Elevance Health (NYSE:ELV) PT Raised to $621.00

Elevance Health (NYSE:ELV) had its price target increased by Barclays from $584.00 to $621.00 in a report released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts have also recently commented on ELV. Cantor Fitzgerald reiterated an overweight rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. Wells Fargo & Company decreased their target price on shares of Elevance Health from $561.00 to $557.00 and set an overweight rating for the company in a report on Monday, April 8th. StockNews.com cut shares of Elevance Health from a strong-buy rating to a buy rating in a report on Thursday, January 25th. Jefferies Financial Group raised their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a buy rating in a report on Friday. Finally, Royal Bank of Canada raised their price target on shares of Elevance Health from $572.00 to $574.00 and gave the stock an outperform rating in a report on Thursday, January 25th. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus price target of $587.64.

Elevance Health Stock Performance

Shares of ELV opened at $532.17 on Friday. The firm’s 50 day moving average is $509.68 and its 200-day moving average is $484.51. The stock has a market capitalization of $123.69 billion, a P/E ratio of 20.11, a P/E/G ratio of 1.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health has a 12-month low of $412.00 and a 12-month high of $539.11.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the previous year, the company posted $9.46 EPS. The business’s revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that Elevance Health will post 37.24 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Institutional Trading of Elevance Health

A number of institutional investors have recently added to or reduced their stakes in ELV. Sanders Capital LLC raised its position in shares of Elevance Health by 4.6% in the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock valued at $2,102,208,000 after purchasing an additional 196,010 shares during the period. Capital International Investors raised its position in shares of Elevance Health by 7.9% in the fourth quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock valued at $1,591,237,000 after purchasing an additional 248,150 shares during the period. Baillie Gifford & Co. raised its position in shares of Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock valued at $1,456,132,000 after purchasing an additional 27,986 shares during the period. Norges Bank bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $1,347,434,000. Finally, Morgan Stanley raised its position in shares of Elevance Health by 1.7% in the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock valued at $1,212,521,000 after purchasing an additional 46,322 shares during the period. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Company Profile

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.