Elevance Health (NYSE:ELV) Price Target Raised to $476.00

Elevance Health (NYSE:ELV) had its price target lifted by investment analysts at JPMorgan Chase & Co. from $411.00 to $476.00 in a report released on Monday,MarketScreener reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 14.24% from the company’s current price.

ELV has been the topic of several other reports. Mizuho boosted their target price on Elevance Health from $385.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, May 20th. Truist Financial boosted their price objective on Elevance Health from $375.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. The Goldman Sachs Group upped their target price on Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Jefferies Financial Group reduced their price target on Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Finally, Evercore reissued a “hold” rating on shares of Elevance Health in a research report on Tuesday, May 19th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $416.11.

Elevance Health Price Performance

Shares of NYSE ELV traded up $1.15 during mid-day trading on Monday, reaching $416.68. The company’s stock had a trading volume of 65,705 shares, compared to its average volume of 1,813,020. The stock has a 50-day moving average of $354.74 and a two-hundred day moving average of $341.84. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $90.49 billion, a P/E ratio of 17.73, a P/E/G ratio of 2.35 and a beta of 0.67. Elevance Health has a 1-year low of $273.71 and a 1-year high of $416.56.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same period in the previous year, the business posted $11.97 earnings per share. Elevance Health’s quarterly revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. On average, equities research analysts anticipate that Elevance Health will post 26.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Elevance Health

Several institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in Elevance Health in the fourth quarter valued at $1,058,165,000. Wellington Management Group LLP raised its position 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 stake in shares of 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 buying an additional 1,607,274 shares during the period. Amundi boosted its stake in shares of Elevance Health by 145.7% in the 1st quarter. Amundi now owns 2,693,664 shares of the company’s stock valued at $788,570,000 after buying an additional 1,597,497 shares during the period. Finally, Invesco Ltd. grew its position in shares of Elevance Health by 50.3% during the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock worth $1,368,505,000 after buying an additional 1,306,390 shares in the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

About Elevance Health

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.