Elevance Health Inc. (NYSE:ELV) traded at $490.64 at last check on Tuesday, 01/24/23, made an upward move of 2.53% on its previous day’s price.
Looking at the stock we see that its previous close was $478.52 and the beta (5Y monthly) reads 0.89 with the day’s price range being $474.75 – $482.00. The company has a trailing 12-month PE ratio of 18.78. In terms of its 52-week price range, ELV has a high of $549.52 and a low of $420.73. The company’s stock has lost about -6.33% over that past 30 days.
Elevance Health Inc. has a market cap of $114.46 billion and is expected to release its quarterly earnings report on Jan 25, 2023. With its Forward Dividend at 5.12 and a yield of 1.07%, the company’s investors could be anxious for the ELV stock to gain ahead of the earnings release. Estimates by analysts give the company expected earnings per share (EPS) of $5.19, with the EPS growth for the year raised at $29.02 for 2022 and $32.67 for next year. These figures represent 11.70% and 12.60% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $39.76 billion, with a low of $39.17 billion and a high of $40.9 billion. The median projection represents growth squeezing down to 10.40% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2022 is expected to hit $156.04 billion, or 13.90% up from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the ELV stock, short term indicators assign the stock an average of 50% Sell, while medium term indicators assign it an average of 50% Buy. Long term indicators on average place the stock in the category of 100% Buy.
Looking further, we note that the PEG ratio for the ELV stock currently stands at 1.58, and the most recent price level today is 0.60% off its SMA20 and -2.14% from its 50-day simple moving average. The RSI (14) is pointing at 50.42 while the volatility over the past week is 2.02% and jumps to 2.25% over the past one month. The beta value is 0.88, while the average true range (ATR) is currently pointing at 11.09.
Let’s briefly compare Elevance Health Inc. (ELV) stock to its peers. We find that today’s price change of 2.53% and 8.37% over the past 12 months for ELV competes that of UnitedHealth Group Incorporated (UNH), which has seen its stock price rise 0.38% in the latest trading session and is 6.60% over the last one year. Another of its peers Cigna Corporation (CI) has gained 1.44% today, and was 30.79% up over the past year, while Humana Inc. (HUM) is also up 1.83% yet, while its price remains in the green at 33.34% over the same period. Elevance Health Inc. has a P/E ratio of 18.78 compared to UnitedHealth Group Incorporated’s 23.21 and Cigna Corporation’s 14.76. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial are today at -1.45% and -1.08%, respectively, in early deals.
Coming back to Elevance Health Inc. (NYSE:ELV), we note that the average 3-month trading volume was 1.13 million, while that of the preceding 10-day period stands at 1.06 million. Current shares outstanding are 239.60 million.
The insiders hold 0.10% of the company’s shares while institutions hold 92.80%. The data shows that short shares as of Dec 29, 2022, stood at 1.86 million at a short ratio of 1.88. This represents a 0.78% short interest in shares outstanding on Dec 29, 2022. Shares short fall in December from the previous month at 1.95 million. Investors should be excited about this stock as its upside potential is great, with today’s price pushing the stock -6.72% down in year-to-date price movement.