Elevance Health (NYSE:ELV) Price Target Cut to $375.00 by Analysts at Truist Financial

Elevance Health (NYSE:ELV) had its price target reduced by Truist Financial from $390.00 to $375.00 in a research note published on Monday, MarketBeat.com reports. They currently have a buy rating on the stock.

Other research analysts also recently issued research reports about the company. UBS Group set a $400.00 target price on Elevance Health in a report on Thursday, January 29th. Morgan Stanley reduced their target price on Elevance Health from $359.00 to $352.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 17th. Barclays reduced their target price on Elevance Health from $404.00 to $393.00 and set an “overweight” rating on the stock in a report on Friday, January 30th. Royal Bank Of Canada downgraded Elevance Health from an “outperform” rating to a “sector perform” rating and set a $358.00 target price on the stock. in a report on Tuesday, February 3rd. Finally, Guggenheim reduced their target price on Elevance Health from $414.00 to $396.00 and set a “buy” rating on the stock in a report on Thursday, January 29th. Twelve research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $384.67.

Elevance Health Price Performance

ELV stock opened at $316.07 on Monday. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 0.70. Elevance Health has a 52-week low of $273.71 and a 52-week high of $443.29. The stock’s 50 day moving average is $310.73 and its two-hundred day moving average is $332.12. The company has a market capitalization of $69.43 billion, a PE ratio of 12.58, a P/E/G ratio of 1.71 and a beta of 0.49.

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

Elevance Health Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th were issued a $1.72 dividend. This is a positive change from Elevance Health’s previous quarterly dividend of $1.71. The ex-dividend date of this dividend was Tuesday, March 10th. This represents a $6.88 annualized dividend and a dividend yield of 2.2%. Elevance Health’s dividend payout ratio (DPR) is 27.39%.

Institutional Trading of Elevance Health

Several hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in shares of Elevance Health by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 22,998,645 shares of the company’s stock worth $7,431,322,000 after purchasing an additional 141,747 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock worth $2,906,051,000 after purchasing an additional 1,668,679 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock worth $2,610,261,000 after purchasing an additional 1,607,274 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of Elevance Health by 10.0% in the 4th quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock worth $1,764,231,000 after purchasing an additional 455,946 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its holdings in shares of Elevance Health by 0.6% in the 4th quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock worth $1,410,219,000 after purchasing an additional 24,271 shares during the last quarter. Institutional investors own 89.24% of the company’s stock.

About Elevance Health

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.