Why Elevance Health Stock Is Trading Higher Premarket Today?
Portfolio Pulse from Vandana Singh
Elevance Health Inc (NYSE:ELV) reported Q2 FY23 adjusted EPS of $9.04, up 13.4% Y/Y, beating the consensus of $8.80. Revenue increased 13% to $43.67 billion, primarily driven by premium rate increases in the Health Benefits business and higher premium revenue due to membership growth in Medicaid and Medicare. The company expects adjusted net income to be greater than $32.85 per share, higher than prior guidance. Despite the positive report, ELV shares are down 5.25% in premarket trading.
July 19, 2023 | 11:55 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Elevance Health reported strong Q2 FY23 results, beating EPS and revenue estimates and raising its guidance. However, its stock is down 5.25% in premarket trading.
Elevance Health reported strong Q2 FY23 results, beating EPS and revenue estimates and raising its guidance. These are typically positive signals that could drive the stock price up. However, the stock is trading down in the premarket, which could be due to factors not mentioned in the article, such as broader market trends or investor sentiment. Therefore, the short-term impact on the stock price is negative.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100