Elevance Health (NYSE:ELV) Stock Rating Lowered by Stephens

Elevance Health (NYSE:ELV) was downgraded by investment analysts at Stephens from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday,Briefing.com Automated Import reports. They currently have a $440.00 price target on the stock, down from their prior price target of $520.00. Stephens’ price objective points to a potential upside of 12.98% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Mizuho reduced their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. UBS Group lowered their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a research report on Friday, October 18th. TD Cowen decreased their price target on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Finally, StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research note on Friday, January 17th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $524.87.

Elevance Health Stock Up 1.1 %

Shares of Elevance Health stock opened at $389.45 on Wednesday. Elevance Health has a 12-month low of $362.21 and a 12-month high of $567.26. 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 company’s fifty day simple moving average is $387.20 and its two-hundred day simple moving average is $465.15. The company has a market cap of $90.32 billion, a P/E ratio of 14.20, a PEG ratio of 1.09 and a beta of 0.84.

Institutional Trading of Elevance Health

Several large investors have recently modified their holdings of ELV. Cypress Wealth Services LLC grew its stake in shares of Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after purchasing an additional 23 shares during the period. Atomi Financial Group Inc. increased its holdings in Elevance Health by 4.2% during the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock valued at $320,000 after buying an additional 25 shares during the last quarter. Lifeworks Advisors LLC boosted its stake in shares of Elevance Health by 2.5% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after acquiring an additional 25 shares during the last quarter. Catalyst Financial Partners LLC grew its position in shares of Elevance Health by 2.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after acquiring an additional 26 shares during the period. Finally, Fullcircle Wealth LLC increased its stake in shares of Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock worth $906,000 after purchasing an additional 26 shares in the last quarter. Institutional investors 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.