Leerink Partnrs Comments on Elevance Health FY2024 Earnings

Elevance Health, Inc. (NYSE:ELV) – Equities research analysts at Leerink Partnrs lowered their FY2024 earnings estimates for shares of Elevance Health in a report issued on Sunday, October 20th. Leerink Partnrs analyst W. Mayo now anticipates that the company will post earnings per share of $33.02 for the year, down from their prior estimate of $37.21. The consensus estimate for Elevance Health’s current full-year earnings is $37.26 per share. Leerink Partnrs also issued estimates for Elevance Health’s Q4 2024 earnings at $3.88 EPS, Q1 2025 earnings at $10.35 EPS, Q2 2025 earnings at $8.94 EPS, Q3 2025 earnings at $9.66 EPS, Q4 2025 earnings at $5.68 EPS, FY2025 earnings at $34.63 EPS, FY2026 earnings at $44.16 EPS and FY2027 earnings at $52.36 EPS.

Other equities analysts have also recently issued research reports about the stock. Royal Bank of Canada decreased their price target on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research report on Friday, October 18th. Wells Fargo & Company reaffirmed a “buy” rating on shares of Elevance Health in a research report on Friday, October 18th. TD Cowen lowered their price objective on Elevance Health from $589.00 to $484.00 and set a “buy” rating for the company in a research report on Monday. Stephens reiterated an “underperform” rating on shares of Elevance Health in a research note on Friday, October 18th. Finally, Cantor Fitzgerald dropped their target price on Elevance Health from $600.00 to $485.00 and set an “overweight” rating on the stock in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Elevance Health currently has an average rating of “Moderate Buy” and a consensus target price of $551.07.

Elevance Health Trading Down 1.0 %

Shares of ELV stock opened at $415.54 on Wednesday. Elevance Health has a fifty-two week low of $397.98 and a fifty-two week high of $567.26. The company has a 50 day moving average price of $519.97 and a 200 day moving average price of $525.88. The stock has a market capitalization of $96.58 billion, a P/E ratio of 15.70, a price-to-earnings-growth ratio of 1.08 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.49 and a current ratio of 1.49.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Thursday, October 17th. The company reported $8.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.66 by ($1.29). The firm had revenue of $44.72 billion during the quarter, compared to analysts’ expectations of $43.47 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. Elevance Health’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $8.99 EPS.

Elevance Health Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be given a $1.63 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.52 annualized dividend and a yield of 1.57%. Elevance Health’s dividend payout ratio (DPR) is 24.64%.

Insider Buying and Selling

In other Elevance Health news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total transaction of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares of the company’s stock, valued at $3,639,915.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of Elevance Health stock in a transaction on Friday, October 18th. The shares were sold at an average price of $432.14, for a total value of $3,205,182.38. Following the transaction, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ramiro G. Peru sold 753 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $531.52, for a total transaction of $400,234.56. Following the completion of the transaction, the director now directly owns 8,744 shares in the company, valued at $4,647,610.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.35% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ELV. Ameriprise Financial Inc. raised its stake in shares of Elevance Health by 5.3% during the 2nd quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock worth $2,054,641,000 after buying an additional 190,118 shares in the last quarter. Capital International Investors lifted its holdings in Elevance Health by 3.7% in the first quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock valued at $1,814,118,000 after acquiring an additional 123,802 shares during the period. Legal & General Group Plc boosted its position in shares of Elevance Health by 2.9% during the 2nd quarter. Legal & General Group Plc now owns 2,247,091 shares of the company’s stock worth $1,217,607,000 after purchasing an additional 64,376 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Elevance Health by 34.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,062,706 shares of the company’s stock worth $1,117,698,000 after purchasing an additional 523,910 shares in the last quarter. Finally, First Eagle Investment Management LLC grew its stake in shares of Elevance Health by 15.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock worth $1,115,301,000 after purchasing an additional 275,708 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

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.