Elevance Health (NYSE:ELV) Issues FY24 Earnings Guidance

Elevance Health (NYSE:ELVGet Free Report) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of at least $37.20 for the period, compared to the consensus EPS estimate of $37.28.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Jefferies Financial Group lifted their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a buy rating in a report on Friday, April 19th. Barclays boosted their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the stock an overweight rating in a report on Friday, April 19th. Truist Financial boosted their price objective on shares of Elevance Health from $600.00 to $620.00 and gave the stock a buy rating in a report on Monday. Morgan Stanley began coverage on shares of Elevance Health in a report on Monday, June 24th. They issued an overweight rating and a $643.00 price objective on the stock. Finally, Mizuho boosted their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the stock a buy rating in a report on Wednesday, April 24th. Fifteen equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Buy and an average price target of $612.79.

View Our Latest Research Report on ELV

Elevance Health Price Performance

ELV opened at $553.08 on Wednesday. The company has a 50-day moving average of $534.84 and a 200-day moving average of $514.58. The company has a market capitalization of $128.55 billion, a P/E ratio of 20.90, a PEG ratio of 1.17 and a beta of 0.84. Elevance Health has a 1-year low of $431.38 and a 1-year high of $555.35. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

Elevance Health (NYSE:ELVGet Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating analysts’ consensus estimates of $10.00 by $0.12. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. During the same quarter in the prior year, the firm earned $9.04 EPS. The company’s revenue for the quarter was down .4% compared to the same quarter last year. Equities analysts expect that Elevance Health will post 37.25 EPS for the current fiscal year.

Insider Activity at Elevance Health

In related news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the sale, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.35% of the company’s stock.

About Elevance Health

(Get Free Report)

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.

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Earnings History and Estimates for Elevance Health (NYSE:ELV)

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