There is noticeable activity in Elevance Health, Inc. (ELV) stocks with several wealth and investment firms like Marcum Wealth LLC, Wedmont Private Capital, and Nomura Holdings Inc. making significant purchases. Additionally, various firms including Churchill Management Corp and First Hawaiian Bank have sold a portion of their shares. Despite the sale of shares by some firms, Elevance Health stocks have rallied 11.8% YTD, and analysts predict it has more room to grow.
ELV's growth is attributed to the rising expenditure in healthcare, making it a strong growth and value stock. However, the company has decided to pause its $2.5B BCBSLA acquisition. ELV's Q1 2024 earnings also beat estimates and it has subsequently updated its FY 2024 earnings guidance. The company has struck a deal to better service Georgia and is set to unveil a primary care offering with CD&R.
The ELV stock's financial growth and technical strength are seen as signs to buy. They have also announced a dividend of $1.63. But there's concern about a 21% drop in Medicaid enrollment despite a $2.2B Q1 net profit. The company's EPS missed expectations in the first quarter of 2024.
Elevance Health ELV News Analytics from Fri, 12 Jan 2024 08:00:00 GMT to Sun, 23 Jun 2024 12:21:10 GMT - Rating 8 - Innovation 7 - Information 9 - Rumor 5
