Elevance Health (NYSE:ELV) Rating Lowered to “Hold” at Wall Street Zen

Elevance Health (NYSE:ELV) was downgraded by equities researchers at Wall Street Zen from a “buy” rating to a “hold” rating in a report issued on Sunday.

Other research analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their target price on shares of Elevance Health from $394.00 to $397.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Wolfe Research set a $425.00 price objective on shares of Elevance Health and gave the stock an “outperform” rating in a report on Thursday, January 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $332.00 price objective on shares of Elevance Health in a research report on Thursday, January 29th. Zacks Research raised Elevance Health from a “strong sell” rating to a “hold” rating in a research report on Thursday, November 6th. Finally, Jefferies Financial Group cut their price target on Elevance Health from $401.00 to $395.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Twelve analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $390.55.

Elevance Health Trading Up 2.0%

NYSE:ELV opened at $338.98 on Friday. The business’s 50-day moving average is $352.03 and its two-hundred day moving average is $330.46. The firm has a market capitalization of $75.33 billion, a PE ratio of 13.49, a price-to-earnings-growth ratio of 1.89 and a beta of 0.50. Elevance Health has a 12 month low of $273.71 and a 12 month high of $458.75. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.56.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.10 by $0.23. The business had revenue of $49.31 billion during the quarter, compared to analyst estimates of $49.52 billion. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.84 earnings per share. Elevance Health has set its FY 2026 guidance at 25.500- EPS. Research analysts predict that Elevance Health will post 33.96 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ELV. Blair William & Co. IL boosted its position in shares of Elevance Health by 3.0% during the second quarter. Blair William & Co. IL now owns 6,260 shares of the company’s stock worth $2,435,000 after buying an additional 180 shares during the period. Callan Family Office LLC raised its stake in Elevance Health by 123.6% during the 2nd quarter. Callan Family Office LLC now owns 4,505 shares of the company’s stock valued at $1,752,000 after acquiring an additional 2,490 shares in the last quarter. IFP Advisors Inc boosted its position in Elevance Health by 6.8% during the 2nd quarter. IFP Advisors Inc now owns 704 shares of the company’s stock worth $300,000 after acquiring an additional 45 shares during the period. Trust Co. of Toledo NA OH bought a new position in shares of Elevance Health in the second quarter worth $43,000. Finally, Apollon Wealth Management LLC increased its holdings in shares of Elevance Health by 30.8% during the second quarter. Apollon Wealth Management LLC now owns 3,421 shares of the company’s stock valued at $1,330,000 after purchasing an additional 806 shares during the period. 89.24% of the stock is owned by institutional investors and hedge funds.

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.