Elevance Health Inc. ($ELV) Stock Forecast: Up 5.7% Today

What is Elevance Health Inc.?

Elevance Health Inc. (ELV) specializes in health benefits and pharmaceutical products, with its stock experiencing significant upward movement today.

Why is Elevance Health Inc. going up?

ELV stock is up 5.7% on Oct 18, 2024 13:36

• ELV posted third-quarter revenues of $44.7 billion, surpassing predictions and demonstrating a 5.3% year-over-year growth, driven by increased premium yields in the Health Benefits segment and CarelonRx product revenue expansion.
• Despite the favorable revenue uptick, ELV's earnings were negatively impacted by reduced Medicaid and Medicare memberships, resulting in an earnings shortfall compared to expectations.
• The market responded positively to the revenue outperformance but exhibited some caution in light of the earnings miss and subdued annual forecast, leading to fluctuations in the stock's price.
• Investors are currently pondering whether ELV will exceed estimates in the upcoming earnings release, reflecting sustained intrigue and uncertainty concerning the company's performance.

ELV Price Chart

ELV Technical Analysis

ELV News

Why Is Elevance Health Stock Trading Lower On Thursday? - Evolent Health ( NYSE:EVH )

Elevance Health Inc. ELV reported on Thursday third-quarter revenues of $44.7 billion, up 5.3% year-over-year, beating the consensus of $43.33 billion. The increase was driven by higher premium yields in the Health Benefits segment and growth in CarelonRx product revenue, partially offset by ...

https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41388721/why-is-elevance-health-stock-trading-lower-on-thursday

Elevance Health's Q3 Earnings Miss Due to Medicaid Redeterminations

ELV's third-quarter earnings are hurt by declining membership in Medicaid and Medicare, partially offset by improved product revenues.

https://www.zacks.com/stock/news/2352633/elevance-healths-q3-earnings-miss-due-to-medicaid-redeterminations

Elevance Health's Q3 Earnings: Profit Falls Short Of Expectations On Higher Medical Costs, Issues Soft Annual Outlook - Elevance Health ( NYSE:ELV )

On Thursday, Elevance Health Inc. ELV reported third-quarter revenues of $44.7 billion, up 5.3% year-over-year, beating the consensus of $43.33 billion. The increase was driven by higher premium yields in the Health Benefits segment and growth in CarelonRx product revenue, partially offset by ...

https://www.benzinga.com/news/earnings/24/10/41379220/elevance-healths-q3-earnings-profit-falls-short-of-expectations-on-higher-medical-costs-issues-soft

Elevance Health ( ELV ) Q3 Earnings Lag Estimates

Elevance Health (ELV) delivered earnings and revenue surprises of -13.71% and 3.37%, respectively, for the quarter ended September 2024. Do the numbers hold clues to what lies ahead for the stock?

https://www.zacks.com/stock/news/2351975/elevance-health-elv-q3-earnings-lag-estimates

Will Elevance Health ( ELV ) Beat Estimates Again in Its Next Earnings Report?

Elevance Health (ELV) has an impressive earnings surprise history and currently possesses the right combination of the two key ingredients for a likely beat in its next quarterly report.

https://www.zacks.com/stock/news/2351712/will-elevance-health-elv-beat-estimates-again-in-its-next-earnings-report

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Elevance Health Inc. Price History

17.09.2024 - ELV Stock was down 15.3%

• Elevance Health's Q3 earnings disappointed, as profits were below estimates due to issues with medical costs, resulting in a pessimistic market sentiment.
• While the company had a history of surpassing earnings expectations, the latest quarterly results fell short, leading to a drop in the stock price.
• Concerns about Elevance Health's less optimistic annual forecast may be influencing the market's reaction, suggesting possible obstacles for the company in the future.
• Investors who had gained substantial profits over the past decade may be capitalizing on their returns, contributing to today's bearish movement in the stock.

17.09.2024 - ELV Stock was down 12.6%

• ELV reported third-quarter revenues that beat expectations, driven by higher premium yields and product revenue growth, but the stock still experienced a bearish movement.
• The profit falling short of expectations and issuing a soft annual outlook may have contributed to investor concerns and selling pressure on the stock.
• Despite the recent underperformance, ELV has a history of beating earnings estimates, which could indicate potential volatility in the stock price based on future reports.
• The stock's impressive long-term performance, with a significant increase in value over the past decade, may have attracted profit-taking from investors leading to the bearish movement today.

18.09.2024 - ELV Stock was up 5.7%

• ELV posted third-quarter revenues of $44.7 billion, surpassing predictions and demonstrating a 5.3% year-over-year growth, driven by increased premium yields in the Health Benefits segment and CarelonRx product revenue expansion.
• Despite the favorable revenue uptick, ELV's earnings were negatively impacted by reduced Medicaid and Medicare memberships, resulting in an earnings shortfall compared to expectations.
• The market responded positively to the revenue outperformance but exhibited some caution in light of the earnings miss and subdued annual forecast, leading to fluctuations in the stock's price.
• Investors are currently pondering whether ELV will exceed estimates in the upcoming earnings release, reflecting sustained intrigue and uncertainty concerning the company's performance.

