Elevance Health (NYSE:ELV) Upgraded at StockNews.com

Elevance Health (NYSE:ELV) was upgraded by research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Friday.

ELV has been the topic of several other research reports. TD Cowen decreased their target price on Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a report on Monday, October 21st. Wells Fargo & Company cut their price target on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research note on Monday, November 4th. Mizuho cut their price target on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research note on Tuesday, November 5th. Argus lowered Elevance Health from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Finally, Morgan Stanley cut their price target on Elevance Health from $643.00 to $551.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $536.53.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $384.26 on Friday. The business’s fifty day moving average price is $388.02 and its two-hundred day moving average price is $467.11. Elevance Health has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock has a market capitalization of $89.12 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.08 and a beta of 0.84. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.50 and a quick ratio of 1.50.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). The business had revenue of $44.72 billion for the quarter, compared to the consensus estimate of $43.47 billion. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $8.99 EPS. As a group, analysts predict that Elevance Health will post 32.96 EPS for the current fiscal year.

Institutional Trading of Elevance Health

A number of hedge funds have recently made changes to their positions in the business. Raelipskie Partnership acquired a new stake in Elevance Health during the 3rd quarter worth approximately $26,000. PSI Advisors LLC acquired a new stake in Elevance Health during the 3rd quarter worth approximately $27,000. Eastern Bank acquired a new stake in Elevance Health during the 3rd quarter worth approximately $31,000. Dunhill Financial LLC lifted its holdings in Elevance Health by 57.8% during the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock worth $37,000 after purchasing an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. acquired a new stake in Elevance Health during the 3rd quarter worth approximately $44,000. 89.24% of the stock is owned by institutional investors and hedge funds.

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.