Elevance Health, Inc. (NYSE:ELV) Short Interest Update

Elevance Health, Inc. (NYSE:ELVGet Free Report) was the recipient of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 1,790,000 shares, a decline of 14.4% from the April 30th total of 2,090,000 shares. Approximately 0.8% of the company’s shares are sold short. Based on an average daily trading volume, of 969,500 shares, the days-to-cover ratio is presently 1.8 days.

Elevance Health Trading Up 0.4 %

ELV opened at $507.55 on Friday. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 0.54. Elevance Health has a 52 week low of $412.00 and a 52 week high of $550.34. The business’s 50 day moving average is $523.64 and its two-hundred day moving average is $499.44. The firm has a market cap of $117.96 billion, a price-to-earnings ratio of 19.18, a price-to-earnings-growth ratio of 1.15 and a beta of 0.79.

Elevance Health (NYSE:ELVGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The company reported $10.64 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $42.49 billion. During the same quarter in the prior year, the business earned $9.46 EPS. Elevance Health’s quarterly revenue was up .9% compared to the same quarter last year. On average, research analysts predict that Elevance Health will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is currently 24.64%.

Insider Activity at Elevance Health

In other Elevance Health news, 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Several large investors have recently modified their holdings of the stock. Palisade Asset Management LLC acquired a new stake in shares of Elevance Health in the 1st quarter worth $28,000. Pin Oak Investment Advisors Inc. acquired a new stake in Elevance Health in the fourth quarter valued at about $28,000. Register Financial Advisors LLC purchased a new stake in Elevance Health in the 1st quarter valued at approximately $32,000. Alaska Permanent Fund Corp acquired a new position in Elevance Health during the 4th quarter worth approximately $31,000. Finally, Beaird Harris Wealth Management LLC purchased a new position in shares of Elevance Health during the 4th quarter worth approximately $32,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on ELV shares. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a research note on Wednesday, April 10th. Wells Fargo & Company boosted their price objective on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Mizuho upped their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research note on Wednesday, April 24th. Royal Bank of Canada lifted their price target on shares of Elevance Health from $574.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, April 19th. Finally, StockNews.com raised shares of Elevance Health from a “buy” rating to a “strong-buy” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $598.23.

Get Our Latest Stock Report on Elevance Health

About Elevance Health

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Elevance Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elevance Health and related companies with MarketBeat.com's FREE daily email newsletter.