Elevance Health (NYSE:ELV) PT Raised to $585.00 at Mizuho

Elevance Health (NYSE:ELV) had its target price increased by stock analysts at Mizuho from $575.00 to $585.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Mizuho’s target price would suggest a potential upside of 9.77% from the company’s current price.

Other analysts have also issued research reports about the stock. Jefferies Financial Group increased their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada lifted their price target on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. UBS Group boosted their price target on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a report on Friday, April 19th. Truist Financial reaffirmed a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Finally, Barclays boosted their target price on Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Trading Up 0.1 %

Shares of NYSE:ELV opened at $532.92 on Wednesday. The business’s 50 day simple moving average is $510.23 and its 200 day simple moving average is $485.10. Elevance Health has a 1 year low of $412.00 and a 1 year high of $539.11. 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 company has a market capitalization of $123.86 billion, a P/E ratio of 20.14, a P/E/G ratio of 1.17 and a beta of 0.78.

Elevance Health (NYSE:ELV) last released its earnings results 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. The company had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. Elevance Health had a return on equity of 20.62% and a net margin of 3.64%. Elevance Health’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $9.46 EPS. On average, research analysts anticipate that Elevance Health will post 37.24 EPS for the current fiscal year.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Elevance Health

Several large investors have recently added to or reduced their stakes in ELV. H&H Retirement Design & Management INC acquired a new position in shares of Elevance Health during the first quarter valued at about $773,000. Busey Bank boosted its position in shares of Elevance Health by 1.5% during the first quarter. Busey Bank now owns 1,701 shares of the company’s stock valued at $882,000 after buying an additional 25 shares during the last quarter. Milestone Asset Management LLC lifted its position in shares of Elevance Health by 42.7% during the first quarter. Milestone Asset Management LLC now owns 718 shares of the company’s stock valued at $372,000 after purchasing an additional 215 shares in the last quarter. Global Retirement Partners LLC boosted its stake in shares of Elevance Health by 5.9% in the 1st quarter. Global Retirement Partners LLC now owns 3,510 shares of the company’s stock worth $1,820,000 after buying an additional 197 shares during the last quarter. Finally, Sage Mountain Advisors LLC grew its stake in Elevance Health by 9.2% in the 1st quarter. Sage Mountain Advisors LLC now owns 1,152 shares of the company’s stock valued at $597,000 after purchasing an additional 97 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

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.