Elevance Health’s (ELV) Overweight Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reaffirmed their overweight rating on shares of Elevance Health (NYSE:ELV) in a research report sent to investors on Friday,Benzinga reports. Cantor Fitzgerald currently has a $485.00 target price on the stock. Cantor Fitzgerald also issued estimates for Elevance Health’s FY2025 earnings at $34.57 EPS.

Several other brokerages have also commented on ELV. StockNews.com raised shares of Elevance Health from a “hold” rating to a “buy” rating in a research report on Friday, January 17th. Royal Bank of Canada dropped their price objective on Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a report on Friday, October 18th. Raymond James set a $485.00 target price on Elevance Health in a report on Friday, October 18th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Three analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $525.60.

Elevance Health Trading Up 0.0 %

Shares of Elevance Health stock opened at $401.43 on Friday. Elevance Health has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The business’s fifty day moving average is $386.21 and its two-hundred day moving average is $461.87. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. The firm has a market cap of $93.10 billion, a PE ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Analysts anticipate that Elevance Health will post 32.95 earnings per share for the current year.

Elevance Health Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be paid a dividend of $1.71 per share. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.70%. Elevance Health’s payout ratio is 23.77%.

Hedge Funds Weigh In On Elevance Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Elevance Health by 1.2% in the third quarter. State Street Corp now owns 10,687,998 shares of the company’s stock worth $5,557,759,000 after acquiring an additional 129,709 shares in the last quarter. Geode Capital Management LLC increased its holdings in Elevance Health by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 4,848,020 shares of the company’s stock worth $2,511,814,000 after purchasing an additional 85,770 shares during the last quarter. Sanders Capital LLC boosted its stake in shares of Elevance Health by 1.0% during the 3rd quarter. Sanders Capital LLC now owns 4,609,258 shares of the company’s stock valued at $2,396,814,000 after buying an additional 44,805 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Elevance Health by 6.9% during the third quarter. Wellington Management Group LLP now owns 4,461,585 shares of the company’s stock worth $2,320,024,000 after buying an additional 286,905 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Elevance Health by 16.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,397,258 shares of the company’s stock worth $1,246,574,000 after buying an additional 334,552 shares during the last quarter. 89.24% of the stock is owned by hedge funds and other institutional investors.

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.