Elevance Health, Inc. (NYSE:ELV) Given Average Rating of “Hold” by Brokerages

Shares of Elevance Health, Inc. (NYSE:ELV) have been given an average recommendation of “Hold” by the twenty-four brokerages that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $396.2105.

ELV has been the subject of a number of analyst reports. Mizuho decreased their price objective on shares of Elevance Health from $420.00 to $400.00 and set an “outperform” rating for the company in a research report on Monday, November 3rd. The Goldman Sachs Group started coverage on Elevance Health in a research note on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 price target for the company. JPMorgan Chase & Co. increased their price target on Elevance Health from $384.00 to $394.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 28th. Wall Street Zen lowered Elevance Health from a “buy” rating to a “hold” rating in a report on Saturday, December 13th. Finally, Zacks Research upgraded Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th.

Institutional Trading of Elevance Health

Institutional investors have recently modified their holdings of the stock. Trexquant Investment LP purchased a new position in Elevance Health in the 1st quarter valued at $764,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Elevance Health by 1.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,359 shares of the company’s stock worth $17,554,000 after buying an additional 544 shares in the last quarter. NewEdge Advisors LLC boosted its position in Elevance Health by 22.2% during the first quarter. NewEdge Advisors LLC now owns 13,912 shares of the company’s stock worth $6,051,000 after acquiring an additional 2,531 shares during the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in Elevance Health by 1.2% during the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 28,846 shares of the company’s stock valued at $12,547,000 after acquiring an additional 356 shares in the last quarter. Finally, PharVision Advisers LLC purchased a new stake in Elevance Health during the 1st quarter valued at about $369,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Trading Up 1.1%

Elevance Health stock opened at $354.30 on Friday. The firm has a market cap of $78.74 billion, a PE ratio of 14.48, a P/E/G ratio of 1.83 and a beta of 0.51. Elevance Health has a 12 month low of $273.71 and a 12 month high of $458.75. The stock’s 50 day simple moving average is $334.36 and its two-hundred day simple moving average is $328.47. The company has a current ratio of 1.56, a quick ratio of 1.56 and a debt-to-equity ratio of 0.71.

Elevance Health (NYSE:ELV) last posted its earnings results on Tuesday, October 21st. The company reported $6.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.03 by $1.00. Elevance Health had a net margin of 2.84% and a return on equity of 16.17%. The firm had revenue of $50.09 billion during the quarter, compared to analysts’ expectations of $49.26 billion. During the same period in the previous year, the business posted $8.37 EPS. The business’s revenue was up 12.0% compared to the same quarter last year. Analysts anticipate that Elevance Health will post 33.96 earnings per share for the current year.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a $1.71 dividend. This represents a $6.84 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, December 5th. Elevance Health’s payout ratio is presently 27.96%.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.