Barclays Raises Elevance Health (NYSE:ELV) Price Target to $621.00

Elevance Health (NYSE:ELV) had its price objective raised by Barclays from $584.00 to $621.00 in a research note released on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other equities research analysts have also recently issued reports on ELV. Cantor Fitzgerald reissued an overweight rating and issued a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. StockNews.com cut shares of Elevance Health from a strong-buy rating to a buy rating in a research report on Thursday, January 25th. Jefferies Financial Group raised their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a buy rating in a research report on Friday. Royal Bank of Canada raised their target price on shares of Elevance Health from $572.00 to $574.00 and gave the stock an outperform rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company decreased their target price on shares of Elevance Health from $561.00 to $557.00 and set an overweight rating on the stock in a research report on Monday, April 8th. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $587.64.

Elevance Health Stock Performance

Shares of NYSE ELV opened at $531.42 on Friday. The company has a market cap of $123.66 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. Elevance Health has a 12 month low of $412.00 and a 12 month high of $539.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.44. The company has a 50-day simple moving average of $509.14 and a 200-day simple moving average of $483.89.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. The business had revenue of $42.27 billion during the quarter, compared to the consensus estimate of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The company’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $9.46 earnings per share. On average, equities analysts anticipate that Elevance Health will post 37.24 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now owns 9,109 shares in the company, valued at $4,554,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

A number of hedge funds and other institutional investors have recently made changes to their positions in ELV. Roundview Capital LLC increased its stake in shares of Elevance Health by 2.9% in the first quarter. Roundview Capital LLC now owns 1,858 shares of the company’s stock worth $912,000 after buying an additional 52 shares during the last quarter. Moors & Cabot Inc. bought a new stake in Elevance Health during the first quarter valued at $251,000. Baird Financial Group Inc. increased its stake in Elevance Health by 0.4% during the first quarter. Baird Financial Group Inc. now owns 14,870 shares of the company’s stock valued at $7,305,000 after purchasing an additional 57 shares during the last quarter. Zions Bancorporation N.A. boosted its holdings in shares of Elevance Health by 52.1% during the first quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock valued at $439,000 after acquiring an additional 306 shares during the period. Finally, Brown Brothers Harriman & Co. boosted its holdings in shares of Elevance Health by 102.9% during the first quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock valued at $416,000 after acquiring an additional 429 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Company Profile

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.