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

Shares of Elevance Health, Inc. (NYSE:ELV) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-three analysts that are covering the stock, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $440.9048.

ELV has been the subject of a number of analyst reports. Royal Bank Of Canada reduced their price target on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research report on Thursday, July 16th. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. Guggenheim upped their price objective on shares of Elevance Health from $399.00 to $455.00 and gave the stock a “buy” rating in a report on Thursday, July 16th. Cantor Fitzgerald increased their target price on shares of Elevance Health from $400.00 to $450.00 and gave the company an “overweight” rating in a research report on Tuesday, July 7th. Finally, Truist Financial raised their target price on shares of Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a research note on Tuesday, July 14th.

Institutional Investors Weigh In On Elevance Health

Institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of Elevance Health by 37,390.0% in the 2nd quarter. California State Teachers Retirement System now owns 124,019,670 shares of the company’s stock worth $47,962,127,000 after buying an additional 123,688,863 shares in the last quarter. BlackRock Inc. bought a new position in Elevance Health during the second quarter valued at about $7,344,424,000. Wellington Management Group LLP grew its holdings in Elevance Health by 12.0% during the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock worth $3,563,142,000 after acquiring an additional 984,976 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of 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 worth $2,610,261,000 after purchasing an additional 1,607,274 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after purchasing an additional 455,946 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

NYSE ELV opened at $418.42 on Friday. Elevance Health has a 52 week low of $274.84 and a 52 week high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market cap of $90.74 billion, a price-to-earnings ratio of 18.60, a price-to-earnings-growth ratio of 2.18 and a beta of 0.69. The company has a 50-day moving average price of $397.07 and a two-hundred day moving average price of $366.98.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data 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 return on equity of 14.64% and a net margin of 2.47%.The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same period in the previous year, the firm posted $8.84 earnings per share. The business’s revenue was up .8% on a year-over-year basis. Analysts forecast that Elevance Health will post 27.18 EPS for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is currently 30.58%.

Elevance Health Company Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.