Elevance Health (NYSE:ELV) Upgraded at Argus

Elevance Health (NYSE:ELV - Get Free Report) was upgraded by research analysts at Argus from a "hold" rating to a "buy" rating in a research report issued to clients and investors on Monday, Marketbeat reports. The firm currently has a $450.00 price target on the stock. Argus' price target would suggest a potential upside of 5.32% from the stock's previous close.

A number of other research analysts also recently commented on ELV. Wells Fargo & Company lowered their price objective on Elevance Health from $483.00 to $478.00 and set an "overweight" rating for the company in a research note on Tuesday, January 28th. Cantor Fitzgerald restated an "overweight" rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. StockNews.com cut shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Wednesday, March 12th. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Finally, Stephens cut Elevance Health from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $519.81.

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Elevance Health Stock Performance

ELV stock traded down $7.01 during trading on Monday, hitting $427.27. 3,034,683 shares of the company's stock traded hands, compared to its average volume of 1,315,675. The stock has a market capitalization of $97.14 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.18 and a beta of 0.86. Elevance Health has a 52 week low of $362.21 and a 52 week high of $567.26. The stock has a fifty day moving average price of $399.60 and a two-hundred day moving average price of $427.17. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71.

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 for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. As a group, equities analysts anticipate that Elevance Health will post 33.96 EPS for the current fiscal year.

Insider Activity at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the firm's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the sale, the executive vice president now owns 10,116 shares of the company's stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Raelipskie Partnership purchased a new stake in shares of Elevance Health during the third quarter worth $26,000. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $25,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $26,000. Dunhill Financial LLC increased its holdings in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after buying an additional 26 shares during the last quarter. Finally, WealthTrak Capital Management LLC bought a new position in Elevance Health during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 89.24% of the company's stock.

About Elevance Health

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.