Elevance Health (NYSE:ELV) Stock Price Expected to Rise, Guggenheim Analyst Says

Elevance Health (NYSE:ELV) had its target price upped by Guggenheim from $399.00 to $455.00 in a research note issued to investors on Thursday, MarketBeat.com reports. The firm currently has a “buy” rating on the stock. Guggenheim’s price target points to a potential upside of 22.09% from the company’s previous close.

A number of other equities analysts have also commented on ELV. Cantor Fitzgerald lifted their price objective on Elevance Health from $400.00 to $450.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and lifted their price target for the stock from $363.00 to $498.00 in a research report on Wednesday, May 20th. JPMorgan Chase & Co. increased their price objective on Elevance Health from $411.00 to $476.00 and gave the company an “overweight” rating in a research report on Monday, June 8th. UBS Group boosted their target price on shares of Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Finally, The Goldman Sachs Group upped their target price on shares of Elevance Health from $350.00 to $370.00 and gave the company a “neutral” rating in a research note on Friday, April 24th. Fifteen research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Trading Down 0.0%

NYSE:ELV opened at $372.68 on Thursday. The company’s 50 day moving average is $399.55 and its 200-day moving average is $355.35. The company has a quick ratio of 1.48, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. Elevance Health has a 12 month low of $273.71 and a 12 month high of $436.24. The firm has a market cap of $80.82 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 2.10 and a beta of 0.67.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. Elevance Health’s quarterly revenue was up .8% compared to the same quarter last year. During the same period in the prior year, the firm earned $8.84 EPS. Equities analysts anticipate that Elevance Health will post 27.05 EPS for the current year.

Insider Buying and Selling

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director directly owned 10,734 shares of the company’s stock, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.34% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Elevance Health

Hedge funds have recently made changes to their positions in the business. Murphy Middleton Hinkle & Parker Inc. bought a new position in shares of Elevance Health in the 4th quarter valued at about $5,941,000. Bright Rock Capital Management LLC bought a new position in Elevance Health in the fourth quarter valued at approximately $7,362,000. CIBC Bancorp USA Inc. acquired a new position in shares of Elevance Health during the 3rd quarter worth approximately $10,047,000. Mirabella Financial Services LLP raised its stake in shares of Elevance Health by 186.6% during the 3rd quarter. Mirabella Financial Services LLP now owns 8,413 shares of the company’s stock worth $2,713,000 after purchasing an additional 5,478 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of Elevance Health by 58.7% in the 4th quarter. Exchange Traded Concepts LLC now owns 52,295 shares of the company’s stock valued at $18,332,000 after buying an additional 19,339 shares during the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

Key Stories Impacting Elevance Health

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance posted stronger-than-expected second-quarter results and raised its full-year outlook, which supports the bullish case for the stock. Elevance Health Beats Q2 And Raises Outlook While Leaving More Medicaid Markets
• Positive Sentiment: Several analysts turned more constructive after earnings, including Guggenheim raising its target to $455 and TD Cowen reiterating a Buy rating, suggesting confidence in upside from current levels. These Analysts Revise Their Forecasts On Elevance Health Following Q2 Earnings
• Positive Sentiment: Barclays also maintained an Overweight rating, even though it trimmed its price target, which still implies meaningful upside and reflects continued analyst support. Barclays price target update on Elevance Health
• Neutral Sentiment: Elevance’s Q2 earnings call highlighted growth opportunities, but also acknowledged ongoing strain in parts of the business, making the near-term outlook more balanced than purely upbeat. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Shares are being held back by margin pressure and concerns around the company’s Medicaid exposure, which some coverage framed as a reason the stock slipped despite the earnings beat. Elevance Health beats second-quarter forecasts but shares slide on margin pressure
• Negative Sentiment: Market commentary also noted ELV underperformed peers recently, indicating investor caution even after the earnings report. Elevance Health Inc. stock underperforms Thursday when compared to competitors

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.