Last Updated: 15 Sep 2024
Executive Summary
Elevance Health Inc. (ELV) is a leading health benefits company with a strong financial position and a commitment to innovation. The company's recent financial performance has been solid, with revenue and earnings growth in the latest quarter. Analysts are generally positive on the stock, with a consensus price target of $602.6. The stock is currently trading at a discount to its fair value, making it an attractive investment opportunity for long-term investors.
Company Overview
Elevance Health Inc. is a health benefits company that provides a wide range of products and services to individuals, families, and employers. The company's products include health insurance, dental insurance, vision insurance, and life insurance. Elevance Health also provides a variety of wellness programs and services to its members.
The company is headquartered in Indianapolis, Indiana, and has operations in all 50 states. Elevance Health is one of the largest health benefits companies in the United States, with over 100 million members.
Fundamental Analysis
Elevance Health's financial performance has been solid in recent quarters. In the latest quarter, the company reported revenue of $171.7 billion, a decrease of 0.001% year-over-year. Net income was $5.3 billion, an increase of 26.4% year-over-year. Diluted EPS was $28.53, an increase of 26.4% year-over-year.
The company's financial position is also strong. As of December 31, 2023, Elevance Health had $113.8 billion in cash and equivalents and $11.4 billion in debt. The company's debt-to-equity ratio is 0.10, which is considered to be a conservative level of leverage.
Technical Analysis
The technical analysis of Elevance Health's stock price shows that the stock is currently in a bullish trend. The stock has been trading above its 50-day and 200-day moving averages for the past several months. The stock's relative strength index (RSI) is also in bullish territory, indicating that the stock is not overbought.
Short Term Outlook
The short-term outlook for Elevance Health's stock is positive. The stock is currently trading above its key technical levels and the RSI is in bullish territory. This indicates that the stock is likely to continue to trend higher in the short term.
Long Term Outlook
The long-term outlook for Elevance Health's stock is also positive. The company has a strong financial position and a commitment to innovation. The company's products and services are in high demand, and the company is well-positioned to benefit from the growing demand for healthcare services.
Analyst Recommendations
Analysts are generally positive on Elevance Health's stock. The consensus price target is $602.6, which represents a potential upside of 9.3% from the current price. Seven analysts have a strong buy rating on the stock, 12 have a buy rating, four have a hold rating, and none have a sell or strong sell rating.
