Mizuho Issues Positive Forecast for Elevance Health (NYSE:ELV) Stock Price

Elevance Health (NYSE:ELV) had its target price boosted by Mizuho from $455.00 to $505.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Mizuho’s target price would indicate a potential upside of 17.31% from the company’s previous close.

Other analysts have also recently issued reports about the company. Truist Financial cut their target price on Elevance Health from $520.00 to $480.00 and set a “buy” rating on the stock in a research note on Monday, January 6th. Wells Fargo & Company dropped their price target on Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a research note on Tuesday, January 28th. Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price objective on the stock in a research report on Monday, March 17th. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of Elevance Health in a research report on Friday, March 28th. Finally, Barclays boosted their price target on shares of Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $519.81.

Elevance Health Stock Up 1.7 %

Elevance Health stock opened at $430.48 on Wednesday. The company has a current ratio of 1.45, a quick ratio of 1.50 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $97.45 billion, a price-to-earnings ratio of 16.81, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The firm’s fifty day moving average price is $410.03 and its two-hundred day moving average price is $415.05. Elevance Health has a 1-year low of $362.21 and a 1-year high of $567.26.

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

Insider Activity at Elevance Health

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

Institutional Trading of Elevance Health

Institutional investors and hedge funds have recently modified their holdings of the stock. Accredited Wealth Management LLC purchased a new stake in Elevance Health in the fourth quarter worth about $25,000. Flagship Wealth Advisors LLC bought a new position in shares of Elevance Health in the 4th quarter worth $26,000. OFI Invest Asset Management bought a new position in shares of Elevance Health during the 4th quarter worth approximately $29,000. WealthTrak Capital Management LLC purchased a new position in Elevance Health during the 4th quarter worth $29,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Elevance Health during the fourth quarter valued at about $30,000. Institutional investors own 89.24% of the company’s stock.

About Elevance Health

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.