Elevance Health, Inc. (NYSE:ELV) Stock Rated “Moderate Buy” by Wall Street Analysts

Elevance Health, Inc. (NYSE:ELV) has received an average recommendation of “Moderate Buy” from the twenty-three analysts that are covering the stock, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $456.48.

Several brokerages have issued reports on ELV. Mizuho set a $490.00 target price on Elevance Health in a research report on Friday, October 23rd. Robert W. Baird boosted their price target on Elevance Health from $393.00 to $406.00 and gave the stock a “neutral” rating in a research report on Thursday, October 22nd. The Goldman Sachs Group restated a “neutral” rating and set a $451.00 price objective on shares of Elevance Health in a research note on Friday, October 23rd. Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a research report on Thursday, July 16th. Finally, Wells Fargo & Company lifted their target price on Elevance Health from $473.00 to $492.00 and gave the company an “overweight” rating in a research note on Tuesday, October 27th.

Insider Activity

In other news, CFO Mark Kaye sold 10,584 shares of Elevance Health stock in a transaction that occurred on Thursday, October 22nd. The shares were sold at an average price of $440.13, for a total value of $4,658,335.92. Following the transaction, the chief financial officer owned 19,919 shares of the company’s stock, valued at $8,766,949.47. The trade was a 34.70% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.34% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elevance Health

Several institutional investors have recently bought and sold shares of ELV. Activest Wealth Management grew its position in Elevance Health by 146.2% during the third quarter. Activest Wealth Management now owns 64 shares of the company’s stock valued at $25,000 after buying an additional 38 shares during the period. WealthCollab LLC raised its position in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after acquiring an additional 27 shares during the period. Kilter Group LLC purchased a new stake in shares of Elevance Health during the 2nd quarter worth about $28,000. Main Street Group LTD purchased a new stake in shares of Elevance Health during the 1st quarter worth about $39,000. Finally, Elevation Wealth Partners LLC boosted its stake in shares of Elevance Health by 600.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after acquiring an additional 90 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Price Performance

Shares of ELV opened at $434.44 on Friday. The company has a 50 day moving average price of $411.80 and a 200-day moving average price of $373.00. Elevance Health has a fifty-two week low of $274.84 and a fifty-two week high of $450.69. The stock has a market capitalization of $93.86 billion, a PE ratio of 18.53, a PEG ratio of 1.97 and a beta of 0.63. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.47 and a current ratio of 1.47.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. The firm had revenue of $50.44 billion for the quarter, compared to the consensus estimate of $49.28 billion. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The company’s quarterly revenue was up .7% on a year-over-year basis. During the same period last year, the firm earned $6.03 earnings per share. Equities analysts predict that Elevance Health will post 29.18 earnings per share for the current fiscal year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Stockholders of record on Friday, December 4th will be issued a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, December 4th. Elevance Health’s dividend payout ratio (DPR) is currently 29.34%.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.