Cantor Fitzgerald Reiterates Overweight Rating for Elevance Health (NYSE:ELV)

Elevance Health (NYSE:ELV)‘s stock had its “overweight” rating reissued by analysts at Cantor Fitzgerald in a research note issued to investors on Friday,Benzinga reports. They currently have a $485.00 price objective on the stock. Cantor Fitzgerald’s target price indicates a potential upside of 20.82% from the company’s previous close. Cantor Fitzgerald also issued estimates for Elevance Health’s FY2025 earnings at $34.57 EPS.

Other analysts have also recently issued reports about the company. TD Cowen dropped their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a report on Monday, October 21st. Wells Fargo & Company cut their price objective on shares of Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a report on Monday, November 4th. Stephens lowered shares of Elevance Health from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $520.00 to $440.00 in a report on Wednesday. UBS Group cut their price target on Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. Finally, Barclays lifted their price objective on Elevance Health from $501.00 to $512.00 and gave the stock an “overweight” rating in a research note on Friday. Three investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $525.60.

Elevance Health Trading Up 0.0 %

Shares of NYSE ELV opened at $401.43 on Friday. Elevance Health has a 1-year low of $362.21 and a 1-year high of $567.26. The company has a 50-day moving average of $386.21 and a two-hundred day moving average of $462.34. The company has a market cap of $93.10 billion, a PE ratio of 14.63, a P/E/G ratio of 1.11 and a beta of 0.84. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.56.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, January 23rd. The company reported $3.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.80 by $0.04. Elevance Health had a return on equity of 19.56% and a net margin of 3.68%. As a group, equities analysts expect that Elevance Health will post 32.95 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elevance Health

A number of hedge funds and other institutional investors have recently made changes to their positions in ELV. Raelipskie Partnership bought a new stake in shares of Elevance Health in the third quarter valued at about $26,000. PSI Advisors LLC bought a new stake in Elevance Health in the 3rd quarter valued at approximately $27,000. Eastern Bank acquired a new position in Elevance Health during the 3rd quarter worth approximately $31,000. Dunhill Financial LLC raised its holdings in shares of Elevance Health by 57.8% in the third quarter. Dunhill Financial LLC now owns 71 shares of the company’s stock valued at $37,000 after purchasing an additional 26 shares during the last quarter. Finally, Peterson Financial Group Inc. bought a new stake in shares of Elevance Health in the third quarter worth $44,000. 89.24% of the stock is currently owned by institutional investors and hedge funds.

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.