Elevance Health (NYSE:ELV) Given New $478.00 Price Target at Wells Fargo & Company

Elevance Health (NYSE:ELV) had its price objective lowered by stock analysts at Wells Fargo & Company from $483.00 to $478.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price suggests a potential upside of 16.26% from the company’s current price.

A number of other brokerages also recently weighed in on ELV. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. UBS Group decreased their price target 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. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday. Finally, Truist Financial decreased their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $524.47.

Elevance Health Stock Performance

Shares of ELV opened at $411.14 on Tuesday. The firm has a market cap of $95.35 billion, a price-to-earnings ratio of 14.99, a PEG ratio of 1.11 and a beta of 0.84. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The business’s 50 day moving average is $386.21 and its two-hundred day moving average is $461.36. Elevance Health has a 52-week low of $362.21 and a 52-week high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. Analysts forecast that Elevance Health will post 32.95 EPS for the current fiscal year.

Institutional Trading of Elevance Health

A number of large investors have recently bought and sold shares of ELV. Cypress Wealth Services LLC increased its stake in shares of Elevance Health by 3.5% in the third quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after buying an additional 23 shares in the last quarter. Atomi Financial Group Inc. boosted its position in shares of Elevance Health by 4.2% during the third quarter. Atomi Financial Group Inc. now owns 615 shares of the company’s stock worth $320,000 after purchasing an additional 25 shares in the last quarter. Lifeworks Advisors LLC grew its holdings in shares of Elevance Health by 2.5% in the 3rd quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock valued at $539,000 after buying an additional 25 shares during the period. Catalyst Financial Partners LLC grew its stake in Elevance Health by 2.9% in the third quarter. Catalyst Financial Partners LLC now owns 918 shares of the company’s stock valued at $477,000 after acquiring an additional 26 shares during the period. Finally, Fullcircle Wealth LLC boosted its holdings in shares of Elevance Health by 1.5% in the third quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after buying an additional 26 shares during the period. 89.24% of the stock is currently owned by 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.