Investment analysts at Guggenheim started coverage on shares of Elevance Health (NYSE:ELV - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $518.00 price target on the stock. Guggenheim's target price points to a potential upside of 18.17% from the company's current price.
Several other brokerages also recently weighed in on ELV. Sanford C. Bernstein reissued an "outperform" rating on shares of Elevance Health in a research note on Friday, March 28th. StockNews.com raised Elevance Health from a "hold" rating to a "buy" rating in a research report on Thursday, March 20th. Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a "buy" rating for the company in a research report on Monday, January 6th. Argus raised shares of Elevance Health from a "hold" rating to a "buy" rating and set a $450.00 price objective for the company in a research report on Monday, March 17th. Finally, Mizuho raised their target price on shares of Elevance Health from $455.00 to $505.00 and gave the stock an "outperform" rating in a research report on Wednesday, April 9th. Two equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $521.47.
Get Our Latest Analysis on ELV
Elevance Health Price Performance
Elevance Health stock traded down $1.44 during mid-day trading on Wednesday, reaching $438.37. 404,761 shares of the company's stock traded hands, compared to its average volume of 1,438,732. Elevance Health has a 12-month low of $362.21 and a 12-month high of $567.26. The company has a market cap of $99.24 billion, a price-to-earnings ratio of 17.12, a PEG ratio of 1.18 and a beta of 0.77. The stock has a 50 day moving average of $412.93 and a two-hundred day moving average of $412.57. 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 results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities analysts forecast that Elevance Health will post 33.96 earnings per share for the current year.
Insider Transactions at Elevance Health
In related news, CAO Ronald W. Penczek sold 443 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total value of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares of the company's stock, valued at $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now owns 10,116 shares in the company, valued at approximately $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company's stock.
Institutional Investors Weigh In On Elevance Health
A number of institutional investors and hedge funds have recently modified their holdings of the company. Accredited Wealth Management LLC acquired a new stake in Elevance Health during the fourth quarter worth about $25,000. Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health in the fourth quarter valued at approximately $26,000. OFI Invest Asset Management purchased a new stake in shares of Elevance Health during the fourth quarter worth $29,000. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 89.24% of the company's stock.
About Elevance Health
(
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.
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