Elevance Health (NYSE:ELV) Reaches New 52-Week High – Here’s Why

Elevance Health, Inc. (NYSE:ELV)’s stock price hit a new 52-week high on Thursday . The company traded as high as $427.19 and last traded at $421.7120, with a volume of 250590 shares. The stock had previously closed at $416.19.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Leerink Partners set a $364.00 price objective on Elevance Health in a research note on Thursday, April 23rd. UBS Group lifted their price target on Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research note on Friday, May 22nd. JPMorgan Chase & Co. boosted their price objective on Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a report on Monday, June 8th. Truist Financial raised their target price on shares of Elevance Health from $375.00 to $450.00 and gave the stock a “buy” rating in a report on Monday, June 1st. Finally, Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and lifted their target price for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Fourteen equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $419.16.

Elevance Health Trading Up 0.6%

The company’s 50 day simple moving average is $387.70 and its two-hundred day simple moving average is $350.26. 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 cap of $90.90 billion, a price-to-earnings ratio of 17.83, a price-to-earnings-growth ratio of 2.19 and a beta of 0.67.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.74 by $1.84. The business had revenue of $49.49 billion during the quarter, compared to analyst estimates of $48.21 billion. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.Elevance Health’s quarterly revenue was up 1.5% compared to the same quarter last year. During the same period last year, the company earned $11.97 earnings per share. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Research analysts expect that Elevance Health, Inc. will post 26.86 EPS for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were paid a dividend of $1.72 per share. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. Elevance Health’s dividend payout ratio (DPR) is 29.26%.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kemnay Advisory Services Inc. bought a new stake in Elevance Health in the fourth quarter worth approximately $31,000. J.Safra Asset Management Corp acquired a new stake in shares of Elevance Health in the 4th quarter valued at $32,000. WealthCollab LLC lifted its stake in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the last quarter. ORG Partners LLC boosted its holdings in Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after purchasing an additional 59 shares in the last quarter. Finally, Dorato Capital Management acquired a new position in Elevance Health during the fourth quarter worth $41,000. Institutional investors own 89.24% of the company’s stock.

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.