Investment Analysts’ Weekly Ratings Updates for Elevance Health (ELV)

A number of firms have modified their ratings and price targets on shares of Elevance Health (NYSE: ELV) recently:

• 10/23/2024 – Elevance Health had its price target lowered by analysts at Morgan Stanley from $643.00 to $551.00. They now have an “overweight” rating on the stock.
• 10/22/2024 – Elevance Health had its price target lowered by analysts at Barclays PLC from $622.00 to $501.00. They now have an “overweight” rating on the stock.
• 10/21/2024 – Elevance Health had its price target lowered by analysts at TD Cowen from $589.00 to $484.00. They now have a “buy” rating on the stock.
• 10/18/2024 – Elevance Health was given a new $485.00 price target on by analysts at Raymond James.
• 10/18/2024 – Elevance Health had its “underperform” rating reaffirmed by analysts at Stephens.
• 10/18/2024 – Elevance Health had its “buy” rating reaffirmed by analysts at Wells Fargo & Company.
• 10/18/2024 – Elevance Health had its price target lowered by analysts at Cantor Fitzgerald from $600.00 to $485.00. They now have an “overweight” rating on the stock.
• 10/18/2024 – Elevance Health had its price target lowered by analysts at Royal Bank of Canada from $585.00 to $478.00. They now have an “outperform” rating on the stock.
• 10/18/2024 – Elevance Health was downgraded by analysts at Argus from a “buy” rating to a “hold” rating.
• 10/18/2024 – Elevance Health had its price target lowered by analysts at UBS Group AG from $605.00 to $555.00. They now have a “buy” rating on the stock.
• 10/18/2024 – Elevance Health had its “buy” rating reaffirmed by analysts at Truist Financial Co.. They now have a $520.00 price target on the stock, down previously from $620.00.
• 10/10/2024 – Elevance Health had its price target raised by analysts at Barclays PLC from $611.00 to $622.00. They now have an “overweight” rating on the stock.
• 10/1/2024 – Elevance Health had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $600.00 price target on the stock.
• 9/20/2024 – Elevance Health had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $600.00 price target on the stock.
• 9/10/2024 – Elevance Health had its “overweight” rating reaffirmed by analysts at Cantor Fitzgerald. They now have a $600.00 price target on the stock.
• 9/5/2024 – Elevance Health had its “overweight” rating reaffirmed by analysts at Stephens. They now have a $615.00 price target on the stock.

Elevance Health Stock Up 0.8 %

NYSE:ELV traded up $3.21 during midday trading on Thursday, hitting $418.75. 2,352,139 shares of the company were exchanged, compared to its average volume of 1,099,533. Elevance Health, Inc. has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The company has a market capitalization of $97.33 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The company has a fifty day simple moving average of $519.97 and a 200 day simple moving average of $525.88.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter last year, the firm posted $8.99 EPS. As a group, equities analysts anticipate that Elevance Health, Inc. will post 37.26 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s payout ratio is currently 24.64%.

Insider Transactions at Elevance Health

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares in the company, valued at $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

Hedge funds have recently made changes to their positions in the company. Pathway Financial Advisers LLC raised its stake in shares of Elevance Health by 51,967.1% during the 3rd quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after buying an additional 656,344 shares in the last quarter. International Assets Investment Management LLC raised its position in Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock worth $276,972,000 after acquiring an additional 532,016 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in Elevance Health by 34.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after acquiring an additional 523,910 shares in the last quarter. M&G Plc acquired a new stake in Elevance Health in the first quarter valued at $203,389,000. Finally, Maj Invest Holding A S acquired a new position in shares of Elevance Health during the 2nd quarter worth $173,753,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

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.