Elevance Health, Inc. (NYSE:ELV) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Elevance Health, Inc. (NYSE:ELV) have been assigned an average rating of “Moderate Buy” from the twenty-three ratings firms that are currently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $440.9048.

A number of brokerages have commented on ELV. JPMorgan Chase & Co. lifted their target price on Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research note on Monday, June 8th. Bank of America boosted their price objective on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Weiss Ratings restated a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. Barclays dropped their target price on Elevance Health from $480.00 to $457.00 and set an “overweight” rating on the stock in a research report on Thursday, July 16th. Finally, Wall Street Zen cut Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th.

Elevance Health Trading Up 0.4%

NYSE ELV opened at $414.39 on Friday. The company has a market capitalization of $89.87 billion, a price-to-earnings ratio of 18.42, a price-to-earnings-growth ratio of 2.15 and a beta of 0.69. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. Elevance Health has a 12 month low of $274.84 and a 12 month high of $436.24. The company’s fifty day moving average price is $397.20 and its two-hundred day moving average price is $369.58.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion during the quarter, compared to analyst estimates of $48.88 billion. During the same period in the previous year, the company earned $8.84 earnings per share. Elevance Health’s quarterly revenue was up .8% on a year-over-year basis. As a group, research analysts predict that Elevance Health will post 27.18 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio (DPR) is 30.58%.

Institutional Investors Weigh In On Elevance Health

A number of hedge funds have recently made changes to their positions in the business. Kilter Group LLC acquired a new stake in Elevance Health in the 2nd quarter valued at approximately $28,000. WealthCollab LLC boosted its position in Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the period. Elevation Wealth Partners LLC grew its stake in shares of Elevance Health by 600.0% in the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares in the last quarter. Tacita Capital Inc bought a new position in shares of Elevance Health in the second quarter worth $44,000. Finally, Danske Bank A S acquired a new position in shares of Elevance Health during the second quarter valued at $44,000. Institutional investors own 89.24% of the company’s stock.

Elevance Health Company Profile

Elevance Health, Inc is a health benefits and services company that provides health insurance, care management and related healthcare solutions in the United States. The company serves individuals, employers and government-sponsored programs through a portfolio that includes commercial health plans, Medicare Advantage and other Medicare products, Medicaid plans, and specialty coverage.

Elevance Health operates a portfolio of Blue Cross Blue Shield-affiliated health plans and offers products such as medical, pharmacy, dental and vision benefits.