These Analysts Cut Their Forecasts On Elevance Health Following Q3 Earnings

Core Viewpoint - Elevance Health Inc. reported weaker-than-expected earnings for Q3, with revenues increasing but profits declining significantly [1][2]. Financial Performance - The company posted revenues of $44.7 billion, a 5.3% increase year-over-year, surpassing the consensus estimate of $43.33 billion [2]. - Profit fell 21% to $1.02 billion, translating to $4.36 per share, while adjusted earnings per share (EPS) were $8.37, down from $8.99 a year ago, missing the consensus of $9.66 [2]. Future Guidance - Elevance Health expects GAAP net income per diluted share to be approximately $26.50, down from prior guidance of at least $34.05 [2]. - The company forecasts adjusted EPS of $33.00, reduced from previous guidance of at least $37.20 and consensus of $37.26 [2]. Stock Performance - Following the earnings announcement, Elevance Health shares fell 3.4% to trade at $429.30 [2]. Analyst Ratings and Price Targets - Analysts have adjusted their price targets for Elevance Health: - Cantor Fitzgerald lowered the target from $600 to $485 [2]. - RBC Capital reduced the target from $585 to $478 [2]. - Truist Securities decreased the target from $620 to $520 [2]. - UBS lowered the target from $605 to $555 [2]. - The consensus price target for Elevance Health is $573.05 based on ratings from 24 analysts, with a high of $649 and a low of $478 [3].