Q4 2024 EPS Estimates for Elevance Health, Inc. Lifted by Analyst (NYSE:ELV)

Elevance Health, Inc. (NYSE:ELV) – Wolfe Research lifted their Q4 2024 earnings per share (EPS) estimates for shares of Elevance Health in a report released on Monday, September 23rd. Wolfe Research analyst J. Lake now anticipates that the company will post earnings of $6.79 per share for the quarter, up from their prior forecast of $6.76. The consensus estimate for Elevance Health’s current full-year earnings is $37.25 per share. Wolfe Research also issued estimates for Elevance Health’s Q2 2025 earnings at $11.43 EPS, Q4 2025 earnings at $7.83 EPS, FY2025 earnings at $41.69 EPS and FY2028 earnings at $57.82 EPS.

ELV has been the subject of several other reports. Royal Bank of Canada boosted their price target on Elevance Health from $575.00 to $585.00 and gave the stock an “outperform” rating in a research report on Thursday, July 18th. Cantor Fitzgerald restated an “overweight” rating and issued a $600.00 price target on shares of Elevance Health in a report on Friday, September 20th. TD Cowen cut their price objective on shares of Elevance Health from $624.00 to $589.00 and set a “buy” rating on the stock in a research report on Friday, July 19th. 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 report on Thursday, July 18th. Finally, Stephens reaffirmed an “overweight” rating and issued a $615.00 price target on shares of Elevance Health in a report on Thursday, September 5th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $604.29.

Elevance Health Stock Performance

Shares of NYSE:ELV opened at $524.09 on Thursday. The firm has a 50 day moving average of $536.06 and a 200 day moving average of $529.74. 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 company has a market capitalization of $121.81 billion, a price-to-earnings ratio of 19.82, a price-to-earnings-growth ratio of 1.17 and a beta of 0.82. Elevance Health has a 52 week low of $431.38 and a 52 week high of $567.26.

Elevance Health (NYSE:ELV) last released its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, beating 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 firm 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 company posted $9.04 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis.

Elevance Health Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th were given a $1.63 dividend. The ex-dividend date of this dividend was Tuesday, September 10th. This represents a $6.52 dividend on an annualized basis and a yield of 1.24%. Elevance Health’s dividend payout ratio is currently 24.64%.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of Elevance Health stock in a transaction that occurred on Friday, July 19th. The shares were sold at an average price of $506.76, for a total transaction of $154,561.80. Following the completion of the sale, the director now directly owns 9,721 shares in the company, valued at approximately $4,926,213.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the transaction, the chief executive officer now directly owns 126,709 shares in the company, valued at $63,478,674.82. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Robert L. Dixon, Jr. sold 305 shares of the company’s stock in a transaction that occurred on Friday, July 19th. The stock was sold at an average price of $506.76, for a total value of $154,561.80. Following the completion of the sale, the director now owns 9,721 shares in the company, valued at approximately $4,926,213.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elevance Health

Large investors have recently made changes to their positions in the company. Ameriprise Financial Inc. increased its holdings in Elevance Health by 5.3% in the second quarter. Ameriprise Financial Inc. now owns 3,791,793 shares of the company’s stock valued at $2,054,641,000 after buying an additional 190,118 shares in the last quarter. Capital International Investors raised its holdings in Elevance Health by 3.7% in the 1st quarter. Capital International Investors now owns 3,498,511 shares of the company’s stock worth $1,814,118,000 after purchasing an additional 123,802 shares during the period. Legal & General Group Plc raised its holdings in Elevance Health by 2.9% in 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 during the period. Massachusetts Financial Services Co. MA boosted its position in Elevance Health by 34.0% during the second 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 increased its position in shares of Elevance Health by 15.5% in the second quarter. First Eagle Investment Management LLC now owns 2,058,283 shares of the company’s stock valued at $1,115,301,000 after buying an additional 275,708 shares in the last quarter. 89.24% of the stock is currently owned by institutional investors and hedge funds.

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.