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

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

Other equities research analysts have also issued reports about the company. Cantor Fitzgerald restated an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a research report on Friday, January 24th. Barclays upped their target price on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Wells Fargo & Company decreased their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Mizuho dropped their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Finally, Argus reiterated a “hold” rating and set a $405.40 target price on shares of Elevance Health in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Down 1.4 %

Shares of Elevance Health stock opened at $385.04 on Friday. 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 12-month low of $362.21 and a 12-month high of $567.26. The company has a market cap of $89.30 billion, a P/E ratio of 15.03, a PEG ratio of 1.18 and a beta of 0.83. The company’s fifty day simple moving average is $385.25 and its two-hundred day simple moving average is $443.77.

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

Hedge Funds Weigh In On Elevance Health

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Raelipskie Partnership purchased a new position in shares of Elevance Health during the third quarter valued at approximately $26,000. PSI Advisors LLC purchased a new stake in Elevance Health during the 3rd quarter valued at $27,000. Eastern Bank bought a new position in shares of Elevance Health during the 3rd quarter valued at $31,000. Accredited Wealth Management LLC bought a new position in shares of Elevance Health during the 4th quarter valued at $25,000. Finally, Flagship Wealth Advisors LLC purchased a new position in shares of Elevance Health in the 4th quarter worth $26,000. 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.