Elevance Health (NYSE:ELV) Stock Price Target Raised at TD Cowen

Elevance Health (NYSE:ELV) had its target price boosted by stock analysts at TD Cowen from $465.00 to $495.00 in a research note issued on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. TD Cowen‘s target price would indicate a potential upside of 11.02% from the company’s current price.

A number of other research analysts also recently weighed in on ELV. Truist Financial upped their target price on Elevance Health from $450.00 to $475.00 and gave the stock a “buy” rating in a report on Tuesday, July 14th. Barclays raised their target price on Elevance Health from $469.00 to $472.00 and gave the company an “overweight” rating in a research note on Thursday. UBS Group lifted their price target on Elevance Health from $460.00 to $523.00 and gave the company a “buy” rating in a research report on Thursday. Guggenheim increased their price objective on Elevance Health from $460.00 to $485.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Sanford C. Bernstein set a $488.00 price objective on Elevance Health in a research report on Thursday, July 16th. Fifteen research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $451.71.

Elevance Health Trading Up 2.7%

Shares of ELV opened at $445.85 on Friday. The firm’s 50-day moving average price is $407.53 and its 200-day moving average price is $390.54. The firm has a market capitalization of $96.69 billion, a price-to-earnings ratio of 19.82, a PEG ratio of 2.12 and a beta of 0.70. The company has a current ratio of 1.47, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health has a 1-year low of $274.84 and a 1-year high of $450.69.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.71 by $2.28. Elevance Health had a net margin of 2.55% and a return on equity of 14.97%. The company had revenue of $50.44 billion for the quarter, compared to analysts’ expectations of $49.28 billion. During the same quarter in the previous year, the company earned $6.03 earnings per share. Elevance Health’s quarterly revenue was up .7% on a year-over-year basis. Sell-side analysts anticipate that Elevance Health will post 29.00 EPS for the current year.

Institutional Investors Weigh In On Elevance Health

A number of institutional investors have recently made changes to their positions in ELV. Activest Wealth Management raised its holdings in Elevance Health by 146.2% in the 3rd quarter. Activest Wealth Management now owns 64 shares of the company’s stock worth $25,000 after acquiring an additional 38 shares during the last quarter. Kilter Group LLC bought a new position in Elevance Health in the 2nd quarter valued at approximately $28,000. WealthCollab LLC boosted its stake in Elevance Health by 42.2% during 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 last quarter. Elevation Wealth Partners LLC boosted its stake in Elevance Health by 600.0% during the 2nd quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock valued at $41,000 after purchasing an additional 90 shares during the last quarter. Finally, Tacita Capital Inc bought a new stake in shares of Elevance Health in the 2nd quarter worth $44,000. 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 diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.