Yahoo Finance Why Elevance Health (ELV) is a Top Value Stock for the Long-Term
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
Many investors also have a go-to methodology that helps guide their buy and sell decisions. One way to find winning stocks based on your preferred way of investing is to use the Zacks Style Scores, which are indicators that rate stocks based on three widely-followed investing types: value, growth, and momentum.
Why Investors Should Pay Attention to This Value Stock
Different than growth or momentum investors, value-focused investors are all about finding good stocks at good prices, and discovering which companies are trading under what their true value is before the broader market catches on. The Value Style Score utilizes ratios like P/E, PEG, Price/Sales, and Price/Cash Flow to help pick out the most attractive and discounted stocks.
Elevance Health (ELV)
Based in Indianapolis, IN, Elevance Health is one of the largest publicly traded health insurers in the United States, in terms of membership. The company was previously named Anthem, Inc. Effective Jun 27, 2022, the corporate name was changed to Elevance Health and began trading under the ticker “ELV” on Jun 28. Before Anthem, it was named WellPoint Inc.
ELV sits at a Zacks Rank #3 (Hold), holds a Value Style Score of A, and has a VGM Score of A. Compared to the Medical Services industry's P/E of 20.5X, shares of Elevance Health are trading at a forward P/E of 13.6X. ELV also has a PEG Ratio of 1.1, a Price/Cash Flow ratio of 12.3X, and a Price/Sales ratio of 0.7X.
A company's earnings performance is important for value investors as well. For fiscal 2023, 10 analysts revised their earnings estimate higher in the last 60 days for ELV, while the Zacks Consensus Estimate has increased $0.07 to $32.79 per share. ELV also holds an average earnings surprise of 3.2%.
With strong valuation and earnings metrics, a good Zacks Rank, and top-tier Value and VGM Style Scores, investors should strongly think about adding ELV to their portfolios.
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Elevance Health, Inc. (ELV) : Free Stock Analysis Report
