Barclays Lowers Elevance Health (NYSE:ELV) Price Target to $457.00

Elevance Health (NYSE:ELV) had its price objective lowered by equities research analysts at Barclays from $480.00 to $457.00 in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 22.63% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. Sanford C. Bernstein upped their price target on Elevance Health from $424.00 to $482.00 and gave the stock an “outperform” rating in a research note on Thursday, July 2nd. Royal Bank Of Canada raised their price objective on Elevance Health from $358.00 to $439.00 and gave the company a “sector perform” rating in a research note on Thursday, July 9th. Wells Fargo & Company upped their target price on Elevance Health from $391.00 to $492.00 and gave the stock an “overweight” rating in a research report on Monday. Leerink Partners set a $364.00 target price on Elevance Health in a report on Thursday, April 23rd. Finally, Mizuho lifted their price target on shares of Elevance Health from $435.00 to $465.00 and gave the company an “outperform” rating in a research report on Monday, June 8th. Fifteen investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Trading Down 0.0%

NYSE:ELV opened at $372.68 on Thursday. Elevance Health has a 12 month low of $273.71 and a 12 month high of $436.24. The company has a current ratio of 1.52, a quick ratio of 1.48 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $80.82 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 2.10 and a beta of 0.67. The firm has a fifty day simple moving average of $399.55 and a two-hundred day simple moving average of $355.35.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business’s quarterly revenue was up .8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $8.84 earnings per share. Analysts expect that Elevance Health will post 27.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director directly owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. This represents a 1.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.34% of the company’s stock.

Institutional Trading of Elevance Health

Several institutional investors and hedge funds have recently made changes to their positions in ELV. Kemnay Advisory Services Inc. purchased a new position in Elevance Health during the fourth quarter worth about $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health during the 4th quarter worth approximately $32,000. WealthCollab LLC lifted its position in shares of Elevance Health by 42.2% during the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares in the last quarter. Elevation Wealth Partners LLC boosted its stake in shares of Elevance Health by 600.0% in the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after buying an additional 90 shares during the last quarter. Finally, ORG Partners LLC grew its holdings in shares of Elevance Health by 120.4% in the fourth quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Key Elevance Health News

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

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.