Streetbeat News

ELV

Elevance Health Inc.

https://www.elevancehealth.com

Industry

Medical - Healthcare Plans

Elevance Health Inc. operates as a health benefits company. It supports consumers, families, and communities across the entire care journey connecting to the care, support, and resources to lead healthier lives. It serves approximately 118 million people through a portfolio of medical, digital, pharmacy, behavioral, clinical, and care solutions. The company was formerly known as Anthem, Inc. and changed its name to Elevance Health Inc. in June 2022. Elevance Health Inc. was founded in 1944 and is headquartered in Indianapolis, Indiana.

Open

405.00

Mkt cap

93B

Volume

2.6M

High

408.58

P/E Ratio

14.58

52-wk high

567.26

Low

398.69

Div yield

0.02

52-wk low

397.98

An Israeli air strike killed a top Iranian general, causing oil prices to rise and impacting stock market sentiment negatively due to inflation concerns. Tesla Inc and several healthcare companies including CVS Health Corp, Elevance Health Inc, UnitedHealth Group Inc, and Humana Inc are facing selling pressure due to disappointing news. Early trade shows negative money flows in major tech stocks and ETFs, while the momo crowd is buying stocks and gold. The United States Oil ETF is popular among oil buyers. Investors are advised to adjust their protection bands in light of these developments.

Portfolio Pulse from The Arora Report

April 02, 2024 | 2:57 pm

Shares of healthcare providers CNC, CVS, ELV, HUM, MOH, and UNH are trading lower following the CMS's finalization of payment updates for the 2025 Medicare Advantage and Medicare Part D programs.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 11:04 am

Shares of healthcare providers CNC, CVS, ELV, HUM, MOH, and UNH are trading lower following the CMS's finalization of payment updates for the 2025 Medicare Advantage and Medicare Part D programs.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 8:35 pm

Elevance Health (NYSE:ELV) has significantly outperformed the market with an average annual return of 18.23% over the past 10 years, turning a $100 investment into $534.11 today. The company's market capitalization stands at $120.06 billion.

Portfolio Pulse from Benzinga Insights

April 01, 2024 | 8:30 pm

A study reveals Novo Nordisk's diabetes drug Ozempic could be produced for under $5, contrasting its $1,000 U.S. price tag. The study, involving Yale University and others, highlights the affordability issue in diabetes care. Major insurers like CVS Health and Elevance Health announced coverage for another Novo Nordisk drug, Wegovy, for certain Medicare patients. Novo Nordisk defends its pricing, citing significant R&D investments and efforts to ensure patient access through rebates and discounts.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 4:54 pm

Major U.S. health insurers including CVS Health Inc (CVS), Elevance Health Inc (ELV), and Kaiser Permanente will start covering Novo Nordisk A/S's (NVO) Wegovy, an anti-obesity drug, for certain Medicare patients with heart-related conditions. This decision, following new CMS guidelines, marks a significant policy shift as weight-loss drugs were previously excluded from Medicare coverage. The coverage extension could lead to increased drug spending for insurers. Novo Nordisk's shares rose 0.83% to $129.11.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 2:25 pm

Elevance Health (NYSE:ELV) has seen a 15.56% decrease in short interest, now at 1.76 million shares or 0.76% of float, indicating a potential shift in market sentiment towards more bullish views. The current short interest is significantly lower than the peer group average of 4.27%, suggesting Elevance Health is performing well compared to its peers. This change in short interest could influence the stock's short-term movement.

Portfolio Pulse from Benzinga Insights

March 26, 2024 | 5:00 pm

The Kroger Company (NYSE:KR) has agreed to sell its specialty pharmacy business to CarelonRx, a subsidiary of Elevance Health, Inc. (NYSE:ELV), for an undisclosed amount. The deal excludes Kroger's in-store retail pharmacies and The Little Clinics. This transaction, expected to close in the second half of 2024, is not anticipated to affect Kroger's 2024 guidance. Kroger's specialty pharmacy caters to patients with chronic illnesses requiring complex care. The sale is part of Kroger's asset review strategy to optimize its business units.

Portfolio Pulse from Lekha Gupta

March 19, 2024 | 4:18 pm

Kroger has entered into a definitive agreement to sell its specialty pharmacy business, which caters to patients with chronic illnesses requiring complex care. The transaction is subject to customary closing conditions and is expected to close in the second half of 2024.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 8:20 pm

Over the past 15 years, Elevance Health (NYSE:ELV) has produced an average annual return of 19.3%, outperforming the market by 5.96%. A $100 investment in ELV 15 years ago would now be worth $1,341.19. Elevance Health currently has a market capitalization of $117.63 billion.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 3:30 pm

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