Truist Financial Forecasts Strong Price Appreciation for Elevance Health (NYSE:ELV) Stock

Elevance Health (NYSE:ELV) had its price target lifted by investment analysts at Truist Financial from $450.00 to $475.00 in a report issued on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price would indicate a potential upside of 11.26% from the stock’s previous close.

A number of other research firms have also recently weighed in on ELV. Cantor Fitzgerald raised their price target on shares of Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a report on Tuesday, July 7th. Leerink Partners set a $364.00 price objective on shares of Elevance Health in a research note on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and increased their target price for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Evercore restated a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. Finally, Guggenheim lifted their price target on shares of Elevance Health from $396.00 to $399.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $431.95.

Elevance Health Trading Up 0.4%

Shares of NYSE ELV opened at $426.93 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $92.71 billion, a P/E ratio of 18.25, a price-to-earnings-growth ratio of 2.36 and a beta of 0.67. Elevance Health has a 1-year low of $273.71 and a 1-year high of $427.64. The business has a fifty day moving average price of $398.14 and a 200 day moving average price of $354.13.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The company had revenue of $49.49 billion for the quarter, compared to the consensus estimate of $48.21 billion. During the same quarter last year, the company earned $11.97 earnings per share. The firm’s revenue for the quarter was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts expect that Elevance Health will post 26.86 EPS for the current fiscal year.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Murphy Middleton Hinkle & Parker Inc. acquired a new position in Elevance Health in the 4th quarter worth approximately $5,941,000. Bright Rock Capital Management LLC acquired a new stake in Elevance Health during the 4th quarter valued at approximately $7,362,000. Prana Capital Management LP lifted its stake in Elevance Health by 798.9% during the 3rd quarter. Prana Capital Management LP now owns 51,633 shares of the company’s stock valued at $16,684,000 after acquiring an additional 45,889 shares during the period. CIBC Bancorp USA Inc. purchased a new stake in shares of Elevance Health in the 3rd quarter valued at $10,047,000. Finally, Loews Corp increased its stake in shares of Elevance Health by 107.5% in the third quarter. Loews Corp now owns 110,000 shares of the company’s stock worth $35,543,000 after acquiring an additional 57,000 shares during the period. Hedge funds and other institutional investors own 89.24% of the company’s stock.

About Elevance Health

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.