Mizuho Cuts Elevance Health (NYSE:ELV) Price Target to $350.00

Elevance Health (NYSE:ELV) had its target price reduced by Mizuho from $413.00 to $350.00 in a report issued on Wednesday,Benzinga reports. Mizuho currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the stock. Wolfe Research set a $425.00 target price on shares of Elevance Health and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Royal Bank Of Canada lowered Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 price target for the company. in a research report on Tuesday, February 3rd. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Sanford C. Bernstein lowered their target price on Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a research note on Friday, January 30th. Finally, Weiss Ratings downgraded shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, February 2nd. Twelve research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $387.40.

Elevance Health Price Performance

NYSE:ELV opened at $291.69 on Wednesday. The firm has a market cap of $64.38 billion, a P/E ratio of 11.61, a price-to-earnings-growth ratio of 1.59 and a beta of 0.51. The stock has a 50 day moving average of $338.25 and a two-hundred day moving average of $334.11. Elevance Health has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. During the same period in the previous year, the company posted $3.84 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, analysts expect that Elevance Health will post 33.96 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Tuesday, March 10th will be paid a $1.72 dividend. The ex-dividend date of this dividend is Tuesday, March 10th. This represents a $6.88 annualized dividend and a yield of 2.4%. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio is presently 27.39%.

Institutional Trading of Elevance Health

Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Elevance Health by 0.6% during the third quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company’s stock worth $7,431,322,000 after purchasing an additional 141,747 shares in the last quarter. Wellington Management Group LLP boosted its holdings in Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in 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 valued at $2,610,261,000 after purchasing an additional 1,607,274 shares in the last quarter. Sanders Capital LLC increased its position in Elevance Health by 24.7% during the 2nd quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock worth $2,265,773,000 after purchasing an additional 1,152,440 shares during the period. Finally, Artisan Partners Limited Partnership raised its stake in shares of Elevance Health by 10.0% during the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after buying an additional 455,946 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Company Profile

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.