Brokerages Set Elevance Health, Inc. (NYSE:ELV) Price Target at $569.00

Elevance Health, Inc. (NYSE:ELV) has received a consensus rating of “Moderate Buy” from the twelve analysts that are currently covering the company, MarketBeat.com reports. One analyst has rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average 12 month price target among analysts that have issued a report on the stock in the last year is $587.64.

Several research analysts have weighed in on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research note on Wednesday, April 10th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Barclays lifted their target price on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group lifted their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research note on Friday. Finally, Royal Bank of Canada lifted their target price on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday.

Elevance Health Trading Up 1.2 %

ELV opened at $531.42 on Friday. The firm has a market cap of $123.66 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 1.16 and a beta of 0.78. Elevance Health has a 52 week low of $412.00 and a 52 week high of $539.11. The business’s 50 day moving average is $509.14 and its two-hundred day moving average is $483.89. The company has a quick ratio of 1.44, a current ratio of 1.37 and a debt-to-equity ratio of 0.54.

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

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.23%. Elevance Health’s payout ratio is 24.64%.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now directly owns 9,109 shares in the company, valued at $4,554,500. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elevance Health

A number of institutional investors have recently made changes to their positions in ELV. Roundview Capital LLC raised its holdings 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 acquiring an additional 52 shares during the last quarter. Moors & Cabot Inc. acquired a new position in Elevance Health in the first quarter valued at $251,000. Baird Financial Group Inc. increased its stake in Elevance Health by 0.4% in 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. increased its stake in Elevance Health by 52.1% in the first quarter. Zions Bancorporation N.A. now owns 893 shares of the company’s stock valued at $439,000 after purchasing an additional 306 shares during the last quarter. Finally, Brown Brothers Harriman & Co. increased its stake in Elevance Health by 102.9% in the first quarter. Brown Brothers Harriman & Co. now owns 846 shares of the company’s stock valued at $416,000 after purchasing an additional 429 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, 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.