Elevance Health Approaching Attractive Buy Point With Strong Earnings And Dividend Growth
Portfolio Pulse from Cory Mitchell
Elevance Health's stock price has stagnated in 2023 despite strong earnings growth, expected future growth, and an attractive forward Price/Earnings ratio. The stock is trading nearly 20% below its 52-week high, creating an attractive buy point. The company has grown earnings per share by 10.3% per year over the last five years and is expected to grow EPS by 12.7% per year over the next five years. It also has a forward P/E of 11.9 and a 1.3% dividend, which has been increasing by an average of 14.7% per year over the last 10 years.
September 01, 2023 | 6:06 pm
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POSITIVE IMPACT
Elevance Health's stock price has stagnated in 2023 despite strong earnings growth and expected future growth. The stock is trading nearly 20% below its 52-week high, creating an attractive buy point.
The stock is trading nearly 20% below its 52-week high, which is creating an attractive buy point. The company has strong earnings growth and expected future growth, which could potentially drive the stock price up in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
The SPDR S&P 500 ETF is trading about 2% below its 52-week high.
The ETF is trading close to its 52-week high, indicating that it is performing well. However, the news does not provide any specific information that could impact the ETF's price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
The Healthcare Select Sector SPDR is trading about 6% below its 52-week high.
The ETF is trading close to its 52-week high, indicating that it is performing well. However, the news does not provide any specific information that could impact the ETF's price in the short term.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50