FY2024 Earnings Estimate for Elevance Health, Inc. Issued By Cantor Fitzgerald (NYSE:ELV)

Elevance Health, Inc. (NYSE:ELV) – Equities research analysts at Cantor Fitzgerald raised their FY2024 earnings per share estimates for Elevance Health in a report issued on Friday, April 19th. Cantor Fitzgerald analyst S. James now expects that the company will post earnings per share of $37.21 for the year, up from their previous 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.

A number of other brokerages have also weighed in on ELV. Wells Fargo & Company lifted their target price on Elevance Health from $557.00 to $600.00 and gave the company an “overweight” rating in a research report on Friday. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. UBS Group upped their price objective on shares of Elevance Health from $585.00 to $605.00 and gave the stock a “buy” rating in a research note on Friday. Jefferies Financial Group increased their target price on shares of Elevance Health from $602.00 to $604.00 and gave the stock a “buy” rating in a report on Friday. 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 report on Friday. One analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $587.64.

Elevance Health Stock Up 0.1 %

Shares of NYSE ELV opened at $532.17 on Monday. The stock has a 50 day moving average price of $509.68 and a 200 day moving average price of $484.51. The firm has a market capitalization of $123.69 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 1.16 and a beta of 0.78. Elevance Health has a 52-week low of $412.00 and a 52-week high of $539.11. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.37 and a current ratio of 1.37.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ELV. abrdn plc increased its position in shares of Elevance Health by 86.8% in the fourth quarter. abrdn plc now owns 278,397 shares of the company’s stock valued at $131,281,000 after buying an additional 129,364 shares in the last quarter. Cerity Partners LLC raised its position in Elevance Health by 21.3% during the fourth quarter. Cerity Partners LLC now owns 52,300 shares of the company’s stock worth $24,663,000 after acquiring an additional 9,199 shares during the period. Wetzel Investment Advisors Inc. purchased a new position in Elevance Health during the fourth quarter valued at $218,000. Chicago Capital LLC grew its position in shares of Elevance Health by 244.2% in the fourth quarter. Chicago Capital LLC now owns 7,028 shares of the company’s stock valued at $3,314,000 after purchasing an additional 4,986 shares during the period. Finally, Lecap Asset Management Ltd. purchased a new stake in shares of Elevance Health during the fourth quarter worth about $2,235,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

Insider Transactions at Elevance Health

In other Elevance Health news, Director Ramiro G. Peru sold 753 shares of the business’s 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 directly owns 9,109 shares of the company’s stock, valued at $4,554,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.29% of the company’s stock.

Elevance Health Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 25th. Stockholders of record on Monday, June 10th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Monday, June 10th. This represents a $6.52 annualized dividend and a dividend yield of 1.23%. Elevance Health’s dividend payout ratio (DPR) is presently 24.64%.

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.