Elevance Health's (ELV) preliminary Q1 earnings, reaffirmed 2025 guidance and indications on expected cost trends helped ease market concerns, Truist said Thursday in a report.
The company expects Q1 adjusted net income of $11.97 per diluted share, topping Truist's estimate of $11.58 and the consensus of $11.32. Elevance Health plans to reaffirm 2025 adjusted net income guidance of $34.15 to $34.85 a share.
Elevance Health indicated "medical cost trends developed in line with expectations" in Q1, including in Medicare Advantage, Truist said.
Truist maintained its buy rating on Elevance Health stock with a $510 price target
Full Q1 results are set for Tuesday.
Elevance Health shares fell 2% in recent Thursday trading.
Price: 426.39, Change: -8.65, Percent Change: -1.99
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