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

Elevance Health (NYSE:ELV) had its target price raised by research analysts at Mizuho from $455.00 to $505.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “outperform” rating on the stock. Mizuho’s price target would suggest a potential upside of 15.80% from the company’s current price.

ELV has been the subject of several other reports. Truist Financial cut their price target on shares of Elevance Health from $520.00 to $480.00 and set a “buy” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald reissued an “overweight” rating and set a $485.00 price objective on shares of Elevance Health in a research note on Friday, January 24th. Wells Fargo & Company decreased their target price on Elevance Health from $483.00 to $478.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 28th. Argus upgraded Elevance Health from a “hold” rating to a “buy” rating and set a $450.00 price target for the company in a research report on Monday, March 17th. Finally, Barclays upped their price objective on shares of Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research report on Friday, January 24th. Two investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $519.71.

Elevance Health Price Performance

Shares of NYSE ELV opened at $436.08 on Wednesday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.50 and a current ratio of 1.45. Elevance Health has a fifty-two week low of $362.21 and a fifty-two week high of $567.26. The stock has a market cap of $98.72 billion, a PE ratio of 17.03, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The stock has a fifty day moving average of $412.18 and a 200-day moving average of $413.88.

Elevance Health (NYSE:ELV) last posted its earnings results on Thursday, January 23rd. The company reported $3.84 earnings per share for the quarter, beating analysts’ consensus estimates of $3.80 by $0.04. Elevance Health had a return on equity of 18.28% and a net margin of 3.38%. Equities research analysts anticipate that Elevance Health will post 33.96 earnings per share for the current year.

Insider Buying and Selling at Elevance Health

In related news, CAO Ronald W. Penczek sold 443 shares of the company’s stock in a transaction on Monday, March 10th. The shares were 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 in the company, valued at $766,745.11. This represents a 19.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Charles Morgan Kendrick, Jr. sold 3,504 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $396.30, for a total transaction of $1,388,635.20. Following the sale, the executive vice president now directly owns 10,116 shares of the company’s stock, 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. Corporate insiders own 0.35% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ELV. Milestone Asset Management LLC increased its stake in shares of Elevance Health by 2.2% during the first quarter. Milestone Asset Management LLC now owns 1,122 shares of the company’s stock valued at $488,000 after buying an additional 24 shares during the period. Tobam raised its holdings in Elevance Health by 6.6% in the 4th quarter. Tobam now owns 434 shares of the company’s stock worth $160,000 after purchasing an additional 27 shares in the last quarter. Jacobi Capital Management LLC raised its holdings in Elevance Health by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 882 shares of the company’s stock worth $325,000 after purchasing an additional 27 shares in the last quarter. Austin Private Wealth LLC boosted its stake in shares of Elevance Health by 1.5% during the 4th quarter. Austin Private Wealth LLC now owns 1,996 shares of the company’s stock valued at $736,000 after purchasing an additional 29 shares in the last quarter. Finally, Quent Capital LLC boosted its stake in shares of Elevance Health by 2.1% during the 4th quarter. Quent Capital LLC now owns 1,488 shares of the company’s stock valued at $549,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

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.