Elevance Health, Inc. (NYSE:ELV) Receives $517.03 Consensus PT from Analysts

Elevance Health, Inc. (NYSE:ELV) has received a consensus recommendation of “Moderate Buy” from the sixteen ratings firms that are currently covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation, twelve have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $517.03.

Several equities research analysts have recently weighed in on ELV shares. Mizuho decreased their price objective on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Wells Fargo & Company lowered their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 28th. Stephens cut shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $485.00 target price on shares of Elevance Health in a research note on Friday, January 24th. Finally, Morgan Stanley dropped their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd.

Elevance Health Price Performance

Shares of NYSE:ELV opened at $389.58 on Thursday. Elevance Health has a 12 month low of $362.21 and a 12 month high of $567.26. The firm has a market capitalization of $90.35 billion, a P/E ratio of 15.21, a P/E/G ratio of 1.17 and a beta of 0.83. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. The company’s fifty day moving average price is $385.08 and its 200 day moving average price is $449.32.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. As a group, sell-side analysts predict that Elevance Health will post 34.05 earnings per share for the current fiscal year.

Elevance Health Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be given a dividend of $1.71 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.63. This represents a $6.84 annualized dividend and a dividend yield of 1.76%. The ex-dividend date is Monday, March 10th. Elevance Health’s payout ratio is presently 25.46%.

Hedge Funds Weigh In On Elevance Health

A number of large investors have recently made changes to their positions in the stock. Cypress Advisory Group LLC acquired a new position in Elevance Health during the fourth quarter worth about $1,783,000. Mercer Global Advisors Inc. ADV acquired a new stake in shares of Elevance Health in the 4th quarter worth approximately $17,043,000. Keel Point LLC increased its stake in Elevance Health by 4.5% in the 4th quarter. Keel Point LLC now owns 1,254 shares of the company’s stock valued at $463,000 after purchasing an additional 54 shares in the last quarter. Voleon Capital Management LP acquired a new position in Elevance Health during the fourth quarter worth $2,668,000. Finally, Utah Retirement Systems boosted its position in Elevance Health by 0.5% during the fourth quarter. Utah Retirement Systems now owns 38,650 shares of the company’s stock worth $14,258,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other 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.