Elevance Health (NYSE:ELV) Issues FY 2024 Earnings Guidance

Elevance Health (NYSE:ELV) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 37.200- for the period, compared to the consensus earnings per share estimate of 37.280. The company issued revenue guidance of -.

Elevance Health Trading Up 0.6 %

NYSE ELV traded up $2.94 during trading hours on Friday, reaching $535.17. The company had a trading volume of 874,644 shares, compared to its average volume of 1,331,405. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $124.10 billion, a P/E ratio of 20.23, a price-to-earnings-growth ratio of 1.18 and a beta of 0.84. The stock has a 50-day moving average of $529.51 and a 200 day moving average of $518.31. Elevance Health has a 1-year low of $431.38 and a 1-year high of $555.35.

Elevance Health (NYSE:ELV) last posted its quarterly earnings data on Wednesday, July 17th. The company reported $10.12 earnings per share for the quarter, topping analysts’ consensus estimates of $9.99 by $0.13. The firm had revenue of $43.22 billion during the quarter, compared to analysts’ expectations of $42.99 billion. Elevance Health had a net margin of 3.89% and a return on equity of 20.64%. The firm’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $9.04 EPS. As a group, research analysts anticipate that Elevance Health will post 37.25 earnings per share for the current fiscal year.

Elevance Health Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Tuesday, September 10th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.22%. The ex-dividend date is Tuesday, September 10th. Elevance Health’s payout ratio is 24.64%.

Analyst Upgrades and Downgrades

ELV has been the topic of several research reports. Mizuho increased their price target on shares of Elevance Health from $575.00 to $585.00 and gave the stock a buy rating in a research report on Wednesday, April 24th. Wells Fargo & Company decreased their price target on shares of Elevance Health from $600.00 to $593.00 and set an overweight rating for the company in a research note on Monday, July 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Elevance Health from $628.00 to $631.00 and gave the company an overweight rating in a research note on Thursday, May 30th. 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, Truist Financial raised their price target on Elevance Health from $600.00 to $620.00 and gave the company a buy rating in a report on Monday, July 15th. One investment analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Elevance Health has a consensus rating of Buy and an average target price of $604.29.

Insiders Place Their Bets

In other news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction 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 sale, the director now owns 9,721 shares of the company’s stock, valued at approximately $4,926,213.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Elevance Health news, Director Robert L. Dixon, Jr. sold 305 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $4,926,213.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gail Boudreaux sold 34,000 shares of Elevance Health stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $500.98, for a total value of $17,033,320.00. Following the completion of the transaction, the chief executive officer now owns 126,709 shares in the company, valued at $63,478,674.82. The disclosure for this sale can be found here. 0.35% of the stock is owned by corporate insiders.

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.