Elevance Health, Inc. (NYSE:ELV) has been making waves in the healthcare industry with its innovative approaches to improving health and simplifying healthcare. As an ever-expanding company, it comes as no surprise that Elevance Health has gained the attention of investment analysts seeking lucrative opportunities for their clients.
According to Bloomberg Ratings reports, shares of Elevance Health have received a “Moderate Buy” average recommendation from twelve research firms currently covering the stock. This recommendation is based on the fact that eleven of these firms have issued a buy rating on the company while one firm has rated it a hold. The average 1-year target price among these brokerages is $569.27.
The high expectations are not without merit, however, as Elevance Health has continued to exceed analyst expectations quarter over quarter. In April 2019, Elevance Health announced quarterly earnings data revealing earnings per share of $9.46 – beating consensus estimates by $0.20. Additionally, despite already impressive net margins and return on equity sitting at 3.86% and 20.05% respectively, Elevance Health reported a revenue of $41.90 billion for the quarter compared to analyst estimates of $40.93 billion – up by 10.6% YoY.
To meet growing demands and continue making strides in the healthcare industry, Elevance Health operates through multiple segments including Commercial and Specialty Business, Government Business, CarelonRx and Other. The Commercial and Specialty Business segment provides insurance products and services such as stop loss, dental, vision, life, disability and supplemental health insurance for individuals looking to better their personal wellbeing – ultimately contributing towards the improvement of communities nationwide.
With such promising performance figures and an unwavering commitment to simplifying healthcare for all individuals across all levels of society through innovation-driven solutions; it is clear why so many analysts have recommended buying into Elevance Health’s future potential today!
[bs_slider_forecast ticker=”ELV”]
Analyst Reports Highlight Elevance Health’s Future Trajectory in the Market
Elevance Health, Inc. has been the center of attention for a plethora of analyst reports lately. With Royal Bank of Canada upgrading its rating from “sector perform” to “outperform,” and raising their price objective for the company from $523.00 to $572.00, there is a great deal of speculation about the health company’s future trajectory in the market.
On the other hand, TD Cowen cut their price target on shares of Elevance Health from $577.00 to $564.00 and set an “outperform” rating on the stock. Truist Financial also lowered its price target from $580.00 to $560, meanwhile Morgan Stanley upgraded shares of Elevance Health from an “equal weight” rating to an “overweight” rating with a lift on its price targeted for stock up from $500 to $571 in April 2021.
Furthermore, Loop Capital cut their price target on shares of Elevance Health from $565.00 to $550.00 while maintaining a “buy” rating on the stock in yet another report published in April 2021.
The shares of ELV opened at the NYSE at a price point of $450,40 per share last Friday, which hinted at cautionary optimism among investors regarding speculative investment decisions into Elevance Health stocks.
Elevance Health is widely recognized as one of America’s fast-growing headquartered healthcare companies with diverse interests ranging through Commercial and Specialty Business segments focused on providing insurance products and services such as stop-loss functionalities, vision supplements, dental support infrastructure alongside life and disability insurance covers.
Financial experts across multiple news outlets predict Elevance’s future success based upon recently announced adjustments within their portfolio structure exploring new pathways towards possible growth streams beyond current models like government administration overhauls or partnerships with CarelonRx-focused offerings aimed towards expanding various verticals in healthcare services provision coverage & distribution efforts to enhance consumer reach efficiency heavily backed by market insights.
There is also the news recently released that Elevance Health’s quarterly dividend was paid in full on June 23rd, 2021. Further boosting investor return potential and incentivizing potential buyers looking to establish long-term positions in the company coupled with a current annualized dividend of $5.92 per share and a dividend yield of 1.31%.
Recent financials suggest hedge funds and other institutional investors have been shuffling their portfolios around, making several changes to their positions in the New York Stock Exchange (NYSE)-listed firm from Berkshire Asset Management LLC PA to EP Wealth Advisors LLC; Level Four Advisory Services LLC boosted its holdings by over fifty percent, while Ontario Teachers Pension Plan Board’s increased their holdings by three-quarters of a percent and Golden State Equity Partners purchase new stakes valued at about $1,298,000.
Overall Elevance Health looks firmly on track to build upon the momentum attained in recent years based upon market penetration efforts supported by an ideal operating infrastructure managing towards future profitability goals – optimized through consistent & precise performance benchmarks aimed as steady growth trajectory augmentation strategies targeted towards industrial medical needs across diverse populations ecosystems nationally and globally.