Elevance Health (NYSE:ELV) Price Target Raised to $475.00 at Truist Financial

Elevance Health (NYSE:ELV) had its price target upped by Truist Financial from $450.00 to $475.00 in a report issued on Tuesday, Marketbeat.com reports. Truist Financial currently has a buy rating on the stock.

ELV has been the topic of several other research reports. Leerink Partners set a $364.00 price objective on Elevance Health in a report on Thursday, April 23rd. Deutsche Bank Aktiengesellschaft raised Elevance Health from a “hold” rating to a “buy” rating and upped their target price for the company from $363.00 to $498.00 in a research report on Wednesday, May 20th. Citigroup upgraded Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Robert W. Baird lifted their price target on Elevance Health from $317.00 to $331.00 and gave the stock a “neutral” rating in a research report on Thursday, April 23rd. Finally, Guggenheim boosted their price objective on Elevance Health from $396.00 to $399.00 and gave the company a “buy” rating in a research note on Friday, April 24th. Fifteen research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Elevance Health currently has an average rating of “Moderate Buy” and an average price target of $435.05.

Elevance Health Price Performance

ELV stock opened at $430.21 on Tuesday. The business has a 50 day moving average price of $399.37 and a 200 day moving average price of $354.74. The stock has a market cap of $93.42 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 2.41 and a beta of 0.67. Elevance Health has a fifty-two week low of $273.71 and a fifty-two week high of $436.24. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, beating the consensus estimate of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The company had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same period in the prior year, the firm posted $11.97 earnings per share. The firm’s revenue was up 1.5% on a year-over-year basis. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts anticipate that Elevance Health will post 26.86 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 25th. Stockholders of record on Wednesday, June 10th were issued a $1.72 dividend. The ex-dividend date of this dividend was Wednesday, June 10th. This represents a $6.88 dividend on an annualized basis and a dividend yield of 1.6%. Elevance Health’s payout ratio is presently 29.26%.

Insider Activity at Elevance Health

In other 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 transaction of $60,667.27. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.34% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elevance Health

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP boosted its holdings in Elevance Health by 25.2% in the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company’s stock valued at $2,906,051,000 after purchasing an additional 1,668,679 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Elevance Health by 27.5% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company’s stock valued at $2,610,261,000 after buying an additional 1,607,274 shares during the period. Artisan Partners Limited Partnership boosted its stake in shares of Elevance Health by 10.0% in the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company’s stock valued at $1,764,231,000 after buying an additional 455,946 shares in the last quarter. First Eagle Investment Management LLC boosted its stake in shares of Elevance Health by 0.6% in the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company’s stock valued at $1,410,219,000 after buying an additional 24,271 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in Elevance Health by 50.3% during the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company’s stock worth $1,368,505,000 after acquiring an additional 1,306,390 shares during the period. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

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.