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

Elevance Health, Inc. (NYSE:ELV) – Zacks Research lifted their Q3 2024 earnings per share (EPS) estimates for Elevance Health in a research note issued to 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.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Thursday, April 18th. The company reported $10.64 EPS for the quarter, beating the consensus estimate of $10.54 by $0.10. The firm had revenue of $42.27 billion during 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 quarter in the previous year, the company posted $9.46 earnings per share.

A number of other research analysts have also recently commented on the company. Jefferies Financial Group upped their price target on Elevance Health from $602.00 to $604.00 and gave the company a “buy” rating in a research report on Friday, April 19th. Royal Bank of Canada boosted their target price on Elevance Health from $574.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, April 19th. Barclays upped their price target on Elevance Health from $584.00 to $621.00 and gave the company an “overweight” rating in a research report on Friday, April 19th. Wells Fargo & Company increased their target price on Elevance Health from $557.00 to $600.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Truist Financial restated a “buy” rating and issued a $600.00 price target (up previously from $580.00) on shares of Elevance Health in a research note on Friday, April 19th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $587.42.

Elevance Health Trading Down 0.4 %

Shares of Elevance Health stock opened at $537.26 on Thursday. The company has a market capitalization of $124.87 billion, a P/E ratio of 20.30, a price-to-earnings-growth ratio of 1.18 and a beta of 0.78. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.54. The stock has a fifty day simple moving average of $511.89 and a 200 day simple moving average of $486.40. Elevance Health has a 12-month low of $412.00 and a 12-month high of $542.07.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ELV. Norges Bank purchased a new position in Elevance Health in the fourth quarter worth about $1,347,434,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $467,141,000. Canoe Financial LP boosted its position in shares of Elevance Health by 158.1% during the fourth quarter. Canoe Financial LP now owns 844,122 shares of the company’s stock valued at $398,054,000 after buying an additional 517,116 shares during the period. Morningstar Investment Services LLC purchased a new position in shares of Elevance Health during the fourth quarter valued at approximately $239,244,000. Finally, Focused Investors Fund L P purchased a new position in shares of Elevance Health during the first quarter valued at approximately $249,884,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Buying and Selling

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $500.00, for a total transaction of $376,500.00. Following the sale, the director now directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Felicia F. Norwood sold 14,111 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $533.74, for a total value of $7,531,605.14. Following the transaction, the executive vice president now owns 31,460 shares of the company’s stock, valued at approximately $16,791,460.40. The disclosure for this sale can be found here. 0.35% of the stock is owned by insiders.

Elevance Health Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a dividend of $1.63 per share. The ex-dividend date is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.21%. 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.