Elevance Health (ELV) Scheduled to Post Quarterly Earnings on Wednesday

Elevance Health (NYSE:ELV – Get Rating) is scheduled to be announcing its earnings results before the market opens on Wednesday, January 25th. Analysts expect the company to announce earnings of $5.21 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Elevance Health Price Performance

Shares of ELV traded up $0.58 during midday trading on Tuesday, hitting $478.52. 1,253,627 shares of the company traded hands, compared to its average volume of 1,248,215. The firm has a 50 day moving average of $502.07 and a 200-day moving average of $492.16. Elevance Health has a 52 week low of $420.73 and a 52 week high of $549.52. The stock has a market cap of $114.85 billion, a price-to-earnings ratio of 18.77, a PEG ratio of 1.22 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.35 and a current ratio of 1.35.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. EP Wealth Advisors LLC acquired a new position in Elevance Health during the first quarter valued at approximately $783,000. Capital World Investors acquired a new position in shares of Elevance Health during the first quarter worth $190,648,000. Gabelli Funds LLC lifted its position in shares of Elevance Health by 1.5% during the first quarter. Gabelli Funds LLC now owns 34,500 shares of the company’s stock worth $16,947,000 after purchasing an additional 500 shares in the last quarter. Wealthfront Advisers LLC lifted its position in shares of Elevance Health by 38.3% during the first quarter. Wealthfront Advisers LLC now owns 19,268 shares of the company’s stock worth $9,465,000 after purchasing an additional 5,340 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC acquired a new position in shares of Elevance Health during the first quarter worth $1,228,000. 87.66% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on ELV. StockNews.com began coverage on shares of Elevance Health in a research report on Wednesday, October 12th. They set a “strong-buy” rating on the stock. Morgan Stanley raised their target price on shares of Elevance Health from $485.00 to $500.00 and gave the company an “equal weight” rating in a research note on Friday, October 21st. Wells Fargo & Company lifted their price objective on shares of Elevance Health from $557.00 to $609.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 4th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Elevance Health from $576.00 to $581.00 and gave the stock a “buy” rating in a report on Friday, October 21st. Finally, UBS Group lifted their price objective on shares of Elevance Health from $585.00 to $610.00 in a report on Monday, October 24th. One investment analyst has rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $578.89.

About Elevance Health

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Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. The firm supports consumers, families, and communities across the entire care journey, connecting them to the care, support, and resources they need to lead healthier lives.