Elevance Health (NYSE:ELV) Price Target Raised to $393.00

Elevance Health (NYSE:ELV) had its price objective raised by Robert W. Baird from $331.00 to $393.00 in a research note released on Thursday, MarketBeat Ratings reports. Robert W. Baird currently has a neutral rating on the stock.

Several other analysts have also commented on ELV. Wall Street Zen lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Sunday, July 12th. Wells Fargo & Company increased their target price on shares of Elevance Health from $391.00 to $492.00 and gave the company an “overweight” rating in a research report on Monday, July 13th. Morgan Stanley raised their price target on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research note on Thursday, June 4th. Leerink Partners set a $364.00 price target on shares of Elevance Health in a report on Thursday, April 23rd. Finally, Royal Bank Of Canada upped their price objective on Elevance Health from $358.00 to $439.00 and gave the company a “sector perform” rating in a research note on Thursday, July 9th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Stock Down 0.0%

Shares of NYSE:ELV opened at $372.68 on Thursday. Elevance Health has a 1 year low of $273.71 and a 1 year high of $436.24. The company has a market capitalization of $80.82 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 2.10 and a beta of 0.67. The business has a fifty day moving average price of $399.55 and a two-hundred day moving average price of $355.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.48.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping analysts’ consensus estimates of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analysts’ expectations of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The business’s revenue for the quarter was up .8% compared to the same quarter last year. During the same period in the previous year, the business posted $8.84 EPS. Analysts forecast that Elevance Health will post 27.08 earnings per share for the current year.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is presently 30.58%.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This trade represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Several institutional investors have recently made changes to their positions in the stock. WealthCollab LLC raised its stake in shares of Elevance Health by 42.2% during 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 period. Kemnay Advisory Services Inc. bought a new position in Elevance Health in the 4th quarter worth about $31,000. J.Safra Asset Management Corp bought a new position in Elevance Health in the 4th quarter worth about $32,000. ORG Partners LLC grew its holdings in Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after buying an additional 59 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of Elevance Health during the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Trending Headlines about Elevance Health

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

Elevance Health Company Profile

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.