A number of other equities analysts have also recently issued reports on ELV. Deutsche Bank Aktiengesellschaft increased their target price on Elevance Health from $571.00 to $575.00 in a report on Thursday, April 20th. Cantor Fitzgerald began coverage on Elevance Health in a research report on Thursday, April 20th. They set an “overweight” rating and a $547.00 target price for the company. 22nd Century Group reaffirmed an “upgrade” rating on shares of Elevance Health in a research report on Thursday, April 27th. Royal Bank of Canada raised Elevance Health from a “sector perform” rating to an “outperform” rating and lifted their price objective for the stock from $523.00 to $572.00 in a report on Tuesday, March 28th. Finally, JPMorgan Chase & Co. lifted their price objective on Elevance Health from $555.00 to $572.00 and gave the stock an “overweight” rating in a report on Thursday, February 23rd. One research analyst has rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $572.19.
Elevance Health Price Performance
Shares of ELV opened at $459.74 on Thursday. The company has a market cap of $108.99 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.15 and a beta of 0.84. Elevance Health has a 1-year low of $440.02 and a 1-year high of $549.52. The company’s fifty day simple moving average is $465.81 and its 200 day simple moving average is $486.97. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.67.
Elevance Health (NYSE:ELV – Get Rating) last announced its earnings results on Wednesday, April 19th. The company reported $9.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.26 by $0.20. The company had revenue of $41.90 billion during the quarter, compared to analysts’ expectations of $40.93 billion. Elevance Health had a net margin of 3.86% and a return on equity of 20.05%. Elevance Health’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $8.25 earnings per share. On average, research analysts forecast that Elevance Health will post 32.77 earnings per share for the current fiscal year.
Insider Transactions at Elevance Health
In related news, EVP Gloria M. Mccarthy sold 15,098 shares of the company’s stock in a transaction on Friday, March 24th. The shares were sold at an average price of $444.76, for a total transaction of $6,714,986.48. Following the sale, the executive vice president now owns 51,435 shares of the company’s stock, valued at $22,876,230.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.35% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in ELV. Moisand Fitzgerald Tamayo LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at about $25,000. Crewe Advisors LLC acquired a new stake in Elevance Health during the 4th quarter worth $25,000. J.Safra Asset Management Corp acquired a new stake in Elevance Health during the 1st quarter worth $25,000. Hexagon Capital Partners LLC acquired a new stake in Elevance Health during the 4th quarter worth $26,000. Finally, Destiny Wealth Partners LLC acquired a new position in shares of Elevance Health during the 4th quarter valued at about $26,000. 87.66% of the stock is currently owned by institutional investors.
About Elevance Health
Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. It operates through the following segments: Commercial and Specialty Business, Government Business, CarelonRx, and Other. The Commercial and Specialty Business segment provides insurance products and services such as stop loss, dental, vision, life, disability and supplemental health insurance.
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