Elevance Health (NYSE:ELV – Get Free Report) had its target price raised by analysts at TD Cowen from $465.00 to $495.00 in a note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen‘s price target indicates a potential upside of 11.02% from the company’s previous close.
Several other research firms have also recently weighed in on ELV. Truist Financial increased their price target on Elevance Health from $450.00 to $475.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Leerink Partners raised their price target on Elevance Health from $364.00 to $395.00 and gave the stock a “market perform” rating in a research note on Friday, July 17th. Sanford C. Bernstein set a $488.00 target price on Elevance Health in a report on Thursday, July 16th. Barclays raised their target price on Elevance Health from $469.00 to $472.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Royal Bank Of Canada boosted their price target on Elevance Health from $424.00 to $455.00 and gave the company a “sector perform” rating in a research note on Thursday. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $451.71.
Elevance Health Stock Performance
Shares of ELV stock opened at $445.85 on Friday. The company has a quick ratio of 1.52, a current ratio of 1.47 and a debt-to-equity ratio of 0.68. The company has a 50 day moving average price of $407.53 and a 200-day moving average price of $390.54. Elevance Health has a 52 week low of $274.84 and a 52 week high of $450.69. The firm has a market capitalization of $96.69 billion, a PE ratio of 19.82, a P/E/G ratio of 2.12 and a beta of 0.70.
Elevance Health (NYSE:ELV – Get Free Report) last issued its quarterly earnings data on Wednesday, October 21st. The company reported $6.99 earnings per share for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28. The company 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 firm’s revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $6.03 earnings per share. As a group, equities research analysts expect that Elevance Health will post 29.00 earnings per share for the current year.
Institutional Investors Weigh In On Elevance Health
Several hedge funds and other institutional investors have recently modified their holdings of ELV. BlackRock Inc. purchased a new position in Elevance Health during the second quarter valued at $7,344,424,000. State Street Corp increased its position in Elevance Health by 1.3% in the second quarter. State Street Corp now owns 10,426,610 shares of the company’s stock worth $4,032,283,000 after buying an additional 137,914 shares in the last quarter. Wellington Management Group LLP increased its position in Elevance Health by 12.0% in the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company’s stock worth $3,563,142,000 after buying an additional 984,976 shares in the last quarter. First Eagle Investment Management LLC raised its stake in shares of Elevance Health by 1.4% in the second quarter. First Eagle Investment Management LLC now owns 4,188,196 shares of the company’s stock worth $1,619,701,000 after buying an additional 55,905 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in shares of Elevance Health in the second quarter worth about $1,246,349,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.
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.
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