Elevance Health (NYSE:ELV) Share Rating Reaffirmed by Cantor Fitzgerald

Elevance Health (NYSE:ELV – Get a Free Report)Cantor Fitzgerald reiterated an “overweight” rating on the stock in a note to investors on Tuesday, Benzinga reports. They currently have a $600.00 price objective on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 10.42% from the stock’s previous close.

Other analysts have recently issued research reports on the company. Wells Fargo & Company cut their price target on Elevance Health from $600.00 to $593.00 and set an “overweight” rating for the company in a research report on Monday, July 22nd. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 6th. TD Cowen cut their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Barclays cut their price target on Elevance Health from $621.00 to $611.00 and set an “overweight” rating for the company in a research report on Thursday, July 18th. Finally, Baird RW upgraded Elevance Health to a “strong-buy” rating in a research report on Thursday, May 30th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Elevance Health currently has an average rating of “Buy” and a consensus price target of $604.29, according to MarketBeat.

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Elevance Health stock fell 0.1%

Shares of ELV opened at $543.39 on Tuesday. Elevance Health has a fifty-two week low of $431.38 and a fifty-two week high of $567.26. The company’s 50-day moving average is $534.39, and its two-hundred-day moving average is $527.27. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49, and a current ratio of 1.49. The company has a market cap of $126.01 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 1.19 and a beta of 0.82.

Elevance Health (NYSE:ELV – Get Free Report ) last posted its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The business had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The company’s quarterly revenue was down 0.4% year-over-year. In the same quarter last year, the company posted earnings of $9.04 per share. As a group, analysts forecast that Elevance Health will post 37.25 earnings per share for the current year.

Insiders place their bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. In other news, Director Ramiro G. Peru sold 753 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The sale was disclosed in a legal filing with the SEC, which can be accessed via this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction on Friday, July 19th. The shares were sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares in the company, valued at $4,926,213.96. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock worth $17,588,116 over the last ninety days. Corporate insiders own 0.35% of the company’s shares.

Hedge funds influence the health of Elevance

Hedge funds have recently made changes to their positions in the company. Sanders Capital LLC grew its holdings in shares of Elevance Health by 4.6% in the fourth quarter. Sanders Capital LLC now owns 4,457,986 shares of the company’s stock worth $2,102,208,000 after buying an additional 196,010 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Elevance Health by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after buying an additional 190,118 shares in the last quarter. Capital International Investors boosted its holdings in shares of Elevance Health by 3.7% in the first quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after buying an additional 123,802 shares in the last quarter. Norges Bank acquired a new position in shares of Elevance Health in the fourth quarter valued at about $1,347,434,000. Finally, Legal & General Group Plc boosted its holdings in shares of Elevance Health by 2.9% in the second quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock worth $1,217,607,000 after buying an additional 64,376 shares in the last quarter. Hedge funds and other institutional investors own 89.24% of the company’s shares.

Elevance Health Company Profile

(Get a free report)

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. Offers a variety of health plans and services to program members; health products; a range of fee-based managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability and supplemental health insurance benefits.

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