Elevance Health (ELV) to Release Earnings on Thursday

Elevance Health (NYSE:ELV) is set to release its earnings data before the market opens on Thursday, October 17th. Analysts expect Elevance Health to post earnings of $9.74 per share for the quarter. Individual that are interested in registering for the company’s earnings conference call can do so using this link.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 EPS for the quarter, beating the consensus estimate of $9.99 by $0.13. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm had revenue of $43.22 billion during the quarter, compared to analyst estimates of $42.99 billion. During the same quarter in the prior year, the business posted $9.04 EPS. The business’s revenue for the quarter was down .4% compared to the same quarter last year. On average, analysts expect Elevance Health to post $37 EPS for the current fiscal year and $42 EPS for the next fiscal year.

Elevance Health Price Performance

NYSE ELV opened at $483.87 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. The stock’s fifty day moving average price is $530.86 and its 200 day moving average price is $528.85. Elevance Health has a 1 year low of $435.99 and a 1 year high of $567.26. The company has a market cap of $112.46 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.08 and a beta of 0.82.

Insider Buying and Selling

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Robert L. Dixon, Jr. sold 305 shares of the stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the sale, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the transaction, the chief executive officer now owns 126,709 shares of the company’s stock, valued at $63,478,674.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 35,058 shares of company stock valued at $17,588,116 in the last 90 days. 0.35% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ELV has been the subject of a number of recent research reports. Cantor Fitzgerald reiterated an “overweight” rating and issued a $600.00 target price on shares of Elevance Health in a research report on Tuesday, October 1st. Barclays lifted their target price on Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Morgan Stanley started coverage on Elevance Health in a report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective on the stock. Stephens reiterated an “overweight” rating and set a $615.00 target price on shares of Elevance Health in a research note on Thursday, September 5th. Finally, Royal Bank of Canada increased their price target on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a report on Thursday, July 18th. One investment analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Elevance Health currently has an average rating of “Buy” and an average target price of $605.07.

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.