Barclays Cuts Elevance Health (NYSE:ELV) Price Target to $457.00

Elevance Health (NYSE:ELV) had its target price reduced by Barclays from $480.00 to $457.00 in a report issued on Thursday morning, MarketBeat reports. They currently have an overweight rating on the stock.

ELV has been the topic of several other research reports. Wells Fargo & Company raised their price target on Elevance Health from $391.00 to $492.00 and gave the company an “overweight” rating in a research note on Monday, July 13th. Bank of America upped their price objective on shares of Elevance Health from $435.00 to $460.00 and gave the stock a “buy” rating in a research note on Thursday, June 4th. Raymond James Financial set a $450.00 target price on shares of Elevance Health in a report on Tuesday, July 7th. Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, May 18th. Finally, JPMorgan Chase & Co. upped their price target on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research report on Monday, June 8th. Fifteen analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $440.90.

Elevance Health Stock Down 0.0%

Shares of NYSE ELV opened at $372.68 on Thursday. Elevance Health has a 52-week low of $273.71 and a 52-week high of $436.24. The firm has a market capitalization of $80.82 billion, a price-to-earnings ratio of 16.56, a PEG ratio of 2.10 and a beta of 0.67. The stock has a 50 day moving average price of $399.55 and a 200 day moving average price of $355.35. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.48 and a current ratio of 1.52.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 EPS for the quarter, topping the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to the consensus estimate of $48.88 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.Elevance Health’s quarterly revenue was up .8% on a year-over-year basis. During the same period last year, the business posted $8.84 EPS. Sell-side analysts expect that Elevance Health will post 27.08 earnings per share for the current year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Thursday, September 10th will be issued a $1.72 dividend. This represents a $6.88 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, September 10th. Elevance Health’s payout ratio is currently 30.58%.

Insider Transactions at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 10,734 shares in the company, valued at $4,312,599.18. This represents a 1.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.34% of the stock is owned by corporate insiders.

Institutional Trading of Elevance Health

Several institutional investors have recently modified their holdings of ELV. Sei Investments Co. raised its holdings in shares of Elevance Health by 7.7% during the second quarter. Sei Investments Co. now owns 163,668 shares of the company’s stock valued at $63,666,000 after acquiring an additional 11,745 shares during the last quarter. Glenview Trust co boosted its holdings in shares of Elevance Health by 41.5% during the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company’s stock worth $630,000 after purchasing an additional 475 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Elevance Health by 6.9% in the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company’s stock valued at $25,650,000 after purchasing an additional 4,272 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Elevance Health by 5.0% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company’s stock worth $16,478,000 after buying an additional 2,012 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company’s stock valued at $17,080,000 after buying an additional 23,180 shares in the last quarter. Institutional investors and hedge funds own 89.24% of the company’s stock.

More Elevance Health News

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

About Elevance Health

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.