Elevance Health’s (ELV) Overweight Rating Reiterated at Cantor Fitzgerald

Elevance Health (NYSE:ELV)‘s stock had its “overweight” rating restated by Cantor Fitzgerald in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $485.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 21.56% from the company’s previous close.

Several other research firms also recently issued reports on ELV. Wells Fargo & Company reduced their price target on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating for the company in a research report on Monday, November 4th. UBS Group reduced their price objective on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating for the company in a report on Friday, October 18th. Morgan Stanley lowered their target price on shares of Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a report on Wednesday, October 23rd. Barclays lifted their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a report on Monday, January 6th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $525.60.

Elevance Health Trading Down 0.6 %

Shares of NYSE ELV traded down $2.38 during midday trading on Friday, reaching $398.98. The stock had a trading volume of 342,642 shares, compared to its average volume of 1,799,672. Elevance Health has a twelve month low of $362.21 and a twelve month high of $567.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.50 and a current ratio of 1.50. The company’s 50 day moving average price is $386.32 and its 200 day moving average price is $463.64. The firm has a market cap of $92.53 billion, a price-to-earnings ratio of 14.55, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, topping analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. As a group, sell-side analysts expect that Elevance Health will post 32.95 EPS for the current year.

Institutional Investors Weigh In On Elevance Health

Several large investors have recently added to or reduced their stakes in ELV. Raelipskie Partnership purchased a new stake in shares of Elevance Health in the 3rd quarter valued at about $26,000. PSI Advisors LLC purchased a new stake in Elevance Health in the third quarter valued at approximately $27,000. Eastern Bank bought a new stake in Elevance Health during the third quarter valued at approximately $31,000. Crews Bank & Trust purchased a new position in Elevance Health in the 4th quarter worth approximately $34,000. Finally, Dunhill Financial LLC grew its position in Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after acquiring an additional 26 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

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.