Elevance Health, Inc. (ELV) is a major health insurance and managed care company with a market cap of $72.1 billion. Based in Indiana, it offers a variety of health plans and services, including pharmacy, behavioral health, and care management through its Carelon division.

Despite a challenging year, ELV stock has fallen 19% over the past 52 weeks and 12% YTD, trailing the S&P 500 Index. The Health Care Select Sector SPDR Fund (XLV) also outperformed ELV in the same period.

Earnings report released on Oct. 21 showed ELV’s shares dipped 1.3%, despite exceeding revenue and EPS expectations. Operating cash flow was lower due to a payment tied to a settlement agreement, impacting investor sentiment.

Analysts predict a 9.2% decline in ELV’s EPS for the current year. The consensus rating for the stock is a “Moderate Buy,” with analysts having varying opinions on its future performance.

Bernstein analyst Lance Wilkes maintained a “Buy” rating on ELV with a $420 price target. The mean price target suggests a 17% premium, with a high target predicting a 43.3% upside potential.

Kritika Sarmah did not hold positions in any mentioned securities. The article serves solely informational purposes and was originally published on Barchart.com.

Read more at Yahoo Finance: Are Wall Street Analysts Bullish on Elevance Health Stock?