Elevance Health (NYSE:ELV) PT Raised to $605.00

Elevance Health (NYSE:ELV) had its price objective lifted by UBS Group from $585.00 to $605.00 in a report issued on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts have also issued reports about the stock. Cantor Fitzgerald reiterated an overweight rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. Truist Financial reiterated a buy rating and issued a $600.00 target price (up from $580.00) on shares of Elevance Health in a research note on Friday. Jefferies Financial Group raised their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a buy rating in a research note on Friday. Wells Fargo & Company raised their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an overweight rating in a research report on Friday. Finally, StockNews.com lowered shares of Elevance Health from a strong-buy rating to a buy rating in a research report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, Elevance Health currently has a consensus rating of Moderate Buy and an average price target of $587.64.

Elevance Health Stock Up 0.1 %

ELV stock opened at $532.17 on Friday. Elevance Health has a 12-month low of $412.00 and a 12-month high of $539.11. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. The company has a market cap of $123.69 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.16 and a beta of 0.78. The company has a 50 day moving average of $509.68 and a two-hundred day moving average of $484.51.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter in the prior year, the business posted $9.46 EPS. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts anticipate that Elevance Health will post 37.24 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.23%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Buying and Selling at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Nilsine Partners LLC grew its holdings in Elevance Health by 45.2% during the first quarter. Nilsine Partners LLC now owns 2,252 shares of the company’s stock valued at $1,168,000 after purchasing an additional 701 shares during the period. Bay Rivers Group bought a new stake in shares of Elevance Health in the first quarter worth $205,000. Greystone Financial Group LLC lifted its position in shares of Elevance Health by 66.6% in the first quarter. Greystone Financial Group LLC now owns 18,606 shares of the company’s stock worth $9,648,000 after purchasing an additional 7,440 shares in the last quarter. HF Advisory Group LLC raised its position in Elevance Health by 0.7% during the first quarter. HF Advisory Group LLC now owns 2,983 shares of the company’s stock worth $1,547,000 after acquiring an additional 21 shares in the last quarter. Finally, PFG Investments LLC bought a new stake in Elevance Health during the first quarter worth $399,000. 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.