Elevance Health (NYSE:ELV) Sets New 52-Week High – What’s Next?

Elevance Health, Inc. (NYSE:ELV)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $426.98 and last traded at $404.3340, with a volume of 2506418 shares changing hands. The stock had previously closed at $424.43.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Elevance Health from $375.00 to $450.00 and gave the company a “buy” rating in a report on Monday, June 1st. Evercore reaffirmed a “hold” rating on shares of Elevance Health in a report on Tuesday, May 19th. Jefferies Financial Group reduced their target price on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a report on Monday, April 20th. Leerink Partners set a $364.00 target price on shares of Elevance Health in a report on Thursday, April 23rd. Finally, Morgan Stanley boosted their target price on shares of Elevance Health from $352.00 to $404.00 and gave the stock an “equal weight” rating in a report on Thursday, June 4th. Fourteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $416.11.

Elevance Health Stock Down 4.7%

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 $87.81 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 2.40 and a beta of 0.67. The stock’s fifty day simple moving average is $362.40 and its two-hundred day simple moving average is $343.89.

Elevance Health (NYSE:ELV) last posted its 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 firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same period in the previous year, the firm posted $11.97 EPS. The company’s revenue for the quarter was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, research analysts expect that Elevance Health, Inc. will post 26.94 EPS for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th will be given a $1.72 dividend. The ex-dividend date is Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.7%. Elevance Health’s payout ratio is 29.26%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ELV. Sei Investments Co. lifted its position in shares of Elevance Health by 7.7% in the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock worth $63,666,000 after purchasing an additional 11,745 shares during the period. Glenview Trust co lifted its position in shares of Elevance Health by 41.5% in the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company’s stock worth $630,000 after purchasing an additional 475 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its position in shares of Elevance Health by 6.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock worth $25,650,000 after purchasing an additional 4,272 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Elevance Health by 5.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock worth $16,478,000 after purchasing an additional 2,012 shares during the period. Finally, Quantinno Capital Management LP lifted its position in shares of Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock worth $17,080,000 after purchasing an additional 23,180 shares during the period. Institutional investors and hedge funds 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.