Elevance Health Inc. Forecasted to Earn FY2022 Earnings of $28.91 Per Share (NYSE:ELV)

Elevance Health Inc. (NYSE:ELVGet Rating) – Jefferies Financial Group increased their FY2022 earnings per share (EPS) estimates for Elevance Health in a research note issued to investors on Wednesday, July 20th. Jefferies Financial Group analyst D. Windley now expects that the company will earn $28.91 per share for the year, up from their prior estimate of $28.81. The consensus estimate for Elevance Health’s current full-year earnings is $28.83 per share.

A number of other brokerages also recently issued reports on ELV. SVB Leerink cut their price objective on shares of Elevance Health from $555.00 to $490.00 and set a “market perform” rating for the company in a research report on Friday. Loop Capital initiated coverage on Elevance Health in a research report on Thursday, June 16th. They issued a “buy” rating and a $550.00 price target for the company. Cowen raised their price objective on Elevance Health from $472.00 to $642.00 in a research note on Thursday, April 21st. UBS Group increased their target price on shares of Elevance Health from $477.00 to $541.00 and gave the stock a “buy” rating in a report on Tuesday, March 29th. Finally, Cowen lowered their price target on shares of Elevance Health to $577.00 in a report on Friday. Three equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $560.70.

Elevance Health Stock Down 0.5 %

Shares of ELV stock opened at $459.60 on Monday. The company has a current ratio of 1.37, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. Elevance Health has a 12 month low of $355.43 and a 12 month high of $533.68. The stock has a market cap of $110.80 billion, a P/E ratio of 18.43, a P/E/G ratio of 1.27 and a beta of 0.96. The company has a 50 day simple moving average of $482.78 and a two-hundred day simple moving average of $476.46.

Elevance Health (NYSE:ELVGet Rating) last released its quarterly earnings results on Wednesday, July 20th. The company reported $8.04 EPS for the quarter, beating the consensus estimate of $7.74 by $0.30. The firm had revenue of $38.48 billion during the quarter, compared to analyst estimates of $38.05 billion. Elevance Health had a net margin of 4.09% and a return on equity of 19.20%. The business’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $7.03 EPS.

Elevance Health Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 23rd. Shareholders of record on Friday, September 9th will be given a dividend of $1.28 per share. The ex-dividend date is Thursday, September 8th. This represents a $5.12 annualized dividend and a dividend yield of 1.11%. Elevance Health’s dividend payout ratio (DPR) is presently 20.53%.

Insider Activity

In related news, Director Robert L. Dixon, Jr. sold 420 shares of the business’s stock in a transaction on Monday, June 6th. The stock was sold at an average price of $497.14, for a total transaction of $208,798.80. Following the completion of the transaction, the director now owns 9,491 shares in the company, valued at approximately $4,718,355.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 420 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $497.14, for a total value of $208,798.80. Following the transaction, the director now directly owns 9,491 shares in the company, valued at approximately $4,718,355.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles Morgan Kendrick, Jr. sold 6,328 shares of Elevance Health stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $488.60, for a total transaction of $3,091,860.80. Following the sale, the executive vice president now directly owns 14,529 shares of the company’s stock, valued at approximately $7,098,869.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 7,738 shares of company stock valued at $3,764,851. 0.27% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Elevance Health

Several institutional investors have recently made changes to their positions in the company. National Bank of Canada FI purchased a new stake in shares of Elevance Health during the fourth quarter valued at about $5,948,000. Lincoln National Corp boosted its stake in Elevance Health by 10.9% in the 4th quarter. Lincoln National Corp now owns 2,741 shares of the company’s stock worth $1,271,000 after purchasing an additional 270 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Elevance Health during the 4th quarter worth approximately $49,000. Berger Financial Group Inc purchased a new position in shares of Elevance Health in the fourth quarter worth $200,000. Finally, NN Investment Partners Holdings N.V. raised its stake in Elevance Health by 0.3% in the 4th quarter. NN Investment Partners Holdings N.V. now owns 632,847 shares of the company’s stock worth $293,352,000 after acquiring an additional 2,029 shares during the last quarter. Hedge funds and other institutional investors own 84.28% of the company’s stock.

About Elevance Health

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Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through four segments: Commercial & Specialty Business, Government Business, IngenioRx, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small groups, individuals, Medicaid, and Medicare markets.

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Earnings History and Estimates for Elevance Health (NYSE:ELV)

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