Elevance Health (NYSE:ELV) Earns Neutral Rating from Robert W. Baird

Elevance Health (NYSE:ELV)‘s stock had its “neutral” rating restated by Robert W. Baird in a research report issued on Tuesday,Benzinga reports. They currently have a $529.00 price target on the stock, down from their previous price target of $625.00. Robert W. Baird’s target price suggests a potential upside of 19.95% from the stock’s previous close.

A number of other research firms also recently issued reports on ELV. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective for the company in a report on Monday, March 17th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $485.00 target price on shares of Elevance Health in a research report on Friday, January 24th. Guggenheim began coverage on shares of Elevance Health in a research report on Wednesday, April 9th. They set a “buy” rating and a $518.00 price target for the company. Truist Financial upped their price objective on shares of Elevance Health from $480.00 to $510.00 and gave the stock a “buy” rating in a report on Friday. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Three research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $514.41.

Elevance Health Stock Performance

NYSE ELV opened at $441.02 on Tuesday. 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 $99.84 billion, a P/E ratio of 17.22, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. The company’s 50 day moving average is $413.71 and its 200-day moving average is $411.99.

Elevance Health (NYSE:ELV) last posted its quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.80 by $0.04. Elevance Health had a net margin of 3.38% and a return on equity of 18.28%. Sell-side analysts predict that Elevance Health will post 33.96 earnings per share for the current year.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, valued at $4,008,970.80. This trade represents a 25.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the transaction, the chief accounting officer now directly owns 1,847 shares in the company, valued at approximately $766,745.11. This trade represents a 19.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elevance Health

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Accredited Wealth Management LLC acquired a new position in Elevance Health in the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC purchased a new stake in shares of Elevance Health in the fourth quarter valued at $26,000. OFI Invest Asset Management acquired a new position in Elevance Health in the fourth quarter valued at $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. acquired a new stake in Elevance Health in the 4th quarter worth about $30,000. Hedge funds and other 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.