Elevance Health (NYSE:ELV) Releases FY 2024 Earnings Guidance

Elevance Health (NYSE:ELV) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 33.000-33.000 for the period, compared to the consensus EPS estimate of 37.260. The company issued revenue guidance of -.

Elevance Health Stock Up 2.7 %

Shares of ELV opened at $496.99 on Thursday. Elevance Health has a fifty-two week low of $437.42 and a fifty-two week high of $567.26. The company’s fifty day moving average is $530.38 and its two-hundred day moving average is $528.62. The firm has a market cap of $115.51 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58.

Elevance Health (NYSE:ELV) last issued its earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $9.04 earnings per share. Analysts forecast that Elevance Health will post 37.26 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ELV. TD Cowen decreased their target price on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Stephens reissued an “overweight” rating and issued a $615.00 price objective on shares of Elevance Health in a research report on Thursday, September 5th. Barclays raised their target price on shares of Elevance Health from $611.00 to $622.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Truist Financial upped their price target on shares of Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research report on Monday, July 15th. Finally, Morgan Stanley initiated coverage on Elevance Health in a research report on Monday, June 24th. They issued an “overweight” rating and a $643.00 price objective on the stock. One research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $605.07.

Insider Buying and Selling at Elevance Health

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the company’s 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 transaction, the director now directly owns 9,721 shares of the company’s stock, valued at $4,926,213.96. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated Friday, July 19th. The shares were 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 35,058 shares of company stock worth $17,588,116 in the last 90 days. 0.35% of the stock is owned by corporate insiders.

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.