Elevance Health (NYSE:ELV) Price Target Cut to $552.00

Elevance Health (NYSE:ELV) had its price target reduced by research analysts at JPMorgan Chase & Co. from $569.00 to $552.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 19.24% from the company’s previous close.

A number of other equities research analysts have also issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $572.00 target price on shares of Elevance Health in a research note on Thursday, July 20th. TD Cowen lifted their target price on shares of Elevance Health from $564.00 to $585.00 and gave the company an “outperform” rating in a research note on Monday, July 24th. Morgan Stanley lifted their target price on shares of Elevance Health from $585.00 to $587.00 and gave the company an “overweight” rating in a research note on Thursday, October 19th. Stephens reissued an “overweight” rating and set a $555.00 target price on shares of Elevance Health in a research note on Thursday, July 20th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $547.00 target price on shares of Elevance Health in a research note on Thursday, October 19th. Two research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $565.82.

Elevance Health Trading Down 0.1 %

NYSE ELV opened at $462.95 on Friday. Elevance Health has a twelve month low of $412.00 and a twelve month high of $544.01. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.41 and a current ratio of 1.41. The stock has a market cap of $108.77 billion, a price-to-earnings ratio of 18.18, a PEG ratio of 1.15 and a beta of 0.84. The firm’s 50 day moving average price is $450.86 and its two-hundred day moving average price is $453.64.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, October 18th. The company reported $8.99 earnings per share for the quarter, topping the consensus estimate of $8.45 by $0.54. Elevance Health had a net margin of 3.61% and a return on equity of 20.71%. The firm had revenue of $42.48 billion for the quarter, compared to analysts’ expectations of $42.69 billion. During the same period in the previous year, the company posted $7.53 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. Equities analysts anticipate that Elevance Health will post 33.07 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Ronald W. Penczek sold 64 shares of the business’s stock in a transaction dated Tuesday, October 24th. The shares were sold at an average price of $454.35, for a total transaction of $29,078.40. Following the transaction, the chief accounting officer now owns 2,842 shares in the company, valued at approximately $1,291,262.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. HF Advisory Group LLC increased its holdings in shares of Elevance Health by 1.1% during the 2nd quarter. HF Advisory Group LLC now owns 1,857 shares of the company’s stock worth $825,000 after purchasing an additional 21 shares during the period. ProVise Management Group LLC increased its holdings in shares of Elevance Health by 0.6% during the 2nd quarter. ProVise Management Group LLC now owns 3,856 shares of the company’s stock worth $1,713,000 after purchasing an additional 22 shares during the period. Clearstead Advisors LLC increased its holdings in shares of Elevance Health by 0.9% during the 3rd quarter. Clearstead Advisors LLC now owns 2,516 shares of the company’s stock worth $1,096,000 after purchasing an additional 22 shares during the period. Financial Counselors Inc. increased its stake in Elevance Health by 1.0% in the third quarter. Financial Counselors Inc. now owns 2,284 shares of the company’s stock valued at $994,000 after acquiring an additional 22 shares during the period. Finally, Roundview Capital LLC increased its stake in Elevance Health by 1.2% in the first quarter. Roundview Capital LLC now owns 1,916 shares of the company’s stock valued at $881,000 after acquiring an additional 23 shares during the period. Institutional investors own 87.80% of the company’s stock.

Elevance Health Company Profile

Elevance Health, Inc operates as a health benefits company. The company operates through four segments: Commercial & Specialty Business, Government Business, CarelonRx, and Other. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives.