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

Cantor Fitzgerald restated their overweight rating on shares of Elevance Health (NYSE:ELV) in a research note issued to investors on Friday,Benzinga reports. Cantor Fitzgerald currently has a $485.00 price target on the stock. Cantor Fitzgerald also issued estimates for Elevance Health’s FY2025 earnings at $34.57 EPS.

A number of other brokerages also recently commented on ELV. Argus downgraded Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. TD Cowen lowered their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research note on Monday, October 21st. Morgan Stanley dropped their target price on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 23rd. 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 report on Monday, November 4th. Finally, Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Elevance Health has an average rating of “Moderate Buy” and an average price target of $525.60.

Elevance Health Stock Performance

ELV stock opened at $401.43 on Friday. The stock’s 50 day simple moving average is $386.21 and its 200 day simple moving average is $461.87. Elevance Health has a 12-month low of $362.21 and a 12-month high of $567.26. The firm has a market cap of $93.10 billion, a P/E ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

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 net margin of 3.68% and a return on equity of 19.56%. As a group, equities research analysts predict that Elevance Health will post 32.95 EPS for the current year.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 25th. Investors of record on Monday, March 10th will be issued a dividend of $1.71 per share. This is a boost from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date is Monday, March 10th. This represents a $6.84 annualized dividend and a yield of 1.70%. Elevance Health’s payout ratio is presently 23.77%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ELV. Calamos Advisors LLC lifted its holdings in Elevance Health by 0.5% in the 4th quarter. Calamos Advisors LLC now owns 24,774 shares of the company’s stock valued at $9,139,000 after acquiring an additional 131 shares during the last quarter. Childress Capital Advisors LLC lifted its stake in Elevance Health by 13.8% during the fourth quarter. Childress Capital Advisors LLC now owns 691 shares of the company’s stock valued at $255,000 after purchasing an additional 84 shares during the last quarter. JB Capital LLC boosted its holdings in Elevance Health by 597.2% during the fourth quarter. JB Capital LLC now owns 9,384 shares of the company’s stock worth $3,462,000 after buying an additional 8,038 shares in the last quarter. Chicago Capital LLC increased its holdings in shares of Elevance Health by 7.2% in the fourth quarter. Chicago Capital LLC now owns 2,169 shares of the company’s stock valued at $800,000 after buying an additional 145 shares in the last quarter. Finally, Oregon Pacific Wealth Management LLC acquired a new stake in shares of Elevance Health during the 4th quarter valued at $532,000. 89.24% of the stock is 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.