Elevance Health FY2024 EPS Forecast Cut by Leerink Partnrs

Elevance Health, Inc. (NYSE:ELV) – Leerink Partnrs lowered their FY2024 EPS estimates for shares of Elevance Health in a report issued on Sunday, October 20th. Leerink Partnrs analyst W. Mayo now anticipates that the company will post earnings per share of $33.02 for the year, down from their previous forecast of $37.21. The consensus estimate for Elevance Health’s current full-year earnings is $37.26 per share. Leerink Partnrs also issued estimates for Elevance Health’s Q4 2024 earnings at $3.88 EPS, Q1 2025 earnings at $10.35 EPS, Q2 2025 earnings at $8.94 EPS, Q3 2025 earnings at $9.66 EPS, Q4 2025 earnings at $5.68 EPS, FY2025 earnings at $34.63 EPS, FY2026 earnings at $44.16 EPS and FY2027 earnings at $52.36 EPS.

Several other equities research analysts have also recently issued reports on ELV. Raymond James set a $485.00 target price on shares of Elevance Health in a research report on Friday, October 18th. Argus cut shares of Elevance Health from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. TD Cowen decreased their target price on shares of Elevance Health from $589.00 to $484.00 and set a “buy” rating on the stock in a research report on Monday. UBS Group decreased their target price on shares of Elevance Health from $605.00 to $555.00 and set a “buy” rating on the stock in a research report on Friday, October 18th. Finally, Stephens reissued an “underperform” rating on shares of Elevance Health in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elevance Health has a consensus rating of “Moderate Buy” and an average target price of $551.07.

Elevance Health Price Performance

ELV opened at $418.75 on Wednesday. The company’s 50 day simple moving average is $519.97 and its 200 day simple moving average is $525.88. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49. Elevance Health has a 1 year low of $397.98 and a 1 year high of $567.26. The stock has a market capitalization of $97.33 billion, a PE ratio of 15.83, a P/E/G ratio of 1.08 and a beta of 0.82.

Elevance Health (NYSE:ELV) last released its quarterly earnings results on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $44.72 billion for the quarter, compared to analyst estimates of $43.47 billion. During the same period in the prior year, the business earned $8.99 earnings per share. Elevance Health’s revenue for the quarter was up 5.3% on a year-over-year basis.

Institutional Trading of Elevance Health

A number of hedge funds and other institutional investors have recently made changes to their positions in ELV. Pathway Financial Advisers LLC increased its stake in shares of Elevance Health by 51,967.1% in the third quarter. Pathway Financial Advisers LLC now owns 657,607 shares of the company’s stock worth $341,956,000 after buying an additional 656,344 shares during the last quarter. International Assets Investment Management LLC increased its stake in Elevance Health by 85,533.1% during the third quarter. International Assets Investment Management LLC now owns 532,638 shares of the company’s stock valued at $276,972,000 after purchasing an additional 532,016 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Elevance Health by 34.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock valued at $1,117,698,000 after purchasing an additional 523,910 shares during the last quarter. M&G Plc bought a new stake in Elevance Health during the first quarter valued at $203,389,000. Finally, Maj Invest Holding A S bought a new stake in Elevance Health during the second quarter valued at $173,753,000. Institutional investors own 89.24% of the company’s stock.

Insider Activity

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the sale, the executive vice president now owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of Elevance Health stock in a transaction on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.

Elevance Health Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Thursday, December 5th will be paid a dividend of $1.63 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.56%. Elevance Health’s dividend payout ratio is currently 24.64%.

Elevance Health Company Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.