Elevance Health (NYSE:ELV) Lowered to “Hold” at Argus

Elevance Health (NYSE:ELV) was downgraded by Argus from a “buy” rating to a “hold” rating in a report issued on Friday, Briefing.com reports.

Several other research analysts also recently commented on ELV. Royal Bank of Canada raised their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research note on Thursday, July 18th. Wells Fargo & Company reduced their target price on shares of Elevance Health from $600.00 to $593.00 and set an “overweight” rating on the stock in a research report on Monday, July 22nd. Truist Financial increased their price objective on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Bank of America restated a “neutral” rating and set a $530.00 price objective (down from $646.00) on shares of Elevance Health in a report on Thursday, July 18th. Finally, Barclays increased their price target on Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $596.86.

Elevance Health Stock Down 10.2 %

Shares of NYSE:ELV opened at $446.09 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The business has a 50 day simple moving average of $528.77 and a two-hundred day simple moving average of $528.05. Elevance Health has a 1 year low of $397.98 and a 1 year high of $567.26. The firm has a market capitalization of $103.68 billion, a PE ratio of 16.86, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $9.66 by ($1.29). Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The business had revenue of $44.72 billion for the quarter, compared to analysts’ expectations of $43.47 billion. During the same quarter in the previous year, the firm earned $8.99 EPS. Elevance Health’s revenue was up 5.3% compared to the same quarter last year. On average, equities analysts predict that Elevance Health will post 37.26 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Ramiro G. Peru sold 753 shares of Elevance Health 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 completion of the sale, the director now directly owns 8,744 shares in the company, valued at approximately $4,647,610.88. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gail Boudreaux sold 34,000 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the sale, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.35% of the company’s stock.

Hedge Funds Weigh In On Elevance Health

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its stake in Elevance Health by 8.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after purchasing an additional 20 shares during the last quarter. Bedel Financial Consulting Inc. increased its holdings in Elevance Health by 1.6% in the 1st quarter. Bedel Financial Consulting Inc. now owns 1,247 shares of the company’s stock worth $647,000 after buying an additional 20 shares during the period. American Trust raised its position in Elevance Health by 2.6% during the 1st quarter. American Trust now owns 775 shares of the company’s stock worth $402,000 after buying an additional 20 shares during the last quarter. Fiduciary Alliance LLC lifted its stake in Elevance Health by 3.6% during the 1st quarter. Fiduciary Alliance LLC now owns 611 shares of the company’s stock valued at $315,000 after acquiring an additional 21 shares during the period. Finally, Ascent Wealth Partners LLC lifted its stake in Elevance Health by 1.8% during the 1st quarter. Ascent Wealth Partners LLC now owns 1,193 shares of the company’s stock valued at $619,000 after acquiring an additional 21 shares during the period. Hedge funds and other 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.