Jefferies analyst David Windley maintains $Elevance Health (ELV.US)$ with a buy rating, and adjusts the target price from $600 to $529.
According to TipRanks data, the analyst has a success rate of 62.6% and a total average return of 11.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Elevance Health (ELV.US)$'s main analysts recently are as follows:
Medicaid pressures are overshadowing the positive developments within the commercial and Carelon divisions of Elevance Health, following the company's third-quarter report.
Elevance Health experienced a setback with its Q3 earnings not meeting expectations and subsequent guidance reduction. The shares saw a decrease following management's revised 2024 EPS outlook, as the challenges within Medicaid were more significant than previously forecasted. Despite these short-term obstacles, the long-term perspective on the company remains stable, with the anticipation that the current Medicaid mix challenges will be temporary.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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