Elevance Health Inc (NYSE: ELV) is 7.30% higher on its value in year-to-date trading and has touched a low of $412.00 and a high of $521.18 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The ELV stock was last observed hovering at around $499.22 in the last trading session, with the day’s gains setting it 6.78%.
Currently trading at $506.00, the stock is -0.83% and 0.62% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.09 million and changing 1.36% at the moment leaves the stock 7.71% off its SMA200. ELV registered 10.05% gain for a year compared to 6-month gain of 14.95%. The firm has a 50-day simple moving average (SMA 50) of $0.79.
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The stock witnessed a 0.33% loss in the last 1 month and extending the period to 3 months gives it a 5.67%, and is -2.17% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.23% over the week and 1.29% over the month.
Elevance Health Inc (ELV) has around 104900 employees, a market worth around $117.73B and $171.34B in sales. Current P/E ratio is 20.10 and Fwd P/E is 12.18. Profit margin for the company is 3.49%. Distance from 52-week low is 22.82% and -2.91% from its 52-week high. The company has generated returns on investments over the last 12 months (9.47%).
Elevance Health Inc quarterly earnings per share for the current quarter are estimated at $10.49 with sales reaching $42.62B over the same period.The EPS is expected to grow by 12.03% this year, but quarterly earnings will post 1.30% year-over-year. Quarterly sales are estimated to grow 4.40% in year-over-year returns.
2,227 institutions hold shares in Elevance Health Inc (ELV), with institutional investors hold 92.35% of the company’s shares. The shares outstanding are 233.07M, and float is at 231.50M with Short Float at 1.01%. Institutions hold 92.16% of the Float.
The top institutional shareholder in the company is Vanguard Group Inc with over 21.33 million shares valued at $9.48 billion. The investor’s holdings represent 9.08% of the ELV Shares outstanding. As of Jun 29, 2023, the second largest holder is Blackrock Inc. with 20.39 million shares valued at $9.06 billion to account for 8.68% of the shares outstanding. The other top investors are Price (T.Rowe) Associates Inc which holds 12.1 million shares representing 5.15% and valued at over $5.38 billion, while State Street Corporation holds 4.67% of the shares totaling 10.98 million with a market value of $4.88 billion.
Elevance Health Inc (ELV) Insider Activity
The most recent transaction is an insider sale by Kendrick Charles Morgan JR, the company’s EVP & President, Commercial. SEC filings show that Kendrick Charles Morgan JR sold 2,432 shares of the company’s common stock on Mar 08 ’24 at a price of $500.46 per share for a total of $1.22 million. Following the sale, the insider now owns 15840.0 shares.
Elevance Health Inc disclosed in a document filed with the SEC on Mar 06 ’24 that Penczek Ronald W (CAO & Controller) sold a total of 916 shares of the company’s common stock. The trade occurred on Mar 06 ’24 and was made at $504.58 per share for $0.46 million. Following the transaction, the insider now directly holds 1764.0 shares of the ELV stock.
Still, SEC filings show that on Mar 04 ’24, Haytaian Peter D (EVP & Pres Carelon & CarelonRx) disposed off 21,095 shares at an average price of $500.18 for $10.55 million. The insider now directly holds 18,887 shares of Elevance Health Inc (ELV).
