Elevance Health (ELV) Set to Announce Quarterly Earnings on Thursday

Elevance Health (NYSE:ELV) will be issuing its quarterly earnings data before the market opens on Thursday, April 18th. Analysts expect the company to announce earnings of $10.52 per share for the quarter. Persons that are interested in participating in the company’s earnings conference call can do so using this link.

Elevance Health (NYSE:ELV) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating the consensus estimate of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. During the same quarter in the prior year, the company posted $5.23 EPS. The company’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts expect Elevance Health to post $37 EPS for the current fiscal year and $41 EPS for the next fiscal year.

Elevance Health Stock Performance

Shares of Elevance Health stock opened at $500.27 on Tuesday. The business’s fifty day simple moving average is $507.68 and its 200-day simple moving average is $481.59. Elevance Health has a 52 week low of $412.00 and a 52 week high of $521.18. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm has a market cap of $116.41 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.09 and a beta of 0.78.

Elevance Health Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 22nd. Investors of record on Friday, March 8th were paid a dividend of $1.63 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. The ex-dividend date of this dividend was Thursday, March 7th. This represents a $6.52 annualized dividend and a yield of 1.30%. Elevance Health’s dividend payout ratio is presently 25.90%.

Analyst Upgrades and Downgrades

ELV has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on Elevance Health from $561.00 to $557.00 and set an “overweight” rating on the stock in a report on Monday, April 8th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 price objective on shares of Elevance Health in a report on Wednesday, April 10th. Royal Bank of Canada raised their price target on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. StockNews.com downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Finally, Barclays started coverage on Elevance Health in a research note on Wednesday, March 6th. They set an “overweight” rating and a $584.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $569.00.

Insider Activity

In other news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total value of $376,500.00. Following the completion of the sale, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

Several hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. lifted its holdings in shares of Elevance Health by 13.1% in the 2nd quarter. Alliancebernstein L.P. now owns 3,214,663 shares of the company’s stock valued at $1,428,243,000 after buying an additional 372,937 shares during the period. Nuveen Asset Management LLC raised its holdings in Elevance Health by 1.8% during the second quarter. Nuveen Asset Management LLC now owns 3,143,404 shares of the company’s stock worth $1,396,583,000 after purchasing an additional 56,204 shares during the last quarter. Norges Bank acquired a new position in Elevance Health during the fourth quarter worth $1,253,211,000. Legal & General Group Plc raised its holdings in Elevance Health by 22.8% during the fourth quarter. Legal & General Group Plc now owns 2,197,840 shares of the company’s stock worth $1,036,415,000 after purchasing an additional 407,713 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in Elevance Health by 9.3% during the second quarter. Goldman Sachs Group Inc. now owns 2,013,408 shares of the company’s stock worth $894,537,000 after purchasing an additional 170,785 shares during the last quarter. 89.24% of the stock is owned by institutional investors and hedge funds.

About Elevance Health

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.