Elevance Health (NYSE:ELV) Posts Earnings Results, Beats Estimates By $2.28 EPS

Elevance Health (NYSE:ELV) released its quarterly earnings results on Wednesday. The company reported $6.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.71 by $2.28, FiscalAI reports. The business had revenue of $50.44 billion during the quarter, compared to analysts’ expectations of $49.22 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%.

Elevance Health Price Performance

Elevance Health stock opened at $439.57 on Wednesday. The business’s 50-day simple moving average is $405.84 and its 200 day simple moving average is $388.57. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 0.68. The stock has a market cap of $95.33 billion, a price-to-earnings ratio of 19.54, a P/E/G ratio of 2.24 and a beta of 0.70. Elevance Health has a 12-month low of $274.84 and a 12-month high of $440.67.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Leerink Partners raised their price objective on shares of Elevance Health from $364.00 to $395.00 and gave the company a “market perform” rating in a research report on Friday, July 17th. Wall Street Zen downgraded shares of Elevance Health from a “buy” rating to a “hold” rating in a research note on Sunday, July 12th. Guggenheim upped their target price on shares of Elevance Health from $455.00 to $460.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Sanford C. Bernstein set a $488.00 price target on shares of Elevance Health in a research note on Thursday, July 16th. Finally, Barclays raised their price target on shares of Elevance Health from $457.00 to $469.00 and gave the company an “overweight” rating in a report on Wednesday, October 7th. Fifteen investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $441.71.

Elevance Health Company Profile

Elevance Health, Inc (NYSE: ELV) is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.