Elevance Health Inc [NYSE: ELV] price plunged by -10.59 percent to reach at -$52.61.
The one-year ELV stock forecast points to a potential upside of 25.42. The average equity rating for ELV stock is currently 1.57, trading closer to a bullish pattern in the stock market.
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Guru’s Opinion on Elevance Health Inc [ELV]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ELV shares is $595.83 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ELV stock is a recommendation set at 1.57. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
BofA Securities have made an estimate for Elevance Health Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 18, 2024. While these analysts kept the previous recommendation, Morgan Stanley raised their target price to Overweight. The new note on the price target was released on June 24, 2024, representing the official price target for Elevance Health Inc stock. Previously, the target price had yet another raise to $649, while Robert W. Baird analysts kept a Outperform rating on ELV stock.
The Average True Range (ATR) for Elevance Health Inc is set at 17.50, with the Price to Sales ratio for ELV stock in the period of the last 12 months amounting to 0.60. The Price to Book ratio for the last quarter was 2.44. Price to Free Cash Flow for ELV in the course of the last twelve months was 125.66.
ELV Stock Performance Analysis:
Elevance Health Inc [ELV] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -9.72. With this latest performance, ELV shares dropped by -17.63% in over the last four-week period, additionally sinking by -15.39% over the last 6 months – not to mention a drop of -4.58% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ELV stock in for the last two-week period is set at 25.27, with the RSI for the last a single of trading hit 23.40, and the three-weeks RSI is set at 27.71 for Elevance Health Inc [ELV]. The present Moving Average for the last 50 days of trading for this stock 528.12, while it was recorded at 487.22 for the last single week of trading, and 518.80 for the last 200 days.
Insight into Elevance Health Inc Fundamentals:
Elevance Health Inc’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.49.
ELV Stock EPS
With the latest financial reports released by the company, Elevance Health Inc posted 8.99/share EPS, while the average EPS was predicted by analysts to be reported at 8.44/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 0.55. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ELV. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Elevance Health Inc go to 12.09%.
Elevance Health Inc [ELV] Institutonal Ownership Details
There are presently around $93.93%, or 94.11%% of ELV stock, in the hands of institutional investors. The top three institutional holders of ELV stocks are: VANGUARD GROUP INC with ownership of 21.21 million shares, which is approximately 9.1134%. BLACKROCK INC., holding 20.7 million shares of the stock with an approximate value of $$11.22 billion in ELV stocks shares; and BLACKROCK INC., currently with $$6.31 billion in ELV stock with ownership which is approximately 5.005%.
