Elevance Health (NYSE:ELV) Downgraded by StockNews.com to “Hold”

Elevance Health (NYSE:ELV) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

ELV has been the topic of a number of other reports. Mizuho decreased their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a report on Tuesday, November 5th. Wells Fargo & Company dropped their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Argus reaffirmed a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a research note on Wednesday, January 29th. Barclays lifted their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Finally, Truist Financial reduced their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and a consensus price target of $517.03.

Elevance Health Price Performance

Shares of NYSE:ELV traded down $5.46 during trading hours on Friday, hitting $385.04. 1,736,819 shares of the company’s stock traded hands, compared to its average volume of 1,621,539. The company’s fifty day simple moving average is $385.25 and its two-hundred day simple moving average is $444.32. The company has a market cap of $89.30 billion, a price-to-earnings ratio of 15.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health has a 52 week low of $362.21 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) 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 net margin of 3.38% and a return on equity of 18.28%. As a group, equities analysts anticipate that Elevance Health will post 34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ELV. Accredited Wealth Management LLC bought a new stake in shares of Elevance Health in the 4th quarter valued at approximately $25,000. Raelipskie Partnership bought a new stake in Elevance Health in the third quarter worth approximately $26,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health during the 4th quarter worth $26,000. PSI Advisors LLC bought a new position in shares of Elevance Health during the 3rd quarter valued at $27,000. Finally, OFI Invest Asset Management acquired a new stake in shares of Elevance Health in the 4th quarter valued at $29,000. 89.24% of the stock is owned by institutional investors and hedge funds.

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.