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

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

Elevance Health Trading Up 2.7 %

Elevance Health stock opened at $496.99 on Thursday. Elevance Health has a 52-week low of $437.42 and a 52-week high of $567.26. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $115.51 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.08 and a beta of 0.82. The firm has a 50-day moving average price of $530.38 and a two-hundred day moving average price of $528.62.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share (EPS) for the quarter, topping 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 business had revenue of $43.22 billion during the quarter, compared to the consensus estimate of $42.99 billion. During the same period in the previous year, the firm posted $9.04 earnings per share. The business’s revenue was down .4% on a year-over-year basis. Sell-side analysts expect that Elevance Health will post 37.26 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on ELV. Truist Financial increased their price target on Elevance Health from $600.00 to $620.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Bank of America reissued a “neutral” rating and set a $530.00 target price (down previously from $646.00) on shares of Elevance Health in a research note on Thursday, July 18th. Morgan Stanley started coverage on shares of Elevance Health in a research note on Monday, June 24th. They issued an “overweight” rating and a $643.00 price target for the company. Cantor Fitzgerald reiterated an “overweight” rating and set a $600.00 price objective on shares of Elevance Health in a research note on Tuesday, October 1st. Finally, Barclays upped their target price on Elevance Health from $611.00 to $622.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $605.07.

Insider Transactions at Elevance Health

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $531.52, for a total value of $400,234.56. Following the completion of the transaction, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction dated Friday, July 19th. The stock was sold at an average price of $506.76, for a total transaction of $154,561.80. Following the transaction, the director now owns 9,721 shares of the company’s stock, valued at $4,926,213.96. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the sale, the director now directly owns 8,744 shares of the company’s stock, valued at $4,647,610.88. 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 a total of 35,058 shares of company stock valued at $17,588,116 over the last ninety days. Corporate insiders own 0.35% of the company’s stock.

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.