Elevance Health (NYSE:ELV - Get Free Report) was downgraded by StockNews.com from a "buy" rating to a "hold" rating in a research note issued on Friday.
Other equities research analysts have also issued research reports about the company. Stephens lowered Elevance Health from an "overweight" rating to an "equal weight" rating and reduced their price objective for the stock from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Argus restated a "hold" rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a report on Tuesday, January 28th. Barclays boosted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday, January 24th. Finally, Truist Financial dropped their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Elevance Health has a consensus rating of "Moderate Buy" and a consensus target price of $517.03.
Check Out Our Latest Stock Analysis on Elevance Health
Elevance Health Price Performance
NYSE ELV traded up $0.83 during trading on Friday, hitting $385.93. 306,110 shares of the company's stock were exchanged, compared to its average volume of 1,583,096. The stock's 50 day moving average price is $385.25 and its two-hundred day moving average price is $443.22. Elevance Health has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The company has a market cap of $87.74 billion, a PE ratio of 15.08, a P/E/G ratio of 1.18 and a beta of 0.83.
Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Research analysts expect that Elevance Health will post 33.96 EPS for the current year.
Institutional Inflows and Outflows
Several hedge funds have recently made changes to their positions in the business. Norges Bank bought a new stake in Elevance Health in the fourth quarter worth approximately $1,135,014,000. Wellington Management Group LLP boosted its stake in Elevance Health by 42.5% during the fourth quarter. Wellington Management Group LLP now owns 6,355,532 shares of the company's stock worth $2,344,556,000 after acquiring an additional 1,893,947 shares in the last quarter. First Eagle Investment Management LLC increased its stake in Elevance Health by 47.6% in the fourth quarter. First Eagle Investment Management LLC now owns 3,225,339 shares of the company's stock valued at $1,189,828,000 after purchasing an additional 1,039,612 shares in the last quarter. Orion Portfolio Solutions LLC grew its stake in shares of Elevance Health by 6,817.8% in the 4th quarter. Orion Portfolio Solutions LLC now owns 908,795 shares of the company's stock valued at $335,254,000 after buying an additional 895,658 shares during the period. Finally, D1 Capital Partners L.P. acquired a new position in Elevance Health during the 4th quarter worth approximately $294,751,000. 89.24% of the stock is owned by institutional investors.
Elevance Health Company Profile
(
Get Free Report)
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.
Further Reading
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