Elevance Health (NYSE:ELV) Rating Lowered to Hold at Argus

Elevance Health (NYSE:ELV) was downgraded by equities researchers at Argus from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, Marketbeat.com reports.

ELV has been the topic of several other reports. Stephens reissued an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a research note on Thursday, September 5th. Royal Bank of Canada increased their target price on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. TD Cowen decreased their price target on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Cantor Fitzgerald reissued an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research report on Tuesday, October 1st. Finally, Bank of America restated a “neutral” rating and issued a $530.00 target price (down from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $572.27.

Elevance Health Price Performance

Elevance Health stock opened at $430.77 on Friday. The firm has a market cap of $100.12 billion, a P/E ratio of 16.28, a P/E/G ratio of 1.08 and a beta of 0.82. The stock’s 50 day moving average is $526.74 and its 200 day moving average is $527.66. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health has a one year low of $397.98 and a one year high of $567.26.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter last year, the firm posted $8.99 EPS. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, research analysts expect that Elevance Health will post 37.26 EPS for the current year.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the firm’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the transaction, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,170 shares of company stock worth $20,638,737. 0.35% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Fisher Asset Management LLC increased its holdings in Elevance Health by 20.8% during the fourth quarter. Fisher Asset Management LLC now owns 899 shares of the company’s stock worth $424,000 after buying an additional 155 shares during the last quarter. Mather Group LLC. bought a new stake in shares of Elevance Health in the 1st quarter worth approximately $158,000. Alaska Permanent Fund Corp lifted its stake in Elevance Health by 950.8% in the first quarter. Alaska Permanent Fund Corp now owns 683 shares of the company’s stock valued at $354,000 after purchasing an additional 618 shares during the last quarter. Park Avenue Securities LLC lifted its stake in Elevance Health by 11.6% in the first quarter. Park Avenue Securities LLC now owns 8,492 shares of the company’s stock valued at $4,403,000 after purchasing an additional 882 shares during the last quarter. Finally, Marcum Wealth LLC grew its holdings in Elevance Health by 6.7% during the first quarter. Marcum Wealth LLC now owns 555 shares of the company’s stock valued at $288,000 after purchasing an additional 35 shares during the period. Institutional investors own 89.24% of the company’s stock.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.