Elevance Health (NYSE:ELV) Upgraded at Bank of America

Bank of America upgraded shares of Elevance Health (NYSE:ELV) from a neutral rating to a buy rating in a report published on Wednesday morning, Marketbeat reports. Bank of America currently has $435.00 price objective on the stock, up from their previous price objective of $405.00.

Several other equities analysts also recently issued reports on ELV. The Goldman Sachs Group upped their target price on Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a research report on Friday, April 24th. Wells Fargo & Company lowered their price target on Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. JPMorgan Chase & Co. boosted their price target on Elevance Health from $397.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday. Mizuho cut their price objective on Elevance Health from $413.00 to $350.00 and set an “outperform” rating on the stock in a report on Wednesday, March 11th. Finally, UBS Group set a $400.00 price objective on Elevance Health in a research note on Thursday, January 29th. Thirteen analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $384.58.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $372.78 on Wednesday. The company has a 50 day moving average price of $310.69 and a 200 day moving average price of $331.90. The firm has a market capitalization of $80.95 billion, a P/E ratio of 15.86, a PEG ratio of 2.14 and a beta of 0.49. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70. Elevance Health has a 52 week low of $273.71 and a 52 week high of $424.24.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping the consensus estimate of $10.74 by $1.84. The company had revenue of $49.49 billion for the quarter, compared to the consensus estimate of $48.21 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. Elevance Health’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $11.97 EPS. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Sell-side analysts expect that Elevance Health will post 26.79 EPS for the current year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Shareholders of record on Wednesday, June 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Wednesday, June 10th. Elevance Health’s dividend payout ratio is presently 29.26%.

Hedge Funds Weigh In On Elevance Health

A number of institutional investors have recently modified their holdings of the stock. Sound View Wealth Advisors Group LLC grew its holdings in Elevance Health by 3.0% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock worth $354,000 after acquiring an additional 29 shares during the period. Fulton Breakefield Broenniman LLC increased its holdings in shares of Elevance Health by 3.6% during the 4th quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock valued at $289,000 after purchasing an additional 29 shares in the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Elevance Health by 2.2% during the 4th quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after purchasing an additional 29 shares in the last quarter. Savvy Advisors Inc. lifted its stake in shares of Elevance Health by 3.2% in the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after purchasing an additional 30 shares during the period. Finally, HBK Sorce Advisory LLC boosted its holdings in Elevance Health by 4.4% during the third quarter. HBK Sorce Advisory LLC now owns 743 shares of the company’s stock worth $260,000 after buying an additional 31 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Company Profile

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.