Elevance Health (NYSE:ELV) Rating Increased to Buy at StockNews.com

StockNews.com upgraded shares of Elevance Health (NYSE:ELV) from a hold rating to a buy rating in a research report sent to investors on Saturday.

Other equities analysts also recently issued research reports about the stock. Stephens downgraded shares of Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $520.00 to $440.00 in a report on Wednesday, January 22nd. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price target on shares of Elevance Health in a report on Friday, January 24th. Wells Fargo & Company reduced their price target on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating for the company in a report on Tuesday, January 28th. Argus reissued a “hold” rating and set a $405.40 price target on shares of Elevance Health in a report on Wednesday, January 29th. Finally, Mizuho reduced their price target on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Up 1.1 %

ELV stock opened at $397.09 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.45 and a quick ratio of 1.50. Elevance Health has a 1-year low of $362.21 and a 1-year high of $567.26. The firm has a fifty day moving average price of $387.78 and a two-hundred day moving average price of $439.07. The firm has a market cap of $90.28 billion, a price-to-earnings ratio of 15.51, a PEG ratio of 1.18 and a beta of 0.83.

Elevance Health (NYSE:ELV) last released its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. Research analysts predict that Elevance Health will post 33.96 EPS for the current year.

Elevance Health Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, March 25th. Shareholders of record on Monday, March 10th will be issued a $1.71 dividend. This represents a $6.84 dividend on an annualized basis and a yield of 1.72%. This is an increase from Elevance Health’s previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Monday, March 10th. Elevance Health’s dividend payout ratio is presently 26.71%.

Institutional Investors Weigh In On Elevance Health

Institutional investors and hedge funds have recently bought and sold shares of the business. Raelipskie Partnership acquired a new stake in Elevance Health in the 3rd quarter valued at about $26,000. Accredited Wealth Management LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at about $25,000. Flagship Wealth Advisors LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at about $26,000. Dunhill Financial LLC increased its holdings in shares of Elevance Health by 57.8% in the 3rd quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the period. Finally, WealthTrak Capital Management LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at about $29,000. 89.24% of the stock is owned by institutional investors and hedge funds.

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.