Zacks Research Equities Analysts Raise Earnings Estimates for Elevance Health, Inc. (NYSE:ELV)

Elevance Health, Inc. (NYSE:ELV) – Analysts at Zacks Research boosted their Q3 2024 earnings estimates for shares of Elevance Health in a research report issued on Wednesday, April 24th. Zacks Research analyst K. Dey now anticipates that the company will post earnings per share of $9.79 for the quarter, up from their prior estimate of $9.66. The consensus estimate for Elevance Health’s current full-year earnings is $37.25 per share. Zacks Research also issued estimates for Elevance Health’s Q4 2024 earnings at $6.53 EPS, FY2024 earnings at $37.21 EPS, Q1 2025 earnings at $11.80 EPS, Q2 2025 earnings at $11.49 EPS, Q3 2025 earnings at $10.83 EPS, Q4 2025 earnings at $7.31 EPS, FY2025 earnings at $41.44 EPS and FY2026 earnings at $46.69 EPS.

Elevance Health (NYSE:ELV) last announced its earnings results on Thursday, April 18th. The company reported $10.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $10.54 by $0.10. Elevance Health had a net margin of 3.64% and a return on equity of 20.62%. The business had revenue of $42.27 billion for the quarter, compared to analyst estimates of $42.49 billion. During the same quarter last year, the business earned $9.46 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year.

Several other brokerages have also recently commented on ELV. UBS Group boosted their price target on Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research report on Friday, April 19th. Truist Financial reiterated a “buy” rating and issued a $600.00 target price (up from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. Mizuho boosted their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays increased their price objective on shares of Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $587.42.

Elevance Health Price Performance

NYSE:ELV opened at $539.70 on Thursday. The stock has a 50 day moving average of $511.40 and a two-hundred day moving average of $485.81. Elevance Health has a 12 month low of $412.00 and a 12 month high of $542.07. The firm has a market cap of $125.44 billion, a P/E ratio of 20.40, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a yield of 1.21%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Buying and Selling at Elevance Health

In other news, EVP Felicia F. Norwood sold 14,111 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $533.74, for a total transaction of $7,531,605.14. Following the completion of the transaction, the executive vice president now directly owns 31,460 shares in the company, valued at approximately $16,791,460.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, EVP Felicia F. Norwood sold 14,111 shares of the business’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the sale, the executive vice president now directly owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The disclosure for this sale can be found here. Company insiders own 0.35% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Institutional investors and hedge funds have recently modified their holdings of the company. OFI Invest Asset Management purchased a new stake in Elevance Health during the 3rd quarter worth approximately $25,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Elevance Health during the fourth quarter worth $28,000. Alaska Permanent Fund Corp purchased a new stake in shares of Elevance Health during the fourth quarter worth $31,000. Beaird Harris Wealth Management LLC acquired a new stake in shares of Elevance Health in the fourth quarter valued at $32,000. Finally, Register Financial Advisors LLC purchased a new position in Elevance Health in the first quarter valued at $32,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

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.