Barclays Forecasts Strong Price Appreciation for Elevance Health (NYSE:ELV) Stock

Elevance Health (NYSE:ELV) had its price target raised by stock analysts at Barclays from $501.00 to $512.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 27.54% from the stock’s previous close.

Several other analysts have also issued reports on ELV. Royal Bank of Canada reduced their target price on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. Truist Financial reduced their price objective on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research report on Monday, January 6th. Cantor Fitzgerald dropped their target price on shares of Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. Stephens lowered Elevance Health from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $520.00 to $440.00 in a report on Wednesday. Finally, Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Three analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $525.60.

Elevance Health Trading Up 0.0 %

NYSE:ELV opened at $401.43 on Friday. 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 has a one year low of $362.21 and a one year high of $567.26. The company has a market cap of $93.10 billion, a PE ratio of 14.63, a PEG ratio of 1.11 and a beta of 0.84. The firm has a 50-day moving average of $386.21 and a 200-day moving average of $462.34.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 EPS for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. As a group, equities research analysts expect that Elevance Health will post 32.95 EPS for the current fiscal year.

Hedge Funds Weigh In On Elevance Health

A number of large investors have recently made changes to their positions in the stock. Czech National Bank boosted its stake in Elevance Health by 6.5% in the 4th quarter. Czech National Bank now owns 50,286 shares of the company’s stock worth $18,551,000 after purchasing an additional 3,049 shares during the period. Iridian Asset Management LLC CT boosted its position in shares of Elevance Health by 10.7% in the third quarter. Iridian Asset Management LLC CT now owns 39,154 shares of the company’s stock valued at $20,360,000 after acquiring an additional 3,786 shares during the period. International Assets Investment Management LLC boosted its position in shares of Elevance Health by 85,533.1% in the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after acquiring an additional 532,016 shares during the period. Benjamin Edwards Inc. increased its holdings in Elevance Health by 1,711.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 53,559 shares of the company’s stock worth $27,858,000 after acquiring an additional 50,603 shares during the period. Finally, Diversified Trust Co increased its holdings in Elevance Health by 13.7% during the 4th quarter. Diversified Trust Co now owns 22,576 shares of the company’s stock worth $8,328,000 after acquiring an additional 2,725 shares during the period. 89.24% of the stock is owned by institutional investors.

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.