Elevance Health (NYSE:ELV) Given New $585.00 Price Target at Mizuho

Elevance Health (NYSE:ELV) had its price objective upped by Mizuho from $575.00 to $585.00 in a research report released on Wednesday, Benzinga reports. Mizuho currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Jefferies Financial Group lifted their price target on shares of Elevance Health from $602.00 to $604.00 and gave the stock a buy rating in a research note on Friday, April 19th. Truist Financial reiterated a buy rating and issued a $600.00 price target (up from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. Wells Fargo & Company raised their price objective on shares of Elevance Health from $557.00 to $600.00 and gave the stock an overweight rating in a report on Friday, April 19th. UBS Group raised their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a buy rating in a report on Friday, April 19th. Finally, Barclays raised their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an overweight rating in a report on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $587.42.

Elevance Health Stock Down 0.4 %

NYSE:ELV opened at $537.26 on Wednesday. The firm has a 50-day simple moving average of $511.89 and a two-hundred day simple moving average of $486.62. Elevance Health has a fifty-two week low of $412.00 and a fifty-two week high of $542.07. The firm has a market cap of $124.87 billion, a P/E ratio of 20.30, a P/E/G ratio of 1.19 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Thursday, April 18th. The company reported $10.64 EPS for the quarter, topping analysts’ consensus estimates of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The firm had revenue of $42.27 billion during the quarter, compared to analyst estimates of $42.49 billion. During the same period in the previous year, the business posted $9.46 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. Analysts predict that Elevance Health will post 37.24 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares in the company, valued at approximately $4,554,500. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several hedge funds have recently modified their holdings of ELV. Sanders Capital LLC increased its position in Elevance Health by 4.6% in the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after purchasing an additional 196,010 shares during the last quarter. Capital International Investors increased its position in Elevance Health by 7.9% in the fourth quarter. Capital International Investors now owns 3,374,709 shares of the company’s stock worth $1,591,237,000 after purchasing an additional 248,150 shares during the last quarter. Baillie Gifford & Co. increased its position in Elevance Health by 0.9% in the fourth quarter. Baillie Gifford & Co. now owns 3,087,904 shares of the company’s stock worth $1,456,132,000 after purchasing an additional 27,986 shares during the last quarter. Norges Bank bought a new stake in Elevance Health in the fourth quarter worth $1,347,434,000. Finally, Morgan Stanley increased its position in Elevance Health by 1.7% in the third quarter. Morgan Stanley now owns 2,784,714 shares of the company’s stock worth $1,212,521,000 after purchasing an additional 46,322 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s stock.

About Elevance Health

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.