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

Cantor Fitzgerald reissued their overweight rating on shares of Elevance Health (NYSE:ELV) in a research note released on Wednesday morning,Benzinga reports. The firm currently has a $485.00 price objective on the stock. Cantor Fitzgerald also issued estimates for Elevance Health’s FY2025 earnings at $34.47 EPS.

A number of other brokerages also recently commented on ELV. Argus raised Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a report on Monday, March 17th. Barclays raised their price target on shares of Elevance Health from $512.00 to $522.00 and gave the stock an “overweight” rating in a research report on Wednesday. Baird R W cut shares of Elevance Health from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 15th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $520.00 to $440.00 in a report on Wednesday, January 22nd. Finally, Wells Fargo & Company cut their target price on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $509.44.

Elevance Health Price Performance

Elevance Health stock opened at $421.55 on Wednesday. The firm’s 50-day moving average is $420.00 and its two-hundred day moving average is $408.48. 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 stock has a market capitalization of $95.43 billion, a P/E ratio of 16.46, a P/E/G ratio of 1.18 and a beta of 0.77. Elevance Health has a 12-month low of $362.21 and a 12-month high of $567.26.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $11.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $10.60 by $1.37. The firm had revenue of $48.77 billion during the quarter, compared to the consensus estimate of $46.26 billion. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities analysts predict that Elevance Health will post 33.96 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 25th. Investors of record on Tuesday, June 10th will be given a dividend of $1.71 per share. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $6.84 dividend on an annualized basis and a yield of 1.62%. Elevance Health’s dividend payout ratio is currently 26.71%.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $415.13, for a total value of $183,902.59. Following the sale, the chief accounting officer now directly owns 1,847 shares in the company, 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 Securities & Exchange Commission, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the business’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 8,535 shares of company stock valued at $3,521,612 over the last three months. Company insiders own 0.29% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mutual Advisors LLC increased its holdings in Elevance Health by 2.5% in the fourth quarter. Mutual Advisors LLC now owns 2,163 shares of the company’s stock worth $833,000 after buying an additional 52 shares during the last quarter. Czech National Bank grew its position in Elevance Health by 6.5% in the fourth quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after acquiring an additional 3,049 shares in the last quarter. Diversified Trust Co increased its stake in shares of Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after purchasing an additional 2,725 shares during the last quarter. JB Capital LLC raised its holdings in shares of Elevance Health by 597.2% during the 4th quarter. JB Capital LLC now owns 9,384 shares of the company’s stock valued at $3,462,000 after purchasing an additional 8,038 shares in the last quarter. Finally, Tidal Investments LLC lifted its stake in shares of Elevance Health by 60.6% in the 3rd quarter. Tidal Investments LLC now owns 10,485 shares of the company’s stock valued at $5,452,000 after purchasing an additional 3,956 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.