Elevance Health, Inc. (NYSE:ELV) Receives $440.90 Average Price Target from Brokerages

Shares of Elevance Health, Inc. (NYSE:ELV) have received a consensus rating of “Moderate Buy” from the twenty-three analysts that are presently covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $440.9048.

A number of equities analysts have commented on the company. The Goldman Sachs Group restated a “neutral” rating and issued a $395.00 target price on shares of Elevance Health in a research note on Thursday, July 16th. Raymond James Financial set a $450.00 price objective on Elevance Health in a research report on Tuesday, July 7th. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. Guggenheim raised their target price on Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a research note on Thursday, July 16th. Finally, Evercore reissued a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th.

Elevance Health Stock Performance

ELV stock opened at $417.13 on Friday. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm has a market cap of $90.46 billion, a P/E ratio of 18.54, a P/E/G ratio of 2.21 and a beta of 0.69. Elevance Health has a 12-month low of $274.84 and a 12-month high of $436.24. The stock’s 50 day simple moving average is $397.37 and its 200 day simple moving average is $368.28.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The firm had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the previous year, the firm earned $8.84 earnings per share. The firm’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts predict that Elevance Health will post 27.18 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a $1.72 dividend. The ex-dividend date is Thursday, September 10th. This represents a $6.88 annualized dividend and a yield of 1.6%. Elevance Health’s dividend payout ratio (DPR) is currently 30.58%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Elevance Health in the second quarter valued at about $2,086,000. Stoneridge Investment Partners LLC acquired a new position in shares of Elevance Health during the 2nd quarter worth about $970,000. State of Wyoming bought a new stake in Elevance Health during the 2nd quarter valued at approximately $1,765,000. Mawer Investment Management Ltd. boosted its stake in Elevance Health by 10.9% during the 4th quarter. Mawer Investment Management Ltd. now owns 207,095 shares of the company’s stock valued at $72,597,000 after purchasing an additional 20,438 shares during the period. Finally, Elevation Point Wealth Partners LLC acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $1,267,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Company Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.