Elevance Health (NYSE:ELV) Price Target Raised to $510.00 at Truist Financial

Elevance Health (NYSE:ELV) had its price objective upped by Truist Financial from $480.00 to $510.00 in a research note issued on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s target price suggests a potential upside of 15.96% from the company’s previous close.

A number of other research analysts have also recently commented on ELV. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a report on Friday, January 24th. Stephens cut Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $520.00 to $440.00 in a research report on Wednesday, January 22nd. Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the company an “overweight” rating in a report on Friday, January 24th. Argus raised shares of Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 target price on the stock in a report on Monday, March 17th. Finally, Sanford C. Bernstein reissued an “outperform” rating on shares of Elevance Health in a report on Friday, March 28th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $521.47.

Elevance Health Trading Up 0.8 %

Elevance Health stock opened at $439.80 on Friday. The business has a 50 day moving average price of $412.93 and a two-hundred day moving average price of $413.32. The company has a quick ratio of 1.50, a current ratio of 1.45 and a debt-to-equity ratio of 0.71. Elevance Health has a 12 month low of $362.21 and a 12 month high of $567.26. The stock has a market cap of $99.56 billion, a price-to-earnings ratio of 17.17, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

Elevance Health (NYSE:ELV) last issued its earnings results 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 18.28% and a net margin of 3.38%. As a group, equities analysts forecast that Elevance Health will post 33.96 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Ronald W. Penczek sold 443 shares of Elevance Health stock in a transaction on Monday, March 10th. The stock was sold at an average price of $415.13, for a total transaction of $183,902.59. Following the completion of the sale, the chief accounting officer now directly owns 1,847 shares of the company’s stock, valued at $766,745.11. The trade was a 19.34 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total value of $1,388,635.20. Following the completion of the transaction, the executive vice president now directly owns 10,116 shares in the company, valued at $4,008,970.80. The trade was a 25.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Several large investors have recently bought and sold shares of the company. Accredited Wealth Management LLC acquired a new position in shares of Elevance Health in the 4th quarter valued at $25,000. Flagship Wealth Advisors LLC acquired a new position in Elevance Health in the fourth quarter valued at about $26,000. Riverview Trust Co increased its holdings in shares of Elevance Health by 1,340.0% in the first quarter. Riverview Trust Co now owns 72 shares of the company’s stock worth $31,000 after acquiring an additional 67 shares in the last quarter. WealthTrak Capital Management LLC acquired a new stake in shares of Elevance Health during the fourth quarter worth about $29,000. Finally, Lee Danner & Bass Inc. bought a new position in shares of Elevance Health during the 4th quarter valued at about $30,000. Institutional investors own 89.24% of the company’s stock.

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.