Elevance Health (NYSE:ELV) Price Target Increased to $585.00 by Analysts at Mizuho

Elevance Health (NYSE:ELV) had its target price raised by Mizuho from $575.00 to $585.00 in a report released on Wednesday morning, Benzinga reports. Mizuho currently has a buy rating on the stock.

Other research analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an overweight rating in a report on Friday, April 19th. UBS Group boosted their price target on shares of Elevance Health from $585.00 to $605.00 and gave the stock a buy rating in a report on Friday, April 19th. Wells Fargo & Company boosted their price target on shares of Elevance Health from $557.00 to $600.00 and gave the stock an overweight rating in a report on Friday, April 19th. StockNews.com cut shares of Elevance Health from a strong-buy rating to a buy rating in a report on Thursday, January 25th. Finally, Truist Financial restated a buy rating and set a $600.00 price target (up from $580.00) on shares of Elevance Health in a report on Friday, April 19th. One analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $587.42.

Elevance Health Stock Down 0.4 %

Shares of NYSE ELV opened at $537.26 on Wednesday. The stock has a market capitalization of $124.87 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.18 and a beta of 0.78. The company has a 50-day moving average price of $511.89 and a 200-day moving average price of $486.40. Elevance Health has a 1 year low of $412.00 and a 1 year high of $542.07. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion during the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’s revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $9.46 earnings per share. On average, equities research analysts forecast that Elevance Health will post 37.24 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. The ex-dividend date is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 24.64%.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the sale, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

Hedge funds and other institutional investors have recently bought and sold shares of the company. abrdn plc increased its holdings in Elevance Health by 86.8% during the 4th quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after acquiring an additional 129,364 shares during the period. Cerity Partners LLC increased its holdings in shares of Elevance Health by 21.3% in the 4th quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after buying an additional 9,199 shares during the last quarter. Wetzel Investment Advisors Inc. bought a new position in shares of Elevance Health in the 4th quarter worth $218,000. Chicago Capital LLC increased its holdings in shares of Elevance Health by 244.2% in the 4th quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock worth $3,314,000 after buying an additional 4,986 shares during the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in shares of Elevance Health in the 4th quarter worth $2,235,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.