Q3 2024 EPS Estimates for Elevance Health, Inc. (NYSE:ELV) Increased by Zacks Research

Elevance Health, Inc. (NYSE:ELV) – Zacks Research raised their Q3 2024 earnings per share estimates for shares of Elevance Health in a research note issued to investors on Wednesday, April 24th. Zacks Research analyst K. Dey now expects that the company will post earnings of $9.79 per share for the quarter, up from their previous forecast 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.

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

Other analysts also recently issued reports about the company. Barclays boosted their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Truist Financial restated a “buy” rating and set a $600.00 target price (up previously from $580.00) on shares of Elevance Health in a research report on Friday, April 19th. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 25th. Cantor Fitzgerald restated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a report on Wednesday, April 10th. Finally, Mizuho increased their price target on Elevance Health from $575.00 to $585.00 and gave the company a “buy” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Stock Down 0.4 %

ELV stock opened at $537.26 on Thursday. The business’s 50 day simple moving average is $511.89 and its 200 day simple moving average is $486.40. The firm has a market capitalization of $124.87 billion, a PE ratio of 20.30, a PEG ratio of 1.18 and a beta of 0.78. Elevance Health has a 1-year low of $412.00 and a 1-year high of $542.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54.

Institutional Trading of Elevance Health

Institutional investors have recently added to or reduced their stakes in the business. Pin Oak Investment Advisors Inc. purchased a new position in shares of Elevance Health in the 4th quarter worth $28,000. OFI Invest Asset Management purchased a new position in Elevance Health in the third quarter worth about $25,000. Register Financial Advisors LLC purchased a new position in shares of Elevance Health during the first quarter valued at approximately $32,000. Alaska Permanent Fund Corp purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $31,000. Finally, Beaird Harris Wealth Management LLC bought a new stake in shares of Elevance Health during the fourth quarter valued at approximately $32,000. 89.24% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Elevance Health Announces Dividend

The company also recently declared 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. This represents a $6.52 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Monday, June 10th. Elevance Health’s dividend payout ratio (DPR) is currently 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.