Elevance Health (NYSE:ELV) Price Target Raised to $455.00

Elevance Health (NYSE:ELV) had its price target upped by Guggenheim from $399.00 to $455.00 in a report published on Thursday, MarketBeat.com reports. The brokerage currently has a buy rating on the stock.

A number of other analysts also recently weighed in on ELV. Royal Bank Of Canada increased their price target on shares of Elevance Health from $358.00 to $439.00 and gave the company a “sector perform” rating in a research report on Thursday, July 9th. UBS Group upped their target price on shares of Elevance Health from $400.00 to $460.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Mizuho increased their target price on shares of Elevance Health from $435.00 to $465.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Deutsche Bank Aktiengesellschaft raised shares of Elevance Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. Finally, TD Cowen boosted their price target on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $440.90.

Elevance Health Stock Down 0.0%

Shares of Elevance Health stock opened at $372.68 on Thursday. The business has a fifty day simple moving average of $399.55 and a 200 day simple moving average of $355.35. The stock has a market cap of $80.82 billion, a PE ratio of 16.56, a price-to-earnings-growth ratio of 2.10 and a beta of 0.67. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health has a 12 month low of $273.71 and a 12 month high of $436.24.

Elevance Health (NYSE:ELV) last released its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating the consensus estimate of $6.21 by $1.24. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.The firm had revenue of $49.83 billion for the quarter, compared to analyst estimates of $48.88 billion. During the same quarter in the prior year, the firm posted $8.84 earnings per share. The company’s quarterly revenue was up .8% on a year-over-year basis. Research analysts predict that Elevance Health will post 27.08 EPS for the current year.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be paid a dividend of $1.72 per share. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s dividend payout ratio is presently 30.58%.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the transaction, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.34% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Institutional investors have recently added to or reduced their stakes in the stock. WealthCollab LLC raised its stake in shares of Elevance Health by 42.2% in the 1st quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the period. Kemnay Advisory Services Inc. acquired a new position in shares of Elevance Health during the fourth quarter worth about $31,000. J.Safra Asset Management Corp bought a new position in shares of Elevance Health during the fourth quarter worth about $32,000. ORG Partners LLC raised its position in Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after buying an additional 59 shares during the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Elevance Health in the 4th quarter valued at approximately $38,000. 89.24% of the stock is owned by institutional investors.

Key Headlines Impacting Elevance Health

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

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.