Elevance Health (NYSE:ELV) Rating Lowered to “Hold” at StockNews.com

Elevance Health (NYSE:ELV) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Wednesday.

Several other research firms have also recently issued reports on ELV. Barclays raised their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday, January 24th. Truist Financial lowered their target price on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Argus reaffirmed a “hold” rating and set a $405.40 price target on shares of Elevance Health in a research note on Wednesday, January 29th. Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a report on Tuesday, January 28th. Finally, Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $520.00 to $440.00 in a research note on Wednesday, January 22nd. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $517.03.

Elevance Health Stock Performance

NYSE ELV opened at $417.77 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. Elevance Health has a twelve month low of $362.21 and a twelve month high of $567.26. The stock has a market cap of $94.98 billion, a PE ratio of 16.31, a P/E/G ratio of 1.18 and a beta of 0.86. The stock has a fifty day simple moving average of $394.44 and a 200-day simple moving average of $431.33.

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%. Equities analysts anticipate that Elevance Health will post 33.96 earnings per share for the current year.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the transaction, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the completion of the transaction, the executive vice president now owns 10,116 shares of the company’s stock, valued at approximately $4,008,970.80. This trade represents a 25.73 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Elevance Health

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELV. Accredited Wealth Management LLC bought a new position in shares of Elevance Health in the fourth quarter worth $25,000. Raelipskie Partnership acquired a new position in Elevance Health during the 3rd quarter valued at about $26,000. Flagship Wealth Advisors LLC bought a new stake in shares of Elevance Health during the 4th quarter worth about $26,000. OFI Invest Asset Management acquired a new stake in shares of Elevance Health in the 4th quarter worth approximately $29,000. Finally, WealthTrak Capital Management LLC bought a new position in shares of Elevance Health in the fourth quarter valued at approximately $29,000. 89.24% of the stock is owned by 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.