Argus Reiterates “Hold” Rating for Elevance Health (NYSE:ELV)

Elevance Health (NYSE:ELV)‘s stock had its “hold” rating reiterated by analysts at Argus in a research report issued to clients and investors on Wednesday,Benzinga reports. They presently have a $405.40 price objective on the stock. Argus’ price objective indicates a potential upside of 1.51% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Raymond James set a $485.00 price target on Elevance Health in a report on Friday, October 18th. Barclays raised their price target on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Wells Fargo & Company dropped their price objective on shares of Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research report on Tuesday. Mizuho decreased their target price on Elevance Health from $585.00 to $505.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 5th. Finally, Truist Financial reduced their price target on Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Four research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $517.03.

Elevance Health Stock Down 0.2 %

Elevance Health stock opened at $399.36 on Wednesday. The company has a market cap of $92.62 billion, a P/E ratio of 14.56, a price-to-earnings-growth ratio of 1.11 and a beta of 0.84. The company has a fifty day simple moving average of $386.71 and a 200 day simple moving average of $459.16. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56. 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 quarterly earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share 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%. Research analysts anticipate that Elevance Health will post 32.95 earnings per share for the current fiscal year.

Institutional Trading of Elevance Health

Institutional investors and hedge funds have recently modified their holdings of the business. Palouse Capital Management Inc. acquired a new stake in shares of Elevance Health in the 4th quarter valued at approximately $1,501,000. Allworth Financial LP lifted its stake in Elevance Health by 103.9% in the 4th quarter. Allworth Financial LP now owns 2,688 shares of the company’s stock valued at $1,050,000 after purchasing an additional 1,370 shares during the last quarter. Strategic Financial Concepts LLC acquired a new stake in shares of Elevance Health during the 4th quarter valued at $21,232,000. Principal Securities Inc. raised its position in Elevance Health by 15.6% in the fourth quarter. Principal Securities Inc. now owns 18,374 shares of the company’s stock valued at $6,778,000 after purchasing an additional 2,475 shares during the last quarter. Finally, Roxbury Financial LLC acquired a new stake in shares of Elevance Health during the fourth quarter valued at about $190,000. 89.24% of the stock is currently owned by institutional investors.

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.