Elevance Health (NYSE:ELV) Price Target Lowered to $505.00 at Mizuho

Elevance Health (NYSE:ELV) had its price objective cut by Mizuho from $585.00 to $505.00 in a research note published on Tuesday, Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on ELV. Barclays decreased their price objective on Elevance Health from $622.00 to $501.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Morgan Stanley decreased their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. Bank of America reiterated a “neutral” rating and issued a $530.00 price target (down from $646.00) on shares of Elevance Health in a research report on Thursday, July 18th. UBS Group cut their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Finally, Wells Fargo & Company reduced their target price on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Stock Down 0.0 %

Shares of ELV stock opened at $417.77 on Tuesday. Elevance Health has a one year low of $397.98 and a one year high of $567.26. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50. The stock has a fifty day moving average price of $496.81 and a 200 day moving average price of $519.96. The stock has a market cap of $96.89 billion, a P/E ratio of 15.23, a price-to-earnings-growth ratio of 1.23 and a beta of 0.85.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same quarter in the prior year, the company posted $8.99 EPS. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. Analysts predict that Elevance Health will post 32.93 earnings per share for the current year.

Elevance Health Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Activity

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the transaction, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.29% of the stock is owned by insiders.

Institutional Trading of Elevance Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ELV. Bedel Financial Consulting Inc. boosted its stake in shares of Elevance Health by 1.6% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock valued at $647,000 after purchasing an additional 20 shares during the last quarter. American Trust boosted its stake in Elevance Health by 2.6% in the first quarter. American Trust now owns 775 shares of the company’s stock valued at $402,000 after acquiring an additional 20 shares during the last quarter. Private Ocean LLC boosted its stake in Elevance Health by 6.7% in the second quarter. Private Ocean LLC now owns 348 shares of the company’s stock valued at $189,000 after acquiring an additional 22 shares during the last quarter. Hurlow Wealth Management Group Inc. grew its holdings in Elevance Health by 1.9% during the 2nd quarter. Hurlow Wealth Management Group Inc. now owns 1,229 shares of the company’s stock worth $666,000 after acquiring an additional 23 shares during the period. Finally, Cypress Wealth Services LLC raised its position in shares of Elevance Health by 3.5% during the 3rd quarter. Cypress Wealth Services LLC now owns 679 shares of the company’s stock valued at $353,000 after acquiring an additional 23 shares during the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

Elevance Health Company Profile

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.