Elevance Health (NYSE:ELV) Given New $350.00 Price Target at Mizuho

Elevance Health (NYSE:ELV) had its price target trimmed by Mizuho from $413.00 to $350.00 in a research report sent to investors on Wednesday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

Several other equities analysts have also issued reports on ELV. Guggenheim decreased their target price on Elevance Health from $414.00 to $396.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Weiss Ratings downgraded shares of Elevance Health from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, February 2nd. Truist Financial reduced their price objective on shares of Elevance Health from $400.00 to $390.00 and set a “buy” rating on the stock in a research note on Monday, February 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $332.00 target price on shares of Elevance Health in a research note on Thursday, January 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Elevance Health from $394.00 to $397.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Twelve equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $387.40.

Elevance Health Trading Up 2.4%

ELV opened at $289.59 on Wednesday. The firm has a 50 day simple moving average of $340.75 and a 200 day simple moving average of $334.59. Elevance Health has a fifty-two week low of $273.71 and a fifty-two week high of $458.75. The company has a market cap of $63.92 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 1.56 and a beta of 0.51. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.54.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data 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. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The firm had revenue of $49.31 billion for the quarter, compared to analysts’ expectations of $49.52 billion. During the same period last year, the firm earned $3.84 earnings per share. The business’s revenue for the quarter was up 9.6% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 25.500- EPS. On average, sell-side analysts anticipate that Elevance Health will post 33.96 earnings per share for the current year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 25th. Investors of record on Tuesday, March 10th will be paid a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date of this dividend is Tuesday, March 10th. This is a boost from Elevance Health’s previous quarterly dividend of $1.71. Elevance Health’s dividend payout ratio (DPR) is currently 27.39%.

Institutional Trading of Elevance Health

Several hedge funds and other institutional investors have recently modified their holdings of ELV. Evergreen Wealth Management LLC raised its holdings in Elevance Health by 33.5% during the third quarter. Evergreen Wealth Management LLC now owns 17,283 shares of the company’s stock worth $5,584,000 after acquiring an additional 4,336 shares in the last quarter. Blume Capital Management Inc. increased its position in shares of Elevance Health by 236.7% during the 3rd quarter. Blume Capital Management Inc. now owns 6,145 shares of the company’s stock worth $1,986,000 after purchasing an additional 4,320 shares during the last quarter. Canoe Financial LP raised its stake in shares of Elevance Health by 18.1% during the 3rd quarter. Canoe Financial LP now owns 389,399 shares of the company’s stock worth $125,823,000 after purchasing an additional 59,743 shares in the last quarter. Synergy Asset Management LLC raised its stake in shares of Elevance Health by 100.0% during the 3rd quarter. Synergy Asset Management LLC now owns 104,334 shares of the company’s stock worth $33,712,000 after purchasing an additional 52,167 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Elevance Health by 31.1% in the 3rd quarter. Victory Capital Management Inc. now owns 461,693 shares of the company’s stock valued at $149,182,000 after buying an additional 109,462 shares during the last quarter. Institutional investors and hedge funds 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.