Elevance Health (NYSE:ELV – Free Report) had its price target raised by JPMorgan Chase & Co. from $628.00 to $631.00 in a research note released on Thursday, Benzinga reports. They currently have an overweight rating on the stock.
A number of other analysts have also recently commented on ELV. Jefferies Financial Group boosted their price target on Elevance Health from $602.00 to $604.00 and gave the stock a buy rating in a research report on Friday, April 19th. Mizuho boosted their price target on Elevance Health from $575.00 to $585.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Royal Bank of Canada boosted their price target on Elevance Health from $574.00 to $575.00 and gave the stock an outperform rating in a research report on Friday, April 19th. Truist Financial reissued a buy rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Finally, Barclays boosted their price target on Elevance Health from $584.00 to $621.00 and gave the stock an overweight rating in a research report on Friday, April 19th. One investment analyst has rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Buy and a consensus price target of $598.23.
View Our Latest Stock Analysis on Elevance Health
Elevance Health Trading Up 0.4 %
NYSE:ELV traded up $2.03 during mid-day trading on Thursday, reaching $507.55. 1,016,074 shares of the company’s stock traded hands, compared to its average volume of 1,022,537. The company has a 50 day moving average price of $523.78 and a 200-day moving average price of $499.38. 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 firm has a market capitalization of $117.96 billion, a price-to-earnings ratio of 19.23, a PEG ratio of 1.15 and a beta of 0.79. Elevance Health has a 12-month low of $412.00 and a 12-month high of $550.34.
Elevance Health (NYSE:ELV – Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, beating the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. The business’s revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $9.46 EPS. On average, sell-side analysts predict that Elevance Health will post 37.26 earnings per share for the current year.
Elevance Health Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.28%. Elevance Health’s dividend payout ratio is presently 24.64%.
Insider Buying and Selling at Elevance Health
In other Elevance Health news, EVP Felicia F. Norwood sold 14,111 shares of the business’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 completion of the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.35% of the company’s stock.
Institutional Investors Weigh In On Elevance Health
Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of Elevance Health in the 4th quarter worth $1,347,434,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Elevance Health in the 4th quarter worth $467,141,000. Canoe Financial LP increased its stake in shares of Elevance Health by 158.1% in the 4th quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock worth $398,054,000 after purchasing an additional 517,116 shares in the last quarter. Morningstar Investment Services LLC purchased a new stake in shares of Elevance Health in the 4th quarter worth $239,244,000. Finally, Focused Investors Fund L P purchased a new stake in shares of Elevance Health in the 1st quarter worth $249,884,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.
About Elevance Health
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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