Elevance Health (NYSE:ELV) Lowered to “Sector Perform” Rating by Royal Bank Of Canada

Elevance Health (NYSE:ELV) was downgraded by equities researchers at Royal Bank Of Canada from an “outperform” rating to a “sector perform” rating in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. They currently have a $358.00 target price on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 4.68% from the company’s previous close.

Several other research firms have also commented on ELV. TD Cowen reiterated a “buy” rating on shares of Elevance Health in a research note on Wednesday, November 26th. Weiss Ratings upgraded Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, January 12th. Zacks Research upgraded shares of Elevance Health from a “strong sell” rating to a “hold” rating in a report on Thursday, November 6th. Wolfe Research set a $425.00 price objective on shares of Elevance Health and gave the company an “outperform” rating in a report on Thursday, January 8th. Finally, Wells Fargo & Company cut their price target on Elevance Health from $424.00 to $391.00 and set an “overweight” rating on the stock in a research report on Friday. Twelve analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat, Elevance Health presently has an average rating of “Moderate Buy” and an average price target of $390.55.

Elevance Health Stock Down 1.1%

Shares of NYSE ELV opened at $342.01 on Tuesday. Elevance Health has a 12-month low of $273.71 and a 12-month high of $458.75. The stock’s fifty day simple moving average is $351.94 and its two-hundred day simple moving average is $329.16. The stock has a market capitalization of $76.01 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.93 and a beta of 0.50. The company has a current ratio of 1.54, a quick ratio of 1.56 and a debt-to-equity ratio of 0.70.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Wednesday, January 28th. The company reported $3.33 EPS for the quarter, topping the consensus estimate of $3.10 by $0.23. Elevance Health had a return on equity of 15.59% and a net margin of 2.84%.The firm had revenue of $49.31 billion during the quarter, compared to analyst estimates of $49.52 billion. During the same period in the previous year, the company posted $3.84 EPS. The business’s revenue for the quarter was up 9.6% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 25.500- EPS. As a group, analysts expect that Elevance Health will post 33.96 EPS for the current fiscal year.

Institutional Trading of Elevance Health

Several hedge funds have recently made changes to their positions in ELV. Norges Bank purchased a new stake in Elevance Health in the 2nd quarter valued at about $1,148,379,000. Sanders Capital LLC increased its position in shares of Elevance Health by 24.7% during the second quarter. Sanders Capital LLC now owns 5,825,208 shares of the company’s stock valued at $2,265,773,000 after acquiring an additional 1,152,440 shares during the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Elevance Health by 24.5% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,576,805 shares of the company’s stock valued at $1,478,857,000 after acquiring an additional 901,626 shares during the period. First Eagle Investment Management LLC lifted its holdings in shares of Elevance Health by 25.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 3,998,603 shares of the company’s stock worth $1,292,029,000 after acquiring an additional 798,457 shares during the last quarter. Finally, Beutel Goodman & Co Ltd. purchased a new position in shares of Elevance Health during the 2nd quarter worth approximately $293,141,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Elevance Health Company Profile

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.