Elevance Health (NYSE:ELV) Given New $460.00 Price Target at Guggenheim

Elevance Health (NYSE:ELV) had its target price raised by Guggenheim from $455.00 to $460.00 in a research report released on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages also recently weighed in on ELV. Cantor Fitzgerald raised their price objective on Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research note on Tuesday, July 7th. Raymond James Financial set a $450.00 target price on Elevance Health in a research report on Tuesday, July 7th. Barclays upped their target price on Elevance Health from $457.00 to $469.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 7th. Royal Bank Of Canada lowered their price target on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a report on Thursday, July 16th. Finally, Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $441.71.

Elevance Health Trading Up 2.3%

Elevance Health stock opened at $422.30 on Monday. Elevance Health has a one year low of $274.84 and a one year high of $436.24. The company’s fifty day moving average price is $401.06 and its two-hundred day moving average price is $382.75. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The company has a market capitalization of $91.58 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 2.14 and a beta of 0.70.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $8.84 earnings per share. On average, analysts forecast that Elevance Health will post 27.22 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elevance Health

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Castleview Partners LLC raised its stake in Elevance Health by 5.7% during the third quarter. Castleview Partners LLC now owns 4,972 shares of the company’s stock worth $1,934,000 after acquiring an additional 269 shares in the last quarter. Bullock Wealth Management Group lifted its holdings in shares of Elevance Health by 43.6% during the third quarter. Bullock Wealth Management Group now owns 158 shares of the company’s stock valued at $60,000 after acquiring an additional 48 shares during the period. Riversedge Advisors LLC bought a new position in shares of Elevance Health during the third quarter valued at $438,000. Wedmont Private Capital boosted its stake in shares of Elevance Health by 10.1% in the 3rd quarter. Wedmont Private Capital now owns 3,409 shares of the company’s stock valued at $1,367,000 after purchasing an additional 314 shares in the last quarter. Finally, Intelligence Driven Advisers LLC boosted its stake in shares of Elevance Health by 7.6% in the 3rd quarter. Intelligence Driven Advisers LLC now owns 665 shares of the company’s stock valued at $259,000 after purchasing an additional 47 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a health benefits and services company that provides health insurance, managed care and related healthcare solutions in the United States. Its offerings serve individuals, employers, government-sponsored programs and other organizations across commercial, Medicare and Medicaid markets.

The company operates a portfolio of health plans, including Blue Cross Blue Shield-affiliated plans in several states, as well as government-focused plans marketed under brands such as Wellpoint.