Elevance Health (NYSE:ELV) Price Target Cut to $390.00 by Analysts at Truist Financial

Elevance Health (NYSE:ELV) had its price target reduced by analysts at Truist Financial from $400.00 to $390.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective points to a potential upside of 14.00% from the stock’s previous close.

Several other analysts have also recently commented on the stock. Wells Fargo & Company lowered their target price on shares of Elevance Health from $424.00 to $391.00 and set an “overweight” rating for the company in a research note on Friday. Wall Street Zen raised Elevance Health from a “hold” rating to a “buy” rating in a report on Saturday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $332.00 price objective on shares of Elevance Health in a report on Thursday. The Goldman Sachs Group started coverage on Elevance Health in a research report on Tuesday, October 14th. They issued a “neutral” rating and a $343.00 target price on the stock. Finally, Weiss Ratings raised Elevance Health from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 12th. Thirteen analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $396.55.

Elevance Health Stock Down 1.1%

Elevance Health stock traded down $3.64 during trading hours on Monday, reaching $342.11. The stock had a trading volume of 190,130 shares, compared to its average volume of 1,682,022. The company has a market cap of $76.03 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.93 and a beta of 0.50. The business’s 50 day moving average price is $351.69 and its 200-day moving average price is $328.87. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.54 and a quick ratio of 1.56. Elevance Health has a 52 week low of $273.71 and a 52 week high of $458.75.

Elevance Health (NYSE:ELV) last announced its earnings results on Wednesday, January 28th. The company reported $3.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.10 by $0.23. Elevance Health had a net margin of 2.84% and a return on equity of 15.59%. The business had revenue of $49.31 billion for the quarter, compared to analyst estimates of $49.52 billion. During the same quarter last year, the business earned $3.84 earnings per share. The company’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. Sell-side analysts anticipate that Elevance Health will post 33.96 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nilsine Partners LLC lifted its stake in Elevance Health by 1.5% during the 3rd quarter. Nilsine Partners LLC now owns 1,918 shares of the company’s stock valued at $620,000 after acquiring an additional 29 shares in the last quarter. Sound View Wealth Advisors Group LLC grew its stake in shares of Elevance Health by 3.0% during the 4th quarter. Sound View Wealth Advisors Group LLC now owns 1,011 shares of the company’s stock worth $354,000 after purchasing an additional 29 shares during the period. Fulton Breakefield Broenniman LLC raised its stake in Elevance Health by 3.6% during the fourth quarter. Fulton Breakefield Broenniman LLC now owns 825 shares of the company’s stock worth $289,000 after purchasing an additional 29 shares during the period. Perigon Wealth Management LLC boosted its holdings in Elevance Health by 2.2% in the fourth quarter. Perigon Wealth Management LLC now owns 1,371 shares of the company’s stock valued at $481,000 after purchasing an additional 29 shares in the last quarter. Finally, Savvy Advisors Inc. increased its stake in Elevance Health by 3.2% in the 4th quarter. Savvy Advisors Inc. now owns 979 shares of the company’s stock valued at $343,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds 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.