Elevance Health (NYSE:ELV) Price Target Raised to $460.00

Elevance Health (NYSE:ELV) had its target price raised by Guggenheim from $455.00 to $460.00 in a research note issued to investors on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Robert W. Baird upped their price objective on shares of Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. The Goldman Sachs Group restated a “neutral” rating and issued a $395.00 price target on shares of Elevance Health in a research note on Thursday, July 16th. Barclays raised their price objective on Elevance Health from $457.00 to $469.00 and gave the company an “overweight” rating in a research report on Wednesday, October 7th. Raymond James Financial set a $450.00 price objective on Elevance Health in a research note on Tuesday, July 7th. Finally, Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $441.71.

Elevance Health Stock Up 0.6%

Shares of Elevance Health stock opened at $427.64 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The company has a 50-day moving average of $402.74 and a 200 day moving average of $384.60. The firm has a market cap of $92.74 billion, a price-to-earnings ratio of 19.01, a PEG ratio of 2.21 and a beta of 0.70. Elevance Health has a 1 year low of $274.84 and a 1 year high of $436.24.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The company had revenue of $49.83 billion during the quarter, compared to analysts’ expectations of $48.88 billion. During the same period last year, the company posted $8.84 EPS. Elevance Health’s revenue was up .8% on a year-over-year basis. As a group, sell-side analysts anticipate that Elevance Health will post 27.22 earnings per share for the current fiscal year.

Institutional Trading of Elevance Health

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. bought a new stake in shares of Elevance Health during the second quarter valued at approximately $2,086,000. Stoneridge Investment Partners LLC purchased a new position in shares of Elevance Health in the second quarter worth $970,000. State Street Corp boosted its position in shares of Elevance Health by 1.3% during the second quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after acquiring an additional 137,914 shares during the last quarter. State of Wyoming bought a new position in shares of Elevance Health during the second quarter worth $1,765,000. Finally, Nykredit A S purchased a new position in Elevance Health during the second quarter valued at $29,794,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a health benefits and services company that provides health insurance, managed care and related healthcare solutions in the United States. Its offerings serve individuals, employers, government-sponsored programs and other organizations across commercial, Medicare and Medicaid markets.

The company operates a portfolio of health plans, including Blue Cross Blue Shield-affiliated plans in several states, as well as government-focused plans marketed under brands such as Wellpoint.