The stock of Elevance Health Inc (NYSE: ELV) has decreased by -2.35 when compared to last closing price of 532.03. Despite this, the company has experienced a 1.07% gain in its stock price over the last five trading sessions. businesswire.com reported 2024-07-31 that INDIANAPOLIS–(BUSINESS WIRE)–Irvington Prep Academy in Indianapolis unveiled first ever weight room, fitness space, provided by Elevance Health and Impact Fitness Foundation.
Is It Worth Investing in Elevance Health Inc (NYSE: ELV) Right Now?
Elevance Health Inc (NYSE: ELV) has a higher price-to-earnings ratio of 18.21x compared to its average ratio, The 36-month beta value for ELV is at 0.85. Analysts have varying views on the stock, with 0 analysts rating it as a “buy,” 0 rating it as “overweight,” 0 as “hold,” and 0 as “sell.”
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The public float for ELV is 230.84M, and currently, shorts hold a 0.76% of that float. The average trading volume for ELV on August 01, 2024 was 1.08M shares.
ELV’s Market Performance
ELV’s stock has seen a 1.07% increase for the week, with a -3.06% drop in the past month and a -1.01% fall in the past quarter. The volatility ratio for the week is 2.48%, and the volatility levels for the past 30 days are at 2.19% for Elevance Health Inc The simple moving average for the last 20 days is -0.93% for ELV stock, with a simple moving average of 3.59% for the last 200 days.
Analysts’ Opinion of ELV
Many brokerage firms have already submitted their reports for ELV stocks, with BofA Securities repeating the rating for ELV by listing it as a “Neutral.” The predicted price for ELV in the upcoming period, according to BofA Securities is $530 based on the research report published on July 18, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see ELV reach a price target of $643. The rating they have provided for ELV stocks is “Overweight” according to the report published on June 24th, 2024.
Robert W. Baird gave a rating of “Outperform” to ELV, setting the target price at $649 in the report published on May 30th of the current year.
ELV Trading at -2.08% from the 50-Day Moving Average
After a stumble in the market that brought ELV to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -6.45% of loss for the given period.
Volatility was left at 2.19%, however, over the last 30 days, the volatility rate increased by 2.48%, as shares sank -1.81% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -3.84% lower at present.
During the last 5 trading sessions, ELV rose by +1.32%, which changed the moving average for the period of 200-days by +14.69% in comparison to the 20-day moving average, which settled at $523.93. In addition, Elevance Health Inc saw 10.17% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ELV starting from BOUDREAUX GAIL, who sale 34,000 shares at the price of $500.98 back on Jul 22 ’24. After this action, BOUDREAUX GAIL now owns 126,709 shares of Elevance Health Inc, valued at $17,033,395 using the latest closing price.
Dixon Robert L JR, the Director of Elevance Health Inc, sale 305 shares at $506.76 during a trade that took place back on Jul 19 ’24, which means that Dixon Robert L JR is holding 9,721 shares at $154,562 based on the most recent closing price.
Stock Fundamentals for ELV
Current profitability levels for the company are sitting at:
- 0.4 for the present operating margin
- 0.89 for the gross margin
The net margin for Elevance Health Inc stands at 0.04. The total capital return value is set at 0.98. Equity return is now at value 16.65, with 6.02 for asset returns.
Based on Elevance Health Inc (ELV), the company’s capital structure generated 0.4 points at debt to capital in total, while cash flow to debt ratio is standing at 0.07. The debt to equity ratio resting at 0.66. The interest coverage ratio of the stock is 65.42.
Currently, EBITDA for the company is 1.74 billion with net debt to EBITDA at 0.3. When we switch over and look at the enterprise to sales, we see a ratio of 0.83. The receivables turnover for the company is 15.36for trailing twelve months and the total asset turnover is 1.52. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.49.
Conclusion
In conclusion, Elevance Health Inc (ELV) has had a mixed performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It is worth mentioning that the stock is currently trading in close proximity to its 50-day moving average and its 52-week high.
