Elevance Health (NYSE:ELV) PT Lowered to $484.00 at TD Cowen

Elevance Health (NYSE:ELV) had its price target lowered by TD Cowen from $589.00 to $484.00 in a research note released on Monday, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities research analysts have also issued reports on the company. Wells Fargo & Company reissued a “buy” rating on shares of Elevance Health in a research note on Friday, October 18th. Royal Bank of Canada lowered their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Bank of America reaffirmed a “neutral” rating and issued a $530.00 price target (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Barclays boosted their price objective on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Finally, Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus price target of $551.07.

Elevance Health Trading Up 0.8 %

ELV stock opened at $418.75 on Monday. Elevance Health has a twelve month low of $397.98 and a twelve month high of $567.26. The stock has a market capitalization of $97.33 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm’s fifty day simple moving average is $519.97 and its two-hundred day simple moving average is $525.88.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.99 earnings per share. As a group, analysts anticipate that Elevance Health will post 37.26 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be issued a $1.63 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a yield of 1.56%. Elevance Health’s dividend payout ratio is presently 24.64%.

Insider Buying and Selling at Elevance Health

In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now owns 8,744 shares of the company’s stock, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now owns 8,744 shares in the company, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank & Trust Co acquired a new stake in Elevance Health in the 2nd quarter worth approximately $27,000. PSI Advisors LLC acquired a new stake in shares of Elevance Health during the third quarter worth $27,000. Palisade Asset Management LLC purchased a new stake in shares of Elevance Health during the first quarter valued at $28,000. Opal Wealth Advisors LLC purchased a new stake in shares of Elevance Health during the second quarter valued at $28,000. Finally, Strategic Financial Concepts LLC acquired a new position in shares of Elevance Health in the 2nd quarter valued at $30,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Elevance Health Company Profile

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.