Truist Financial Lowers Elevance Health (NYSE:ELV) Price Target to $375.00

Elevance Health (NYSE:ELV) had its target price dropped by equities research analysts at Truist Financial from $390.00 to $375.00 in a research note issued to investors on Monday,MarketScreener reports. The firm currently has a “buy” rating on the stock. Truist Financial’s price target would suggest a potential upside of 21.18% from the company’s current price.

A number of other brokerages also recently commented on ELV. Jefferies Financial Group reduced their target price on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. UBS Group set a $400.00 target price on shares of Elevance Health in a report on Thursday, January 29th. Guggenheim dropped their price objective on Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Mizuho decreased their price objective on Elevance Health from $413.00 to $350.00 and set an “outperform” rating for the company in a report on Wednesday, March 11th. Finally, Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, February 8th. Twelve analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Elevance Health presently has a consensus rating of “Hold” and a consensus price target of $384.67.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $309.45 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70. Elevance Health has a 12 month low of $273.71 and a 12 month high of $443.29. The company has a 50 day simple moving average of $311.25 and a two-hundred day simple moving average of $332.13. The stock has a market cap of $67.97 billion, a price-to-earnings ratio of 12.30, a PEG ratio of 1.71 and a beta of 0.49.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. During the same quarter in the prior year, the business earned $3.84 earnings per share. The business’s quarterly revenue was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, analysts predict that Elevance Health will post 33.96 earnings per share for the current year.

Institutional Trading of Elevance Health

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Elevance Health during the fourth quarter worth about $1,058,165,000. Wellington Management Group LLP grew its holdings in shares of Elevance Health by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after purchasing an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of Elevance Health by 27.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after purchasing an additional 1,607,274 shares during the period. Invesco Ltd. increased its position in Elevance Health by 50.3% during the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock worth $1,368,505,000 after purchasing an additional 1,306,390 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Elevance Health by 79.3% in the fourth quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock valued at $844,371,000 after buying an additional 1,065,065 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 (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.