Elevance Health (NYSE:ELV) Upgraded to Buy at StockNews.com

Elevance Health (NYSE:ELV) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

A number of other brokerages also recently commented on ELV. Stephens downgraded shares of 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 report on Wednesday, January 22nd. Barclays raised their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Argus reaffirmed a “hold” rating and set a $405.40 price objective on shares of Elevance Health in a report on Wednesday, January 29th. Mizuho reduced their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research note on Friday, January 24th. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Trading Up 1.1 %

Shares of ELV stock opened at $397.09 on Friday. Elevance Health has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The business’s 50 day moving average is $387.78 and its two-hundred day moving average is $439.71. The company has a market capitalization of $90.28 billion, a P/E ratio of 15.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Equities analysts forecast that Elevance Health will post 33.96 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Lifeworks Advisors LLC increased its position in Elevance Health by 2.5% during the third quarter. Lifeworks Advisors LLC now owns 1,037 shares of the company’s stock worth $539,000 after buying an additional 25 shares in the last quarter. Fullcircle Wealth LLC raised its stake in Elevance Health by 1.5% in the 3rd quarter. Fullcircle Wealth LLC now owns 1,743 shares of the company’s stock valued at $906,000 after purchasing an additional 26 shares during the last quarter. Dunhill Financial LLC raised its stake in Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the last quarter. Catalina Capital Group LLC raised its stake in Elevance Health by 1.7% in the 3rd quarter. Catalina Capital Group LLC now owns 1,656 shares of the company’s stock valued at $861,000 after purchasing an additional 27 shares during the last quarter. Finally, Tobam boosted its stake in shares of Elevance Health by 6.6% during the 4th quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after purchasing an additional 27 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

About Elevance Health

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.