Elevance Health (NYSE:ELV) PT Raised to $605.00

Elevance Health (NYSE:ELV) had its target price upped by UBS Group from $585.00 to $605.00 in a research note issued to investors on Friday, Benzinga reports. UBS Group currently has a buy rating on the stock.

ELV has been the subject of several other reports. Royal Bank of Canada raised their price target on shares of Elevance Health from $572.00 to $574.00 and gave the stock an outperform rating in a report on Thursday, January 25th. Jefferies Financial Group raised their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a buy rating in a report on Friday. Wells Fargo & Company lifted their target price on shares of Elevance Health from $557.00 to $600.00 and gave the company an overweight rating in a research note on Friday. Barclays lifted their target price on shares of Elevance Health from $584.00 to $621.00 and gave the company an overweight rating in a research note on Friday. Finally, 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. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $587.64.

Elevance Health Stock Up 0.1 %

Elevance Health stock opened at $532.17 on Friday. The stock has a market cap of $123.69 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.16 and a beta of 0.78. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The company’s 50-day moving average price is $509.68 and its two-hundred day moving average price is $484.51. Elevance Health has a 52 week low of $412.00 and a 52 week high of $539.11.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, April 18th. The company reported $10.64 earnings per share (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 analysts’ expectations of $42.49 billion. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business’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 EPS. On average, analysts expect that Elevance Health will post 37.24 EPS for the current fiscal year.

Elevance Health Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Investors of record on Monday, June 10th will be paid 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%.

Insider Transactions at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ELV. abrdn plc increased its position in shares of Elevance Health by 86.8% in the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock worth $131,281,000 after purchasing an additional 129,364 shares during the period. Cerity Partners LLC increased its position in shares of Elevance Health by 21.3% in the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after purchasing an additional 9,199 shares during the period. Wetzel Investment Advisors Inc. bought a new position in Elevance Health in the fourth quarter valued at about $218,000. Chicago Capital LLC grew its position in Elevance Health by 244.2% in the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after acquiring an additional 4,986 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in Elevance Health during the fourth quarter worth about $2,235,000. Institutional investors own 89.24% of the company’s stock.

About Elevance Health

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.