04.08.2024 - ELV Stock was down 4.6%

• Despite being highlighted as one of the best stocks to buy, ELV faced a significant decline in its market value.
• The bearish movement could be attributed to potential profit-taking by investors who may have previously bought into the stock based on recommendations.
• It's essential for investors to conduct thorough research and not solely rely on external recommendations, as market dynamics can quickly change, leading to unexpected downturns in stock prices.

15.09.2024 - ELV Stock was down 5.0%

• Today's bearish trend in ELV could be attributed to investors' cautious approach in anticipation of the company's Q3 earnings announcement.
• Despite forecasts of increased operating income from the Carelon business, there may be apprehensions about ELV's ability to meet Wall Street's projections for key performance indicators.
• The absence of the necessary elements for a probable earnings surpass, alluded to previously, may have influenced the downward pressure on ELV's stock.
• Investors could be stepping back to review their holdings in ELV, considering uncertainties surrounding the imminent earnings update.

13.05.2024 - ELV Stock was up 2.0%

• The bullish movement in ELV stock could be attributed to the positive earnings outlook projected for 2024, indicating strong growth potential for the company.
• Investor optimism following the company's communication about their earnings outlook may have contributed to the upward movement in the stock price.
• The market's positive reaction to the news of Elevance Health's future earnings could have driven increased buying interest and pushed the stock price higher.

31.04.2024 - ELV Stock was up 5.1%

• Elevance Health's stock (ELV) experienced a bullish trend today, potentially influenced by its presence at a healthcare conference, showcasing its growth potential and market presence.
• The positive sentiment around Elevance Health could also be attributed to its impressive long-term performance, with a 5.0% outperformance of the market on an annualized basis over the past 15 years.
• Shares of U.S. health insurers, including Elevance Health, declined due to Medicaid enrollment issues faced by UnitedHealth Group, causing a temporary dip in the stock price. However, the overall bullish trend continued, supported by the company's strong fundamentals and growth prospects.

18.03.2024 - ELV Stock was up 5.8%

• ELV reported a strong Q1 net profit of $2.2 billion, surpassing expectations despite a 21% drop in Medicaid enrollment. This positive financial performance likely boosted investor confidence and drove the bullish movement in the stock.
• The company's decision to raise its 2024 earnings outlook also contributed to the uptrend in ELV shares, signaling a positive growth trajectory for the company.
• Analyst projections aligning with ELV's Q1 earnings further reinforced market optimism towards the stock, attracting more investors to buy shares.
• The overall positive earnings snapshot and beating of Q1 earnings estimates provided a solid fundamental basis for the bullish movement in ELV, reflecting the company's resilience and ability to navigate challenges in the healthcare industry.

31.04.2024 - ELV Stock was up 5.0%

• ELV stock saw a bullish uptrend today, potentially due to its participation in the Goldman Sachs 45th Annual Global Healthcare Conference.
• Being recognized as a top choice by Baird in the managed care sector, alongside other healthcare firms, might have also played a role in the positive market performance.
• ELV's consistent long-term market outperformance, with an average annual return of 17.09% over 15 years, likely appealed to investors seeking steady growth prospects.
• The general optimism towards healthcare stocks, reflected in Cigna Group's rising RS rating, may have additionally bolstered investor confidence in ELV's future growth potential.

17.06.2024 - ELV Stock was down 5.1%

• ELV surpassed expectations for earnings and revenue in Q2 but saw a significant drop in market value.
• The market's reaction to ELV's strong quarterly performance may be linked to concerns about its future growth potential.
• Investor attention may have shifted to factors like guidance and general market trends, contributing to the downward trend.
• The decrease in ELV's stock price following positive financial results could be attributed to profit-taking or broader market sentiment.

17.06.2024 - ELV Stock was down 6.0%

• ELV stock declined despite beating earnings and revenue estimates, driven by a decrease in Medicaid membership, raising concerns about future growth.
• Investors seemed disappointed by the slight year-over-year decline in second-quarter revenues, even though they surpassed consensus expectations.
• The market response emphasized the focus on the Medicaid membership drop and its potential impact on the company's future, overshadowing the positive earnings beat.
• The contrasting signals from the earnings beat and membership decline underscore the need to consider all aspects of a company's performance in evaluating stock movement.

17.06.2024 - ELV Stock was down 5.9%

• Despite Elevance Health surpassing earnings expectations and reiterating its yearly guidance, the stock faced a downward trend.
• Market response to indicators of escalating medical expenditures and reduced Medicaid enrollment prompted investor wariness regarding the company's future earnings.
• The robust growth in product revenue within the Carelon sector and reduced benefit expenses were overshadowed by apprehensions about the company's financial prospects, leading to its stock decline.
• Investors could be adopting a more cautious approach towards Elevance Health due to uncertainties concerning its profitability sustainability amidst escalating costs and membership attrition.