Elevance Health (NYSE:ELV) Price Target Raised to $621.00 at Barclays

Elevance Health (NYSE:ELV) had its price objective raised by stock analysts at Barclays from $584.00 to $621.00 in a report released on Friday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective indicates a potential upside of 18.24% from the company’s current price.

Several other research analysts have also recently issued reports on ELV. Wells Fargo & Company decreased their target price on shares of Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a report on Monday, April 8th. Jefferies Financial Group boosted their price objective on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday. Royal Bank of Canada increased their target price on Elevance Health from $572.00 to $574.00 and gave the company an “outperform” rating in a research note on Thursday, January 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. Finally, StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $575.00.

Elevance Health Price Performance

Shares of ELV opened at $525.19 on Friday. The firm’s 50-day simple moving average is $508.63 and its two-hundred day simple moving average is $482.59. Elevance Health has a fifty-two week low of $412.00 and a fifty-two week high of $539.11. The stock has a market cap of $122.21 billion, a PE ratio of 20.87, a price-to-earnings-growth ratio of 1.12 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The firm had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm posted $9.46 earnings per share. Analysts anticipate that Elevance Health will post 37.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Ramiro G. Peru sold 753 shares of the company’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

Several large investors have recently added to or reduced their stakes in the business. Fortis Capital Advisors LLC purchased a new position in shares of Elevance Health during the 4th quarter worth $29,000. TD Capital Management LLC purchased a new stake in shares of Elevance Health in the 4th quarter worth $30,000. Pin Oak Investment Advisors Inc. bought a new position in Elevance Health in the 4th quarter worth $28,000. OFI Invest Asset Management purchased a new position in Elevance Health during the third quarter valued at $25,000. Finally, Register Financial Advisors LLC bought a new stake in Elevance Health during the first quarter valued at about $32,000. 89.24% of the stock is currently owned by institutional investors.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.