Elevance Health, Inc. (NYSE:ELV) Stock Has Consensus Price Target of $440.90 According to Brokerages

Shares of Elevance Health, Inc. (NYSE:ELV) have been given an average recommendation of “Moderate Buy” by the twenty-three brokerages that are covering the firm, Marketbeat Ratings reports. Eight equities research analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $441.48.

Several equities analysts have recently commented on the stock. Barclays upped their price objective on shares of Elevance Health from $457.00 to $469.00 and gave the stock an “overweight” rating in a report on Wednesday. Leerink Partners lifted their target price on shares of Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a report on Friday, July 17th. Guggenheim boosted their target price on Elevance Health from $399.00 to $455.00 and gave the company a “buy” rating in a research report on Thursday, July 16th. Sanford C. Bernstein set a $488.00 price target on Elevance Health in a research note on Thursday, July 16th. Finally, Truist Financial raised their price target on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a research report on Tuesday, July 14th.

Institutional Trading of Elevance Health

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. purchased a new position in Elevance Health in the second quarter valued at $7,344,424,000. Bank of New York Mellon Corp purchased a new stake in Elevance Health during the 2nd quarter worth about $1,246,349,000. Legal & General Group Plc acquired a new stake in Elevance Health in the 2nd quarter valued at about $688,469,000. Amundi raised its position in Elevance Health by 145.7% in the 1st quarter. Amundi now owns 2,693,664 shares of the company’s stock valued at $788,570,000 after purchasing an additional 1,597,497 shares in the last quarter. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Elevance Health in the 2nd quarter valued at about $591,084,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Stock Down 0.9%

Shares of NYSE:ELV opened at $400.80 on Tuesday. The business has a 50-day moving average price of $399.53 and a 200 day moving average price of $380.95. 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 company has a market capitalization of $86.92 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.10 and a beta of 0.70. Elevance Health has a 12-month low of $274.84 and a 12-month high of $436.24.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. Elevance Health’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $8.84 earnings per share. Sell-side analysts expect that Elevance Health will post 27.21 EPS for the current year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 25th. Investors of record on Thursday, September 10th were issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 30.58%.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a health benefits and services company that provides health insurance, managed care and related healthcare solutions in the United States. Its offerings serve individuals, employers, government-sponsored programs and other organizations across commercial, Medicare and Medicaid markets.

The company operates a portfolio of health plans, including Blue Cross Blue Shield-affiliated plans in several states, as well as government-focused plans marketed under brands such as Wellpoint.