Robert W. Baird Forecasts Strong Price Appreciation for Elevance Health (NYSE:ELV) Stock

Elevance Health (NYSE:ELV) had its price target lifted by research analysts at Robert W. Baird from $331.00 to $393.00 in a research note issued on Thursday, MarketBeat.com reports. The brokerage currently has a “neutral” rating on the stock. Robert W. Baird’s target price would suggest a potential upside of 5.45% from the company’s previous close.

Several other research firms have also commented on ELV. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and raised their price objective for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Leerink Partners set a $364.00 target price on Elevance Health in a report on Thursday, April 23rd. Royal Bank Of Canada boosted their price target on Elevance Health from $358.00 to $439.00 and gave the stock a “sector perform” rating in a research report on Thursday, July 9th. Bank of America upped their price target on Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a report on Thursday, June 4th. Finally, Jefferies Financial Group dropped their price objective on shares of Elevance Health from $395.00 to $391.00 and set a “buy” rating on the stock in a research note on Monday, April 20th. Fifteen analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Elevance Health Trading Down 0.0%

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

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

Insider Buying and Selling at Elevance Health

In other news, Director Robert L. Dixon, Jr. sold 151 shares of the business’s stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the sale, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.34% of the company’s stock.

Institutional Trading of Elevance Health

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Kemnay Advisory Services Inc. acquired a new stake in shares of Elevance Health during the 4th quarter valued at approximately $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health in the fourth quarter worth $32,000. WealthCollab LLC increased its stake in Elevance Health by 42.2% during the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the last quarter. Elevation Wealth Partners LLC raised its holdings in shares of Elevance Health by 600.0% during the second quarter. Elevation Wealth Partners LLC now owns 105 shares of the company’s stock worth $41,000 after purchasing an additional 90 shares during the period. Finally, ORG Partners LLC lifted its position in shares of Elevance Health by 120.4% in the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock worth $38,000 after buying an additional 59 shares during the last quarter. 89.24% of the stock is owned by institutional investors.

Elevance Health News Summary

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.