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

Elevance Health, Inc. (NYSE:ELV) – Analysts at Zacks Research raised their Q3 2024 earnings estimates for shares of Elevance Health in a research report issued to clients and investors on Wednesday, April 24th. Zacks Research analyst K. Dey now forecasts that the company will post earnings of $9.79 per share for the quarter, up from their previous estimate of $9.66. The consensus estimate for Elevance Health’s current full-year earnings is $37.24 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.

Several other research analysts also recently issued reports on ELV. Mizuho upped 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. StockNews.com downgraded shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a research report on Thursday, January 25th. Jefferies Financial Group upped their target price on shares of Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. UBS Group upped their target price on shares of Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Finally, Wells Fargo & Company upped their price target on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Stock Up 0.2 %

Shares of NYSE:ELV opened at $533.79 on Thursday. Elevance Health has a 52 week low of $412.00 and a 52 week high of $539.11. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37. The company’s fifty day moving average is $510.78 and its 200-day moving average is $485.44. The company has a market capitalization of $124.06 billion, a PE ratio of 20.17, a P/E/G ratio of 1.17 and a beta of 0.78.

Elevance Health (NYSE:ELV) last issued its earnings results on Thursday, April 18th. The company reported $10.64 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 company had revenue of $42.27 billion for the quarter, compared to the consensus estimate of $42.49 billion. During the same quarter in the previous year, the company earned $9.46 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year.

Elevance Health Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.22%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Transactions at Elevance Health

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 shares were sold at an average price of $500.00, for a total transaction of $376,500.00. Following the completion of the transaction, the director now directly owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Elevance Health

Several large investors have recently made changes to their positions in the stock. Richwood Investment Advisors LLC boosted its holdings in shares of Elevance Health by 0.8% in the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after buying an additional 20 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in shares of Elevance Health by 2.1% in the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after buying an additional 20 shares during the last quarter. Capital Advisors Ltd. LLC boosted its holdings in shares of Elevance Health by 8.8% in the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after buying an additional 20 shares during the last quarter. Alliance Wealth Advisors LLC lifted its holdings in Elevance Health by 2.9% during the 4th quarter. Alliance Wealth Advisors LLC now owns 745 shares of the company’s stock valued at $351,000 after purchasing an additional 21 shares during the last quarter. Finally, HF Advisory Group LLC lifted its holdings in Elevance Health by 0.7% during the 1st quarter. HF Advisory Group LLC now owns 2,983 shares of the company’s stock valued at $1,547,000 after purchasing an additional 21 shares during the last quarter. Institutional investors and hedge funds 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.