliance LLC grew its position in shares of Elevance Health by 3.6% during the first quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock worth $315,000 after acquiring an additional 21 shares during the last quarter. 89.24% of the stock is 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.