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

Shares of Elevance Health, Inc. (NYSE:ELV) have earned an average recommendation of “Moderate Buy” from the twenty-three ratings firms that are presently covering the company, Marketbeat.com reports. Eight research analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $440.9048.

A number of equities research analysts have recently weighed in on the stock. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a report on Thursday, July 16th. Morgan Stanley lifted their price target on Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a research report on Thursday, June 4th. Weiss Ratings reiterated a “hold (c)” rating on shares of Elevance Health in a research note on Thursday, August 13th. Bank of America increased their price objective on Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a report on Thursday, June 4th. Finally, Royal Bank Of Canada reduced their price objective on Elevance Health from $439.00 to $424.00 and set a “sector perform” rating for the company in a research note on Thursday, July 16th.

Insider Transactions at Elevance Health

In other Elevance Health 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 transaction 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 SEC, which can be accessed through this link. Corporate insiders own 0.34% of the company’s stock.

Institutional Trading of Elevance Health

A number of hedge funds and other institutional investors have recently made changes to their positions in ELV. Field & Main Bank increased its holdings in shares of Elevance Health by 1.3% in the second quarter. Field & Main Bank now owns 1,883 shares of the company’s stock worth $728,000 after acquiring an additional 25 shares in the last quarter. Tranquilli Financial Advisor LLC raised its position in shares of Elevance Health by 1.3% during the second quarter. Tranquilli Financial Advisor LLC now owns 2,081 shares of the company’s stock worth $805,000 after purchasing an additional 26 shares during the period. WealthCollab LLC lifted its holdings 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 in the last quarter. Signet Financial Management LLC lifted its holdings in shares of Elevance Health by 3.5% during the 1st quarter. Signet Financial Management LLC now owns 837 shares of the company’s stock valued at $245,000 after purchasing an additional 28 shares in the last quarter. Finally, Sapient Capital LLC grew its position in shares of Elevance Health by 1.2% in the 1st quarter. Sapient Capital LLC now owns 2,612 shares of the company’s stock valued at $765,000 after purchasing an additional 31 shares during the period. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Up 0.0%

ELV stock opened at $400.66 on Monday. The stock has a market capitalization of $86.89 billion, a PE ratio of 17.81, a price-to-earnings-growth ratio of 2.29 and a beta of 0.68. Elevance Health has a 52 week low of $274.84 and a 52 week high of $436.24. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The firm has a 50 day moving average of $394.76 and a 200 day moving average of $360.04.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. The business had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. Elevance Health’s revenue for the quarter was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $8.84 EPS. Sell-side analysts forecast that Elevance Health will post 27.18 earnings per share for the current year.

Elevance Health Announces Dividend

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 issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is 30.58%.

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.