Elevance Health (NYSE:ELV) Trading Down 7.7% – Here’s Why

Elevance Health, Inc. (NYSE:ELV)’s stock price dropped 7.7% during mid-day trading on Monday . The stock traded as low as $298.70 and last traded at $295.4680. Approximately 1,126,467 shares traded hands during mid-day trading, a decline of 33% from the average daily volume of 1,688,521 shares. The stock had previously closed at $320.00.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ELV shares. Barclays cut their target price on Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Jefferies Financial Group dropped their price objective on shares of Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Wells Fargo & Company reduced their price objective on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Truist Financial lowered their target price on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a report on Monday, February 2nd. Finally, Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, February 8th. Twelve analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $390.55.

Elevance Health Price Performance

The company has a market capitalization of $64.89 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 1.77 and a beta of 0.50. The business’s 50-day moving average is $350.23 and its two-hundred day moving average is $335.99. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, beating the consensus estimate of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm had revenue of $49.31 billion during the quarter, compared to analyst estimates of $49.52 billion. During the same quarter last year, the business posted $3.84 EPS. The company’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, analysts predict that Elevance Health, Inc. will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be issued a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 2.3%. This is an increase from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date is Tuesday, March 10th. Elevance Health’s dividend payout ratio is 27.39%.

Institutional Investors Weigh In On Elevance Health

Large investors have recently made changes to their positions in the business. Vermillion & White Wealth Management Group LLC grew its position in Elevance Health by 94.9% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 76 shares of the company’s stock valued at $30,000 after buying an additional 37 shares during the period. BOK Financial Private Wealth Inc. purchased a new position in Elevance Health in the second quarter valued at about $32,000. Physician Wealth Advisors Inc. grew its position in shares of Elevance Health by 331.6% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock valued at $26,000 after acquiring an additional 63 shares during the period. Rossby Financial LCC increased its stake in shares of Elevance Health by 110.0% during the 3rd quarter. Rossby Financial LCC now owns 84 shares of the company’s stock worth $28,000 after purchasing an additional 44 shares during the last quarter. Finally, Activest Wealth Management increased its stake in shares of Elevance Health by 66.7% during the 3rd quarter. Activest Wealth Management now owns 85 shares of the company’s stock worth $27,000 after purchasing an additional 34 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

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.