Elevance Health (NYSE:ELV) Price Target Lowered to $501.00 at Barclays

Elevance Health (NYSE:ELV) had its price objective decreased by Barclays from $622.00 to $501.00 in a report released on Tuesday, Benzinga reports. Barclays currently has an overweight rating on the stock.

A number of other research analysts also recently weighed in on the company. UBS Group cut their price objective on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a research report on Friday. Morgan Stanley initiated coverage on Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target on the stock. Stephens reaffirmed an “underperform” rating on shares of Elevance Health in a research report on Friday. Finally, Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $557.20.

Elevance Health Stock Down 0.6 %

Shares of ELV stock opened at $419.84 on Tuesday. The stock’s 50 day simple moving average is $522.44 and its 200 day simple moving average is $526.65. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health has a twelve month low of $397.98 and a twelve month high of $567.26. The company has a market capitalization of $97.58 billion, a price-to-earnings ratio of 15.87, a PEG ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The company had revenue of $44.72 billion during the quarter, compared to the consensus estimate of $43.47 billion. During the same period in the previous year, the business posted $8.99 earnings per share. The firm’s revenue was up 5.3% on a year-over-year basis. As a group, research analysts predict that Elevance Health will post 37.26 EPS for the current year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Thursday, December 5th. Elevance Health’s dividend payout ratio is 24.64%.

Insider Activity at Elevance Health

In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares of the company’s stock, valued at $3,639,915.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the business’s stock in a transaction on Friday, October 18th. The stock was 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 directly owns 8,423 shares in the company, valued at approximately $3,639,915.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Elevance Health

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank & Trust Co acquired a new position in Elevance Health in the second quarter worth $27,000. Opal Wealth Advisors LLC acquired a new position in Elevance Health in the second quarter worth $28,000. Palisade Asset Management LLC acquired a new position in Elevance Health in the first quarter worth $28,000. Eastern Bank acquired a new position in Elevance Health in the third quarter worth $31,000. Finally, Register Financial Advisors LLC acquired a new position in Elevance Health in the first quarter worth $32,000. Institutional investors and hedge funds 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.