Elevance Health, Inc. (NYSE:ELV) Receives $440.90 Consensus Price Target from Analysts

Shares of Elevance Health, Inc. (NYSE:ELV) have been assigned an average recommendation of “Moderate Buy” from the twenty-three brokerages that are covering the company, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $440.9048.

A number of equities research analysts have recently issued reports on ELV shares. TD Cowen upped their target price on shares of Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Royal Bank Of Canada lowered their price target on shares of Elevance Health from $439.00 to $424.00 and set a “sector perform” rating on the stock in a research report on Thursday, July 16th. Leerink Partners upped their price objective on shares of Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research note on Friday, July 17th. Cantor Fitzgerald increased their price objective 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. Finally, Evercore reissued a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th.

Elevance Health Price Performance

NYSE:ELV opened at $377.39 on Thursday. 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 50 day moving average price of $398.69 and a 200-day moving average price of $356.52. Elevance Health has a 1-year low of $273.71 and a 1-year high of $436.24. The firm has a market cap of $81.84 billion, a price-to-earnings ratio of 16.77, a price-to-earnings-growth ratio of 2.17 and a beta of 0.67.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same period in the prior year, the company posted $8.84 EPS. The company’s revenue for the quarter was up .8% on a year-over-year basis. Equities research analysts forecast that Elevance Health will post 27.04 EPS for the current year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is presently 30.58%.

Insider Activity at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.34% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Kemnay Advisory Services Inc. purchased a new stake in Elevance Health during the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp purchased a new position in Elevance Health in the 4th quarter valued at approximately $32,000. WealthCollab LLC grew its stake in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares in the last quarter. Elevation Wealth Partners LLC grew its stake in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares in the last quarter. Finally, ORG Partners LLC increased its position in shares of Elevance Health by 120.4% during the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after acquiring an additional 59 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

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.