Elevance Health (ELV) Gets a Hold Rating from Morgan Stanley

In a report released today, Ricky Goldwasser from Morgan Stanley maintained a Hold rating on Elevance Health (ELVResearch Report), with a price target of $485.00. The company’s shares closed last Monday at $469.23.

According to TipRanks.com, Goldwasser is a 5-star analyst with an average return of 13.7% and a 64.2% success rate. Goldwasser covers the Healthcare sector, focusing on stocks such as Lifestance Health Group, Alignment Healthcare, and Quest Diagnostics.

Currently, the analyst consensus on Elevance Health is a Moderate Buy with an average price target of $540.50, implying a 16.3% upside from current levels. In a report issued on July 21, RBC Capital also maintained a Hold rating on the stock with a $505.00 price target.

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Elevance Health’s market cap is currently $110.8B and has a P/E ratio of 18.43.

Based on the recent corporate insider activity of 39 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ELV in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Indiana-based Anthem, Inc. was formed in 2004 after the merger of WellPoint Health Networks Inc. and Anthem, Inc. The company is one of the leading health insurance names, and provides medical benefits through a range of integrated healthcare plans and related services, along with a wide range of specialty products such as life and disability insurance benefits, dental, vision, behavioral health benefit services, as well as long-term care insurance and flexible spending accounts.

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