Elevance Health (NYSE:ELV) Hits New 52-Week High – Time to Buy?

Shares of Elevance Health, Inc. (NYSE:ELV) hit a new 52-week high on Thursday . The stock traded as high as $427.64 and last traded at $424.5350, with a volume of 176318 shares traded. The stock had previously closed at $416.08.

Analysts Set New Price Targets

ELV has been the topic of several research analyst reports. Leerink Partners set a $364.00 target price on shares of Elevance Health in a research report on Thursday, April 23rd. Raymond James Financial set a $450.00 price target on shares of Elevance Health in a report on Tuesday. Citigroup upgraded shares of Elevance Health to a “buy” rating in a research note on Wednesday, April 29th. Truist Financial raised their target price on Elevance Health from $375.00 to $450.00 and gave the stock a “buy” rating in a research note on Monday, June 1st. Finally, UBS Group lifted their price target on Elevance Health from $400.00 to $460.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Fifteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $425.95.

Elevance Health Stock Down 0.9%

The company has a market capitalization of $90.46 billion, a price-to-earnings ratio of 17.72, a P/E/G ratio of 2.38 and a beta of 0.67. The business’s 50-day moving average is $397.16 and its 200-day moving average is $353.48. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last posted its earnings results on Wednesday, April 22nd. The company reported $12.58 EPS for the quarter, topping the consensus estimate of $10.74 by $1.84. Elevance Health had a return on equity of 15.58% and a net margin of 2.62%.The firm had revenue of $49.49 billion for the quarter, compared to analyst estimates of $48.21 billion. During the same period last year, the company earned $11.97 earnings per share. Elevance Health’s revenue for the quarter was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. As a group, equities analysts predict that Elevance Health, Inc. will post 26.86 earnings per share for the current year.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, June 25th. Investors of record on Wednesday, June 10th were given a dividend of $1.72 per share. This represents a $6.88 annualized dividend and a yield of 1.7%. The ex-dividend date was Wednesday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 29.26%.

Insiders Place Their Bets

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of Elevance Health stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total value of $60,667.27. Following the completion of the transaction, the director owned 10,734 shares of the company’s stock, valued at approximately $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.34% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

Several institutional investors and hedge funds have recently modified their holdings of ELV. WealthCollab LLC raised its position in shares of Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after buying an additional 27 shares during the last quarter. Kemnay Advisory Services Inc. acquired a new position in Elevance Health during the fourth quarter worth about $31,000. J.Safra Asset Management Corp acquired a new position in Elevance Health during the fourth quarter worth about $32,000. ORG Partners LLC grew its stake in Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after acquiring an additional 59 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Elevance Health in the 4th quarter valued at about $38,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

About Elevance Health

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.