Elevance Health reaches a 20-day high amid sector rotation.
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 26 2024
0mins
Should l Buy ELV?
Source: SeekingAlpha
Elevance Health Inc saw a price increase of 3.03%, reaching a 20-day high. This movement occurs in the context of broader market declines, with the Nasdaq-100 down 1.47% and the S&P 500 down 0.71%.
The stock's rise is attributed to sector rotation, as investors are shifting their focus towards companies with strong growth potential, such as Elevance Health, despite the overall market weakness. The recent appointment of Amy Schulman as an independent director is expected to enhance the company's strategic direction and governance, further attracting investor interest.
This upward movement suggests that Elevance Health is gaining traction among investors looking for stability and growth in the healthcare sector, particularly as the company continues to innovate and improve member experiences through technology.
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Analyst Views on ELV
Wall Street analysts forecast ELV stock price to rise
15 Analyst Rating
11 Buy
4 Hold
0 Sell
Moderate Buy
Current: 344.780
Low
332.00
Averages
389.07
High
425.00
Current: 344.780
Low
332.00
Averages
389.07
High
425.00
About ELV
Elevance Health, Inc. is a health company. It operates as a health insurer in the United States. The Company operates through four segments: Health Benefits, CarelonRx, Carelon Services and Corporate & Other. The Health Benefits segment offers a comprehensive suite of health plans and services to its Individual, Employer Group risk-based, Employer Group fee-based, BlueCard, Medicare, Medicaid and Federal Employee Program (FEP) members. The Health Benefits segment also offers health products on a full-risk basis. The CarelonRx segment includes its pharmacy services business. CarelonRx markets and offers pharmacy services to its affiliated health plan customers, as well as to external customers outside of the health plans. The Carelon Services segment integrates physical, behavioral, pharmacy, and social services by offering an array of healthcare-related services and capabilities to internal and external customers through its Carelon Health and Carelon Insights businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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