Elevance Health (NYSE:ELV) Price Target Cut to $317.00 by Analysts at Robert W. Baird

Elevance Health (NYSE:ELV) had its price objective reduced by investment analysts at Robert W. Baird from $340.00 to $317.00 in a note issued to investors on Wednesday,MarketScreener reports. The firm presently has a “neutral” rating on the stock. Robert W. Baird’s price target would indicate a potential upside of 1.99% from the stock’s current price.

A number of other analysts have also recently commented on ELV. Evercore assumed coverage on shares of Elevance Health in a research report on Wednesday, April 8th. They set a “hold” rating and a $345.00 price target on the stock. Weiss Ratings lowered Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. upped their target price on Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Jefferies Financial Group decreased their target price on Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Finally, Royal Bank Of Canada lowered Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target on the stock. in a research note on Tuesday, February 3rd. Twelve research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $383.57.

Elevance Health Stock Performance

Shares of ELV stock opened at $310.83 on Wednesday. The stock has a market capitalization of $68.28 billion, a PE ratio of 12.45, a PEG ratio of 1.72 and a beta of 0.49. The business’s 50 day simple moving average is $309.65 and its 200 day simple moving average is $331.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54. Elevance Health has a one year low of $273.71 and a one year high of $441.39.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) 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 the consensus estimate of $49.52 billion. During the same quarter in the previous year, the company earned $3.84 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, research analysts forecast that Elevance Health will post 33.96 earnings per share for the current year.

Institutional Investors Weigh In On Elevance Health

A number of hedge funds have recently added to or reduced their stakes in the company. Norges Bank acquired a new position in shares of Elevance Health during the fourth quarter worth approximately $1,058,165,000. Wellington Management Group LLP grew its position in Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD grew its position in Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after purchasing an additional 1,607,274 shares during the period. Invesco Ltd. increased its stake in Elevance Health by 50.3% during the 4th quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock valued at $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% during the fourth quarter. Bank of New York Mellon Corp now owns 2,408,704 shares of the company’s stock worth $844,371,000 after buying an additional 1,065,065 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

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.