Wolfe Research Weighs in on Elevance Health, Inc.’s Q4 2024 Earnings (NYSE:ELV)

Elevance Health, Inc. (NYSE:ELV) – Stock analysts at Wolfe Research lifted their Q4 2024 earnings estimates for Elevance Health in a research report issued on Monday, September 23rd. Wolfe Research analyst J. Lake now forecasts that the company will post earnings per share of $6.79 for the quarter, up from their previous 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.

Elevance Health (NYSE:ELV) last issued its quarterly earnings results on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping the consensus estimate of $9.99 by $0.13. The company had revenue of $43.22 billion for the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a return on equity of 20.64% and a net margin of 3.89%. The firm’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the firm earned $9.04 earnings per share.

Several other research firms have also issued reports on ELV. StockNews.com lowered shares of Elevance Health from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 6th. Stephens reissued an “overweight” rating and issued a $615.00 target price on shares of Elevance Health in a report on Thursday, September 5th. TD Cowen reduced their price target on Elevance Health from $624.00 to $589.00 and set a “buy” rating for the company in a report on Friday, July 19th. Barclays dropped their price target on shares of Elevance Health from $621.00 to $611.00 and set an “overweight” rating on the stock in a research note on Thursday, July 18th. Finally, Royal Bank of Canada raised their price objective on shares of Elevance Health from $575.00 to $585.00 and gave the company an “outperform” rating in a research note on Thursday, July 18th. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Elevance Health has a consensus rating of “Buy” and an average target price of $604.29.

Elevance Health Trading Up 0.7 %

NYSE:ELV opened at $524.09 on Thursday. The firm has a market capitalization of $121.81 billion, a P/E ratio of 19.82, a PEG ratio of 1.17 and a beta of 0.82. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.49 and a quick ratio of 1.49. Elevance Health has a one year low of $431.38 and a one year high of $567.26. The company’s 50-day simple moving average is $536.06 and its 200 day simple moving average is $529.74.

Elevance Health Announces Dividend

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

Insider Activity at Elevance Health

In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $500.98, for a total transaction of $17,033,320.00. Following the completion of the sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Elevance Health news, CEO Gail Boudreaux sold 34,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 126,709 shares of the company’s stock, valued at $63,478,674.82. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ramiro G. Peru sold 753 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $531.52, for a total value of $400,234.56. Following the sale, the director now owns 8,744 shares of the company’s stock, valued at approximately $4,647,610.88. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,058 shares of company stock worth $17,588,116. 0.35% of the stock is owned by insiders.

Hedge Funds Weigh In On Elevance Health

Hedge funds have recently modified their holdings of the stock. Bank & Trust Co purchased a new stake in shares of Elevance Health in the second quarter worth about $27,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Elevance Health in the fourth quarter valued at $28,000. Palisade Asset Management LLC bought a new stake in Elevance Health in the first quarter worth $28,000. Opal Wealth Advisors LLC bought a new stake in Elevance Health in the second quarter worth $28,000. Finally, Strategic Financial Concepts LLC purchased a new stake in Elevance Health during the second quarter valued at $30,000. Hedge funds and other institutional investors own 89.24% of the company’s stock.

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.