Elevance Health (ELV) Receives a Buy from Wells Fargo

Wells Fargo analyst Steve Baxter maintained a Buy rating on Elevance Health (ELV – Research Report) today and set a price target of $557.00. The company’s shares closed last Friday at $507.35.

According to TipRanks, Baxter is an analyst with an average return of -0.7% and a 44.44% success rate. Baxter covers the Healthcare sector, focusing on stocks such as Humana, Elevance Health, and Molina Healthcare.

Currently, the analyst consensus on Elevance Health is a Strong Buy with an average price target of $577.67, which is a 13.86% upside from current levels. In a report released on March 26, Bank of America Securities also maintained a Buy rating on the stock with a $580.00 price target.

The company has a one-year high of $521.18 and a one-year low of $408.05. Currently, Elevance Health has an average volume of 1.03M.

Based on the recent corporate insider activity of 29 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.

Elevance Health (ELV) Company Description:

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.