JPMorgan Chase & Co. Increases Elevance Health (NYSE:ELV) Price Target to $572.00

Posted by Defense World Staff on Feb 25th, 2023

Elevance Health (NYSE:ELV – Get Rating) had its price target raised by equities researchers at JPMorgan Chase & Co. from $555.00 to $572.00 in a report released on Thursday, The Fly reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 19.66% from the company’s current price.

Several other research analysts have also recently weighed in on the company. Royal Bank of Canada boosted their price target on Elevance Health from $505.00 to $523.00 and gave the stock a “sector perform” rating in a research note on Thursday, January 26th. Wells Fargo & Company upped their price objective on Elevance Health from $557.00 to $609.00 and gave the company an “overweight” rating in a research report on Wednesday, January 4th. Loop Capital upped their price objective on Elevance Health from $550.00 to $565.00 in a research report on Monday, January 30th. SVB Leerink reiterated an “outperform” rating and set a $580.00 price objective on shares of Elevance Health in a research report on Thursday, January 26th. Finally, Mizuho upped their price objective on Elevance Health from $545.00 to $575.00 and gave the company a “buy” rating in a research report on Thursday, November 10th. Two equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Elevance Health currently has a consensus rating of “Moderate Buy” and an average price target of $584.42.

Elevance Health Stock Down 1.7 %

Shares of NYSE:ELV opened at $478.03 on Thursday. The stock has a fifty day simple moving average of $490.46 and a two-hundred day simple moving average of $494.19. The stock has a market capitalization of $113.51 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.22 and a beta of 0.85. Elevance Health has a 12-month low of $439.64 and a 12-month high of $549.52. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.61.

Elevance Health (NYSE:ELV – Get Rating) last posted its quarterly earnings results on Wednesday, January 25th. The company reported $5.23 earnings per share for the quarter, topping the consensus estimate of $5.20 by $0.03. Elevance Health had a return on equity of 19.56% and a net margin of 3.85%. The firm had revenue of $39.67 billion during the quarter, compared to analysts’ expectations of $39.62 billion. During the same quarter in the previous year, the business earned $5.14 earnings per share. The company’s revenue was up 10.1% on a year-over-year basis. On average, research analysts anticipate that Elevance Health will post 32.71 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Elevance Health

A number of hedge funds have recently made changes to their positions in the business. Plancorp LLC boosted its stake in shares of Elevance Health by 2.3% in the first quarter. Plancorp LLC now owns 1,436 shares of the company’s stock worth $705,000 after acquiring an additional 32 shares during the period. Merit Financial Group LLC boosted its stake in Elevance Health by 6.8% during the first quarter. Merit Financial Group LLC now owns 518 shares of the company’s stock valued at $254,000 after buying an additional 33 shares during the last quarter. Penserra Capital Management LLC boosted its stake in Elevance Health by 4.0% during the first quarter. Penserra Capital Management LLC now owns 1,205 shares of the company’s stock valued at $591,000 after buying an additional 46 shares during the last quarter. Crewe Advisors LLC bought a new position in Elevance Health during the fourth quarter valued at approximately $25,000. Finally, Moisand Fitzgerald Tamayo LLC bought a new position in Elevance Health during the fourth quarter valued at approximately $25,000. Institutional investors own 87.66% of the company’s stock.

Elevance Health Company Profile

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Elevance Health, Inc operates as a health company, which engages in improving lives and communities, and making healthcare simpler. The firm supports consumers, families, and communities across the entire care journey, connecting them to the care, support, and resources they need to lead healthier lives.