Elevance Health, Inc. (NYSE:ELV) to Post FY2024 Earnings of $37.21 Per Share, Cantor Fitzgerald Forecasts

Elevance Health, Inc. (NYSE:ELV) – Research analysts at Cantor Fitzgerald upped their FY2024 earnings per share estimates for Elevance Health in a research note issued on Friday, April 19th. Cantor Fitzgerald analyst S. James now anticipates that the company will earn $37.21 per share for the year, up from their prior estimate of $37.13. Cantor Fitzgerald currently has a “Overweight” rating and a $580.00 target price on the stock. The consensus estimate for Elevance Health’s current full-year earnings is $37.24 per share.

ELV has been the topic of a number of other research reports. Truist Financial reissued a “buy” rating and issued a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a report on Friday, April 19th. UBS Group increased their target price on Elevance Health from $585.00 to $605.00 and gave the company a “buy” rating in a report on Friday, April 19th. Jefferies Financial Group increased their target price on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a report on Friday, April 19th. Barclays increased their target price on 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 downgraded Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $587.64.

Elevance Health Trading Up 0.1 %

Shares of NYSE:ELV opened at $532.92 on Monday. The company has a market cap of $123.86 billion, a P/E ratio of 20.14, a PEG ratio of 1.16 and a beta of 0.78. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.37 and a quick ratio of 1.37. Elevance Health has a 1 year low of $412.00 and a 1 year high of $539.11. The stock’s fifty day moving average price is $510.23 and its 200-day moving average price is $485.10.

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

Hedge Funds Weigh In On Elevance Health

Several large investors have recently modified their holdings of the stock. Richwood Investment Advisors LLC increased its position in shares of Elevance Health by 0.8% during the 4th quarter. Richwood Investment Advisors LLC now owns 2,546 shares of the company’s stock valued at $1,201,000 after purchasing an additional 20 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in Elevance Health by 2.1% during the 4th quarter. Bell Investment Advisors Inc now owns 989 shares of the company’s stock valued at $466,000 after acquiring an additional 20 shares during the period. Capital Advisors Ltd. LLC boosted its holdings in Elevance Health by 8.8% during the 1st quarter. Capital Advisors Ltd. LLC now owns 248 shares of the company’s stock valued at $129,000 after acquiring an additional 20 shares during the period. Alliance Wealth Advisors LLC boosted 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 acquiring an additional 21 shares during the period. Finally, HF Advisory Group LLC boosted 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 acquiring an additional 21 shares during the period. Institutional investors own 89.24% of the company’s stock.

Insiders Place Their Bets

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of Elevance Health 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 sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Elevance Health Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Shareholders of record on Monday, June 10th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s payout ratio is 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.