Elevance Health (ELV) Scheduled to Post Earnings on Wednesday

Elevance Health (NYSE:ELV) will 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 announced its quarterly earnings data on Wednesday, January 24th. The company reported $5.62 EPS for the quarter, beating analysts’ consensus estimates of $5.60 by $0.02. The firm had revenue of $42.45 billion for the quarter, compared to analyst estimates of $42.19 billion. Elevance Health had a return on equity of 20.47% and a net margin of 3.49%. The business’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period last year, the company earned $5.23 EPS. 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 Stock Up 0.6 %

Shares of ELV opened at $500.27 on Tuesday. The firm has a market capitalization of $116.41 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.09 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.44 and a current ratio of 1.44. The business’s fifty day moving average price is $507.68 and its two-hundred day moving average price is $481.59. Elevance Health has a 52 week low of $412.00 and a 52 week high of $521.18.

Elevance Health Increases Dividend

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

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director Ramiro G. Peru sold 753 shares of the firm’s stock in a transaction 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 sale, the director now owns 9,109 shares of the company’s stock, valued at approximately $4,554,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.35% of the stock is currently owned by company insiders.

Institutional Trading of Elevance Health

Hedge funds and other institutional investors have recently modified their holdings of the company. PCA Investment Advisory Services Inc. acquired a new stake in shares of Elevance Health in the 2nd quarter valued at about $114,000. Fred Alger Management LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $109,000. Ancora Advisors LLC acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $104,000. Main Street Group LTD acquired a new stake in shares of Elevance Health in the 4th quarter valued at about $94,000. Finally, Highlander Capital Management LLC bought a new position in shares of Elevance Health in the 4th quarter valued at about $77,000. Institutional investors and hedge funds 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.