Mizuho Boosts Elevance Health (NYSE:ELV) Price Target to $585.00

Elevance Health (NYSE:ELV) had its price objective upped by investment analysts at Mizuho from $575.00 to $585.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Mizuho’s price objective indicates a potential upside of 8.39% from the company’s previous close.

Several other research analysts have also recently issued reports on the stock. Wells Fargo & Company raised their target price on shares of Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. StockNews.com cut shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Barclays raised their target price on shares of Elevance Health from $584.00 to $621.00 and gave the stock an “overweight” rating in a report on Friday, April 19th. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. Finally, Jefferies Financial Group lifted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Elevance Health has an average rating of “Moderate Buy” and an average target price of $587.42.

Elevance Health Trading Up 1.1 %

ELV stock opened at $539.70 on Wednesday. The company has a market capitalization of $125.44 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. Elevance Health has a one year low of $412.00 and a one year high of $542.07. The company’s 50 day moving average price is $511.40 and its two-hundred day moving average price is $485.81. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELV) last issued its earnings results 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. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion for the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter last year, the business earned $9.46 earnings per share. The business’s revenue was up .9% on a year-over-year basis. As a group, analysts predict that Elevance Health will post 37.25 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction 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 sale, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Felicia F. Norwood sold 14,111 shares of Elevance Health stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total value of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several large investors have recently modified their holdings of ELV. OFI Invest Asset Management purchased a new position in shares of Elevance Health in the 3rd quarter worth about $25,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Elevance Health in the 4th quarter worth about $28,000. Alaska Permanent Fund Corp purchased a new position in shares of Elevance Health in the 4th quarter worth about $31,000. Beaird Harris Wealth Management LLC purchased a new position in Elevance Health in the 4th quarter worth about $32,000. Finally, Register Financial Advisors LLC purchased a new position in Elevance Health in the 1st quarter worth about $32,000. Hedge funds and other 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.