Elevance Health (NYSE:ELV) Given New $460.00 Price Target at Bank of America

Elevance Health (NYSE:ELV) had its target price boosted by Bank of America from $435.00 to $460.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “buy” rating on the stock. Bank of America‘s target price indicates a potential upside of 12.56% from the company’s previous close.

A number of other brokerages also recently issued reports on ELV. UBS Group upped their price target on Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Barclays upped their price target on Elevance Health from $408.00 to $480.00 and gave the company an “overweight” rating in a report on Tuesday, May 26th. Jefferies Financial Group lowered their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating for the company in a report on Monday, April 20th. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Finally, Truist Financial upped their price target on Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a report on Monday. Fourteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average price target of $411.11.

Elevance Health Stock Up 4.4%

Shares of Elevance Health stock traded up $17.40 on Thursday, reaching $408.67. 723,514 shares of the company were exchanged, compared to its average volume of 1,823,318. Elevance Health has a 1-year low of $273.71 and a 1-year high of $410.81. The company has a market cap of $88.75 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 2.20 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The stock’s 50 day moving average price is $349.95 and its 200-day moving average price is $340.65.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The business’s revenue for the quarter was up 1.5% on a year-over-year basis. During the same period in the previous year, the company posted $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities analysts forecast that Elevance Health will post 26.94 EPS for the current year.

Institutional Investors Weigh In On Elevance Health

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Physician Wealth Advisors Inc. lifted its stake in Elevance Health by 331.6% in the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock valued at $26,000 after buying an additional 63 shares during the last quarter. Rossby Financial LCC lifted its stake in Elevance Health by 110.0% in the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after buying an additional 44 shares during the last quarter. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health in the fourth quarter valued at approximately $31,000. J.Safra Asset Management Corp purchased a new stake in Elevance Health in the fourth quarter valued at approximately $32,000. Finally, WealthCollab LLC raised its stake in shares of Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.