Elevance Health (ELV) Scheduled to Post Earnings on Wednesday

Elevance Health (NYSE:ELV) is scheduled to release its earnings data before the market opens on Wednesday, April 17th. Analysts expect Elevance Health to post earnings of $10.52 per share for the quarter. Persons that wish to listen to the company’s earnings conference call can do so using this link.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 earnings per share for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The firm had revenue of $42.45 billion during the quarter, compared to analyst estimates of $42.19 billion. During the same quarter last year, the firm earned $5.23 EPS. Elevance Health’s quarterly revenue was up 7.0% on a year-over-year basis. On average, analysts expect Elevance Health to post $37 EPS for the current fiscal year and $41 EPS for the next fiscal year.

Elevance Health Price Performance

Shares of NYSE ELV opened at $500.27 on Tuesday. Elevance Health has a fifty-two week low of $412.00 and a fifty-two week high of $521.18. The business has a 50 day moving average price of $507.68 and a two-hundred day moving average price of $481.59. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.59. The firm has a market cap of $116.41 billion, a PE ratio of 19.88, a price-to-earnings-growth ratio of 1.09 and a beta of 0.78.

Elevance Health Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 22nd. Shareholders of record on Friday, March 8th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date of this dividend was Thursday, March 7th. This is a positive change from Elevance Health’s previous quarterly dividend of $1.48. Elevance Health’s dividend payout ratio (DPR) is 25.90%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ELV. StockNews.com lowered Elevance Health from a “strong-buy” rating to a “buy” rating in a research note on Thursday, January 25th. Barclays assumed coverage on Elevance Health in a research report on Wednesday, March 6th. They issued an “overweight” rating and a $584.00 target price for the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $580.00 target price on shares of Elevance Health in a research report on Wednesday, April 10th. Royal Bank of Canada lifted their target price on Elevance Health from $572.00 to $574.00 and gave the stock an “outperform” rating in a research report on Thursday, January 25th. Finally, Wells Fargo & Company decreased their target price on Elevance Health from $561.00 to $557.00 and set an “overweight” rating for the company in a research report on Monday, April 8th. One research analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Elevance Health presently has a consensus rating of “Moderate Buy” and an average price target of $569.00.

Insider Activity at Elevance Health

In related 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 transaction of $376,500.00. Following the completion of the transaction, the director now owns 9,109 shares in the company, valued at approximately $4,554,500. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.35% of the company’s stock.

Institutional Trading of Elevance Health

Several hedge funds have recently added to or reduced their stakes in the business. Venture Visionary Partners LLC raised its stake in Elevance Health by 3.0% during the 4th quarter. Venture Visionary Partners LLC now owns 725 shares of the company’s stock valued at $342,000 after acquiring an additional 21 shares in the last quarter. Childress Capital Advisors LLC raised its stake in Elevance Health by 4.4% during the 4th quarter. Childress Capital Advisors LLC now owns 634 shares of the company’s stock valued at $299,000 after acquiring an additional 27 shares in the last quarter. Harbour Investments Inc. raised its stake in Elevance Health by 2.5% during the 4th quarter. Harbour Investments Inc. now owns 1,235 shares of the company’s stock valued at $582,000 after acquiring an additional 30 shares in the last quarter. Guardian Wealth Advisors LLC NC raised its stake in Elevance Health by 5.1% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 640 shares of the company’s stock valued at $302,000 after acquiring an additional 31 shares in the last quarter. Finally, Continuum Advisory LLC raised its stake in Elevance Health by 2.4% during the 1st quarter. Continuum Advisory LLC now owns 1,328 shares of the company’s stock valued at $611,000 after acquiring an additional 31 shares in the last quarter. Institutional investors own 89.24% of the company’s stock.

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.