Elevance Health (NYSE:ELV) PT Raised to $620.00

Elevance Health (NYSE:ELV) had its price target upped by investment analysts at Truist Financial from $600.00 to $620.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 12.10% from the stock’s previous close.

A number of other equities analysts also recently commented on the stock. Morgan Stanley assumed coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective for the company. Bank of America lifted their price objective on shares of Elevance Health from $621.00 to $646.00 and gave the company a “buy” rating in a research note on Tuesday, June 4th. Royal Bank of Canada lifted their price objective on shares of Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Wells Fargo & Company lifted their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Finally, Robert W. Baird began coverage on shares of Elevance Health in a research note on Thursday, May 30th. They set an “outperform” rating and a $649.00 price objective on the stock. Fifteen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Elevance Health currently has an average rating of “Buy” and an average price target of $612.79.

Elevance Health Trading Up 4.2 %

NYSE ELV opened at $553.08 on Monday. Elevance Health has a one year low of $431.38 and a one year high of $555.35. The company’s 50 day moving average price is $534.84 and its 200 day moving average price is $514.58. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The firm has a market capitalization of $128.55 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 1.18 and a beta of 0.84.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $42.49 billion. During the same quarter last year, the firm posted $9.46 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts predict that Elevance Health will post 37.25 EPS for the current year.

Insider Activity at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elevance Health

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank & Trust Co acquired a new position in shares of Elevance Health during the second quarter worth approximately $27,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Elevance Health in the fourth quarter valued at $28,000. Palisade Asset Management LLC acquired a new position in shares of Elevance Health in the first quarter valued at $28,000. Opal Wealth Advisors LLC acquired a new position in shares of Elevance Health in the second quarter valued at $28,000. Finally, Alaska Permanent Fund Corp bought a new stake in Elevance Health in the fourth quarter valued at $31,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

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.