Brokerages Set Elevance Health, Inc. (NYSE:ELV) Price Target at $611.36

Elevance Health, Inc. (NYSE:ELVGet Free Report) has earned an average recommendation of “Buy” from the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $611.36.

ELV has been the subject of several recent research reports. Mizuho boosted their target price on shares of Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Baird R W upgraded shares of Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. Jefferies Financial Group upped their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a research report on Wednesday, June 12th. Finally, Stephens reiterated an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a research report on Tuesday, June 11th.

View Our Latest Stock Analysis on Elevance Health

Insider Activity at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction on 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 sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Elevance Health

A number of hedge funds have recently bought and sold shares of ELV. Bank & Trust Co bought a new position in Elevance Health during the second quarter valued at $27,000. Pin Oak Investment Advisors Inc. bought a new position in Elevance Health during the fourth quarter valued at $28,000. Palisade Asset Management LLC bought a new position in Elevance Health during the first quarter valued at $28,000. Alaska Permanent Fund Corp bought a new position in Elevance Health during the fourth quarter valued at $31,000. Finally, Beaird Harris Wealth Management LLC bought a new position in Elevance Health during the fourth quarter valued at $32,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Stock Performance

Shares of ELV stock opened at $529.24 on Wednesday. The company has a 50 day moving average price of $533.94 and a 200-day moving average price of $512.12. Elevance Health has a 52 week low of $412.00 and a 52 week high of $550.34. The firm has a market capitalization of $123.00 billion, a PE ratio of 20.00, a P/E/G ratio of 1.17 and a beta of 0.84. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same period in the previous year, the business posted $9.46 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, equities research analysts expect that Elevance Health will post 37.25 earnings per share for the current year.

Elevance Health Dividend Announcement

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

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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