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Brokers Set Expectations for Elevance Health Inc.’s Q2 2022 Earnings (NYSE:ELV)

Elevance Health Inc. (NYSE:ELVGet Rating) – Equities research analysts at Jefferies Financial Group raised their Q2 2022 earnings estimates for shares of Elevance Health in a report released on Thursday, July 14th. Jefferies Financial Group analyst D. Windley now forecasts that the company will post earnings of $7.78 per share for the quarter, up from their previous forecast of $7.75. The consensus estimate for Elevance Health’s current full-year earnings is $28.55 per share. Jefferies Financial Group also issued estimates for Elevance Health’s Q3 2022 earnings at $7.12 EPS.

A number of other equities research analysts have also recently issued reports on ELV. StockNews.com initiated coverage on shares of Elevance Health in a report on Thursday, July 7th. They issued a “strong-buy” rating on the stock. Wells Fargo & Company dropped their target price on shares of Elevance Health from $586.00 to $580.00 and set an “overweight” rating on the stock in a report on Wednesday, May 25th. Loop Capital started coverage on shares of Elevance Health in a report on Thursday, June 16th. They issued a “buy” rating and a $550.00 target price on the stock. BMO Capital Markets upped their price target on shares of Elevance Health from $540.00 to $625.00 and gave the company an “outperform” rating in a research note on Monday, April 25th. Finally, Sanford C. Bernstein started coverage on shares of Elevance Health in a research note on Thursday, May 26th. They issued an “outperform” rating and a $596.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $555.76.

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Shares of ELV stock opened at $466.39 on Friday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.36 and a current ratio of 1.36. The firm’s 50-day moving average is $485.09 and its 200-day moving average is $475.78. The stock has a market cap of $112.44 billion, a price-to-earnings ratio of 18.36, a PEG ratio of 1.36 and a beta of 0.96. Elevance Health has a 52-week low of $355.43 and a 52-week high of $533.68. Elevance Health (NYSE:ELVGet Rating) last issued its quarterly earnings results on Wednesday, April 20th. The company reported $8.25 EPS for the quarter, topping the consensus estimate of $7.81 by $0.44. Elevance Health had a net margin of 4.33% and a return on equity of 18.71%. The firm had revenue of $38.10 billion for the quarter, compared to analysts’ expectations of $37.28 billion. During the same period in the previous year, the firm posted $7.01 EPS. The company’s revenue for the quarter was up 17.6% on a year-over-year basis.

The company also recently declared a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 10th were given a dividend of $1.28 per share. This is a positive change from Elevance Health’s previous quarterly dividend of $1.13. The ex-dividend date of this dividend was Thursday, June 9th. This represents a $5.12 annualized dividend and a dividend yield of 1.10%. Elevance Health’s dividend payout ratio (DPR) is currently 20.16%.

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

A number of large investors have recently modified their holdings of ELV. Offit Capital Advisors LLC raised its stake in shares of Elevance Health by 76.8% during the first quarter. Offit Capital Advisors LLC now owns 3,572 shares of the company’s stock valued at $1,755,000 after acquiring an additional 1,552 shares during the last quarter. Peachtree Investment Partners LLC raised its stake in shares of Elevance Health by 304.4% during the first quarter. Peachtree Investment Partners LLC now owns 2,398 shares of the company’s stock valued at $1,178,000 after acquiring an additional 1,805 shares during the last quarter. Vise Technologies Inc. bought a new position in shares of Elevance Health during the first quarter valued at $267,000. Teachers Retirement System of The State of Kentucky raised its stake in shares of Elevance Health by 10.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 66,070 shares of the company’s stock valued at $32,455,000 after acquiring an additional 6,251 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Elevance Health by 42.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 52,928 shares of the company’s stock valued at $26,000,000 after acquiring an additional 15,816 shares during the last quarter. 84.28% of the stock is owned by institutional investors and hedge funds.

About Elevance Health (Get Rating)

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)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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