Mizuho Boosts Elevance Health (NYSE:ELV) Price Target to $585.00

Elevance Health (NYSE:ELV) had its target price boosted by Mizuho from $575.00 to $585.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently commented on ELV. StockNews.com cut shares of Elevance Health from a strong-buy rating to a buy rating in a research report on Thursday, January 25th. Royal Bank of Canada upped their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the company an outperform rating in a research report on Friday, April 19th. Truist Financial restated a buy rating and issued a $600.00 price objective (up previously from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. UBS Group upped their target price on shares of Elevance Health from $585.00 to $605.00 and gave the stock a buy rating in a research note on Friday, April 19th. Finally, Barclays upped their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an overweight rating in a research note on Friday, April 19th. One research analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $587.42.

Elevance Health Stock Performance

ELV stock opened at $537.26 on Wednesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. The company has a 50 day moving average price of $511.89 and a 200 day moving average price of $486.40. Elevance Health has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The stock has a market capitalization of $124.87 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78.

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

Elevance Health Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.21%. Elevance Health’s dividend payout ratio is 24.64%.

Insider Transactions at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at $16,791,460.40. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Institutional investors and hedge funds have recently modified their holdings of the company. OFI Invest Asset Management bought a new stake in shares of Elevance Health in the 3rd quarter valued at about $25,000. Pin Oak Investment Advisors Inc. bought a new position in Elevance Health in the 4th quarter valued at about $28,000. Alaska Permanent Fund Corp bought a new position in Elevance Health in the 4th quarter valued at about $31,000. Beaird Harris Wealth Management LLC bought a new position in Elevance Health in the 4th quarter valued at about $32,000. Finally, Register Financial Advisors LLC bought a new position in Elevance Health in the 1st quarter valued at about $32,000. 89.24% of the stock is owned by 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.