Elevance Health (NYSE:ELV) Price Target Cut to $350.00 by Analysts at Mizuho

Elevance Health (NYSE:ELV) had its price objective cut by equities researchers at Mizuho from $413.00 to $350.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Mizuho’s price objective points to a potential upside of 23.15% from the stock’s current price.

Other research analysts have also issued reports about the company. Weiss Ratings lowered Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 2nd. Robert W. Baird increased their target price on Elevance Health from $297.00 to $340.00 and gave the stock a “neutral” rating in a research note on Thursday, December 11th. UBS Group set a $400.00 target price on Elevance Health in a report on Thursday, January 29th. Sanford C. Bernstein dropped their target price on Elevance Health from $431.00 to $409.00 and set an “outperform” rating for the company in a research report on Friday, January 30th. Finally, Wells Fargo & Company cut their price target on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Twelve research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $387.40.

Elevance Health Price Performance

Elevance Health stock opened at $284.21 on Wednesday. The company’s 50 day simple moving average is $341.97 and its 200-day simple moving average is $334.91. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.54. Elevance Health has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a market capitalization of $62.73 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.55 and a beta of 0.51.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, January 28th. The company reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $3.10 by $0.23. The firm had revenue of $49.31 billion during the quarter, compared to analysts’ expectations of $49.52 billion. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter last year, the company posted $3.84 EPS. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, equities research analysts expect that Elevance Health will post 33.96 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ELV. Corient Private Wealth LLC increased its holdings in Elevance Health by 12.2% in the fourth quarter. Corient Private Wealth LLC now owns 67,261 shares of the company’s stock valued at $23,579,000 after buying an additional 7,315 shares during the last quarter. Storen Legacy Partners LLC acquired a new position in shares of Elevance Health during the 4th quarter worth about $207,000. Pure Financial Advisors LLC increased its holdings in shares of Elevance Health by 10.3% in the 4th quarter. Pure Financial Advisors LLC now owns 2,975 shares of the company’s stock valued at $1,043,000 after acquiring an additional 277 shares during the last quarter. Reflection Asset Management acquired a new stake in shares of Elevance Health during the 4th quarter worth about $94,000. Finally, Tobam lifted its stake in Elevance Health by 5.3% during the fourth quarter. Tobam now owns 7,627 shares of the company’s stock worth $2,674,000 after purchasing an additional 383 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

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.