Elevance Health (NYSE:ELV - Get Free Report)'s stock had its "overweight" rating restated by Cantor Fitzgerald in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $485.00 target price on the stock. Cantor Fitzgerald's price objective would indicate a potential upside of 21.56% from the company's previous close.
Several other research firms also recently issued reports on ELV. Wells Fargo & Company reduced their price target on shares of Elevance Health from $593.00 to $495.00 and set an "overweight" rating for the company in a research report on Monday, November 4th. UBS Group reduced their price objective on shares of Elevance Health from $605.00 to $555.00 and set a "buy" rating for the company in a report on Friday, October 18th. Morgan Stanley lowered their target price on shares of Elevance Health from $643.00 to $551.00 and set an "overweight" rating on the stock in a report on Wednesday, October 23rd. Barclays lifted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an "overweight" rating in a report on Friday. Finally, Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a "buy" rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $525.60.
Get Our Latest Analysis on Elevance Health
Shares of NYSE ELV traded down $2.38 during midday trading on Friday, reaching $398.98. The stock had a trading volume of 342,642 shares, compared to its average volume of 1,799,672. Elevance Health has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company's 50 day moving average price is $386.32 and its 200 day moving average price is $463.64. The firm has a market cap of $92.53 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84.
Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts' consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. As a group, sell-side analysts expect that Elevance Health will post 32.95 EPS for the current year.
Several large investors have recently added to or reduced their stakes in ELV. Raelipskie Partnership purchased a new stake in shares of Elevance Health in the 3rd quarter valued at about $26,000. PSI Advisors LLC purchased a new stake in Elevance Health in the third quarter valued at approximately $27,000. Eastern Bank bought a new stake in Elevance Health during the third quarter valued at approximately $31,000. Crews Bank & Trust purchased a new position in Elevance Health in the 4th quarter worth approximately $34,000. Finally, Dunhill Financial LLC grew its position in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company's stock worth $37,000 after acquiring an additional 26 shares in the last quarter. Institutional investors own 89.24% of the company's stock.
Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.
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