Investors received a research note from StockNews.com’s equity research analysts on Thursday, in which they introduced themselves and stated that they would now be covering Elevance Health (NYSE: ELV). On the company’s recommendation, customers were encouraged to make a “strong buy” of the stock.
The most recent quarterly earnings report for the company Elevance Health was released on January 25, and the company’s stock symbol is NYSE: ELV.
The company announced that it had earnings per share (EPS) of $5.23 for the period, which is $0.03 more than the widely held projection that earnings per share will be $5.20.
As evidenced by their 3.85% net margin and 19.56% return on equity, Elevance Health had a productive and successful performance.
The revenue for the company’s most recent fiscal quarter was $39.67 billion, significantly higher than the average estimate of $39.62 billion ($39.62 billion).
The company generated earnings of $5.14 per share during the same period the year before.
The company’s quarterly revenue increased by 10.1% when measured against the results achieved during the same quarter in the preceding year.
Analysts specializing in market research have predicted that Elevance Health will earn 32.72 dollars per share in the current fiscal year.
When trading started on Thursday, a single share of Elevance Health was $456.48 per unit. Over the last year, the price of Elevance Health has ranged from a low of $440.02 to a high of $549.52 at various points.
The stock has traded at an average price of $479.23 over the past 50 trading days, while the price has averaged $491.87 over the previous 200 trading days.
The debt-to-equity, current, and quick ratios are all the same, coming in at 1.40 each.
The ratio of debt to equity is currently at 0.61.
The company’s market value is $108.40 billion; it has a PE ratio of 18.41, a price-to-earnings-growth ratio of 1.15, and a beta value of 0.85, all of which indicate that it is an excellent investment.
Additionally, the company has a price-to-earnings-growth ratio of 1.15, which is an excellent value.
Recently, the ELV has been the subject of numerous other reports.
The price target for Elevance Health was increased by Wells Fargo & Company on January 4, 2019, from $557.00 to $609.00, and the firm also assigned an “overweight” rating to the company’s stock.
The research note was made public. On January 30, Loop Capital published a research note that raised their price objective on Elevance Health shares.
The note was made public.
The previous price goal of $550.00 has been increased to the new price objective of $565.00.
In a report released on February 23, JPMorgan Chase & Co increased their price objective on shares of Elevance Health from $555.00 to $572.00 and gave the stock an “overweight” rating.
In a research note published on January 26, the Royal Bank of Canada upgraded Elevance Health to “sector perform” and increased their price objective on the stock from $505.00 to $523.00.
Additionally, they raised their price objective on the stock from $505.00 to $523.00.
The Royal Bank of Canada’s price objective has also been raised on the stock. SVB Leerink maintained its “outperform” rating on shares of Elevance Health and established a price objective of $580.00 for the company’s stock in a research report released on Thursday, January 26.
Two equity research analysts polled recommended keeping the stock in one’s portfolio.
In contrast, thirteen experts polled suggested purchasing the stock, and one analyst suggested a strong purchase.
The stock is currently rated as having a consensus rating of “Moderate Buy,” It has a price target of $583.89, as indicated by data that Bloomberg provided.
Price T. Rowe Associates INC, MD, made a new investment in Elevance Health during the fourth quarter of 2018 when they purchased a stake in the company for approximately $6,527,828,000.
In the most recent few months, a wide variety of prominent investors have either increased or decreased the amount of ELV they currently hold. Geode Capital Management LLC increased its holdings in Elevance Health during the fourth quarter by purchasing additional shares for $2,160,082,000.
This brought the company’s total investment in Elevance Health to $2,160,082,000. Sanders Capital LLC spent $1,991,235,000 throughout the December, January, and February 2019 quarters to acquire a new holding in Elevance Health.
Baillie Gifford & Co made a new investment in Elevance Health during the fourth quarter by purchasing a share in the company for a total cost of $1,936,996,000.
This was part of the company’s overall investment strategy.
The most recent transaction was completed during the fourth quarter, and it involved an investment of approximately $6,580,000 in Elevance Health by Edmp INC in the form of the purchase of new shares in the company.
The total ownership stake in the company is equivalent to 87.66% of the total number of shares outstanding, and institutional investors hold it.
Elevance Health, INC is a healthcare provider that works to enhance the quality of life of individuals and the communities in which they reside.
In addition, the company strives to broaden the range of treatment options available to people.
In the order listed above, its various business divisions are the Commercial and Specialty Business, Government Business, CareonRx Business, and Miscellaneous Business.
The Commercial and Specialty Business division provides stop-loss, dental, vision, life, disability, supplemental health insurance, and other products and services.