Elevance Health (NYSE:ELV) Price Target Raised to $404.00 at Morgan Stanley

Elevance Health (NYSE:ELV) had its price target raised by analysts at Morgan Stanley from $352.00 to $404.00 in a research note issued on Thursday,MarketScreener reports. Morgan Stanley’s target price suggests a potential downside of 0.23% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on the stock. Citigroup raised Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a research note on Tuesday, May 19th. UBS Group lifted their price objective on Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 18th. Finally, Sanford C. Bernstein upped their target price on shares of Elevance Health from $384.00 to $424.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Fourteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $409.79.

Elevance Health Stock Up 3.5%

ELV stock opened at $404.94 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $87.94 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 2.20 and a beta of 0.67. Elevance Health has a one year low of $273.71 and a one year high of $408.00. The company has a fifty day moving average of $349.95 and a 200-day moving average of $340.65.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, topping analysts’ consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion for the quarter, compared to analysts’ expectations of $48.21 billion. During the same period in the prior year, the company posted $11.97 EPS. The business’s revenue for the quarter was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, analysts expect that Elevance Health will post 26.94 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Physician Wealth Advisors Inc. raised its position in Elevance Health by 331.6% in the third quarter. Physician Wealth Advisors Inc. now owns 82 shares of the company’s stock valued at $26,000 after purchasing an additional 63 shares during the period. WealthCollab LLC boosted its position in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock worth $27,000 after buying an additional 27 shares during the period. Rossby Financial LCC grew its stake in shares of Elevance Health by 110.0% in the third quarter. Rossby Financial LCC now owns 84 shares of the company’s stock valued at $28,000 after buying an additional 44 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new stake in shares of Elevance Health in the fourth quarter valued at about $31,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Elevance Health during the 4th quarter valued at about $32,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

About Elevance Health

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.