Elevance Health (NYSE:ELV) Price Target Lowered to $478.00 at Wells Fargo & Company

Elevance Health (NYSE:ELV) had its price objective dropped by equities researchers at Wells Fargo & Company from $483.00 to $478.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would suggest a potential upside of 16.26% from the stock’s current price.

A number of other brokerages have also recently weighed in on ELV. Cantor Fitzgerald restated an “overweight” rating and issued a $485.00 price target on shares of Elevance Health in a research report on Friday. Morgan Stanley dropped their price objective on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating for the company in a research note on Wednesday, October 23rd. Truist Financial lowered their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Argus cut Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Finally, Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $524.47.

Elevance Health Stock Performance

NYSE ELV opened at $411.14 on Tuesday. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $386.21 and its two-hundred day moving average is $461.36. The stock has a market capitalization of $95.35 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.11 and a beta of 0.84. Elevance Health has a 12-month low of $362.21 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Research analysts expect that Elevance Health will post 32.95 EPS for the current year.

Institutional Trading of Elevance Health

Large investors have recently added to or reduced their stakes in the stock. Raelipskie Partnership purchased a new stake in shares of Elevance Health in the third quarter worth about $26,000. PSI Advisors LLC purchased a new position in Elevance Health in the 3rd quarter worth approximately $27,000. Eastern Bank acquired a new stake in Elevance Health in the third quarter valued at approximately $31,000. Crews Bank & Trust acquired a new position in shares of Elevance Health during the fourth quarter worth $34,000. Finally, Dunhill Financial LLC boosted its stake in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 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.