Elevance Health (NYSE:ELV) PT Raised to $575.00 at Royal Bank of Canada

Elevance Health (NYSE:ELV) had its price objective increased by Royal Bank of Canada from $574.00 to $575.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would indicate a potential upside of 7.51% from the company’s current price.

Several other analysts also recently commented on ELV. Truist Financial reissued a “buy” rating and issued a $600.00 price objective (up from $580.00) on shares of Elevance Health in a research note on Friday. Jefferies Financial Group increased their price objective on Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company increased their price objective on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research note on Friday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $580.00 price target on shares of Elevance Health in a research report on Wednesday, April 10th. Finally, Barclays increased their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday. One analyst has rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $583.77.

Elevance Health Stock Up 1.8 %

NYSE:ELV traded up $9.63 on Friday, hitting $534.82. The stock had a trading volume of 704,904 shares, compared to its average volume of 1,048,978. The business’s fifty day moving average is $508.63 and its 200 day moving average is $482.59. The company has a market cap of $124.45 billion, a PE ratio of 21.25, a P/E/G ratio of 1.12 and a beta of 0.78. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. Elevance Health has a 52 week low of $412.00 and a 52 week high of $539.11.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $10.54 by $0.10. The business had revenue of $42.27 billion for the quarter, compared to analyst estimates 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 quarter in the prior year, the company earned $9.46 earnings per share. On average, equities research analysts expect that Elevance Health will post 37.03 EPS for the current fiscal year.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now directly 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 SEC, which is accessible through this hyperlink. Insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

A number of hedge funds have recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its position in shares of Elevance Health by 1.5% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 843,480 shares of the company’s stock worth $437,378,000 after purchasing an additional 12,352 shares in the last quarter. MBM Wealth Consultants LLC boosted its position in shares of Elevance Health by 5.4% in the 1st quarter. MBM Wealth Consultants LLC now owns 763 shares of the company’s stock worth $396,000 after purchasing an additional 39 shares in the last quarter. Buffington Mohr McNeal boosted its position in shares of Elevance Health by 21.0% in the 1st quarter. Buffington Mohr McNeal now owns 9,219 shares of the company’s stock worth $4,780,000 after purchasing an additional 1,601 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock worth $129,000 after purchasing an additional 20 shares in the last quarter. Finally, Woodmont Investment Counsel LLC bought a new stake in shares of Elevance Health in the 1st quarter worth approximately $278,000. 89.24% of the stock is owned by institutional investors.

About Elevance Health

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.