Elevance Health (NYSE:ELV) Stock Rating Lowered by Wall Street Zen

Elevance Health (NYSE:ELV) was downgraded by analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

Other research analysts also recently issued research reports about the stock. TD Cowen reiterated a “buy” rating on shares of Elevance Health in a research report on Wednesday, November 26th. Wolfe Research set a $425.00 price objective on shares of Elevance Health and gave the company an “outperform” rating in a report on Thursday, January 8th. Jefferies Financial Group reduced their target price on Elevance Health from $401.00 to $395.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Wells Fargo & Company dropped their price target on Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Finally, Morgan Stanley cut their price target on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Twelve investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average target price of $390.55.

Elevance Health Stock Down 3.7%

Shares of NYSE:ELV opened at $326.44 on Friday. Elevance Health has a 1 year low of $273.71 and a 1 year high of $458.75. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.56. The business’s 50-day moving average is $351.97 and its 200-day moving average is $331.02. The company has a market capitalization of $72.55 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.89 and a beta of 0.50.

Elevance Health (NYSE:ELV) last issued its earnings results 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 business had revenue of $49.31 billion during the quarter, compared to the consensus estimate of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm’s revenue for the quarter was up 9.6% on a year-over-year basis. During the same period in the previous year, the company posted $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Equities research analysts predict that Elevance Health will post 33.96 earnings per share for the current year.

Institutional Investors Weigh In On Elevance Health

Several institutional investors have recently bought and sold shares of ELV. Syverson Strege & Co boosted its holdings in Elevance Health by 9.4% during the 4th quarter. Syverson Strege & Co now owns 734 shares of the company’s stock worth $257,000 after acquiring an additional 63 shares during the last quarter. Unison Asset Management LLC lifted its position in shares of Elevance Health by 7.0% during the fourth quarter. Unison Asset Management LLC now owns 27,745 shares of the company’s stock valued at $9,704,000 after purchasing an additional 1,824 shares in the last quarter. Kestra Investment Management LLC purchased a new position in Elevance Health during the fourth quarter worth about $363,000. Harbour Investments Inc. grew its position in Elevance Health by 67.9% in the 4th quarter. Harbour Investments Inc. now owns 2,819 shares of the company’s stock worth $988,000 after purchasing an additional 1,140 shares in the last quarter. Finally, Allstate Corp increased its stake in Elevance Health by 100.6% in the 4th quarter. Allstate Corp now owns 16,837 shares of the company’s stock valued at $5,902,000 after buying an additional 8,445 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

About Elevance Health

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.