Elevance Health, Inc. (ELV) – What Are Researchers Thinking About This Stock?

Elevance Health, Inc. (NYSE:ELV) has been given a consensus rating of “Moderate Buy” by the twenty-three research firms that are presently covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $441.71.

ELV has been the topic of a number of recent analyst reports. Robert W. Baird lifted their price target on shares of Elevance Health from $331.00 to $393.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Wells Fargo & Company dropped their price objective on Elevance Health from $492.00 to $473.00 and set an “overweight” rating on the stock in a research note on Thursday, July 16th. Wall Street Zen downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. TD Cowen lifted their target price on Elevance Health from $400.00 to $465.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Finally, Leerink Partners boosted their target price on Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research note on Friday, July 17th.

Elevance Health Stock Performance

Shares of ELV stock opened at $422.30 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market cap of $91.58 billion, a PE ratio of 18.77, a price-to-earnings-growth ratio of 2.14 and a beta of 0.70. The stock has a 50-day moving average of $401.06 and a 200-day moving average of $382.75. Elevance Health has a one year low of $274.84 and a one year high of $436.24.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, topping the consensus estimate 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 quarterly revenue was up .8% compared to the same quarter last year. During the same quarter last year, the firm earned $8.84 EPS. As a group, sell-side analysts expect that Elevance Health will post 27.22 earnings per share for the current year.

Hedge Funds Weigh In On Elevance Health

Several institutional investors have recently modified their holdings of ELV. BlackRock Inc. bought a new stake in shares of Elevance Health during the 2nd quarter valued at $7,344,424,000. Bank of New York Mellon Corp acquired a new stake in shares of Elevance Health during the 2nd quarter worth $1,246,349,000. Legal & General Group Plc bought a new position in shares of Elevance Health in the second quarter worth $688,469,000. Amundi increased its position in shares of Elevance Health by 145.7% in the first quarter. Amundi now owns 2,693,664 shares of the company’s stock worth $788,570,000 after purchasing an additional 1,597,497 shares during the period. Finally, The Manufacturers Life Insurance Company bought a new position in shares of Elevance Health in the second quarter worth $591,084,000. Institutional investors own 89.24% of the company’s stock.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a health benefits and services company that provides health insurance, managed care and related healthcare solutions in the United States. Its offerings serve individuals, employers, government-sponsored programs and other organizations across commercial, Medicare and Medicaid markets.

The company operates a portfolio of health plans, including Blue Cross Blue Shield-affiliated plans in several states, as well as government-focused plans marketed under brands such as Wellpoint.