Elevance Health, Inc. (ELV) Monthly Report
Publication Date: September 22, 2024
Company Overview
Elevance Health, Inc. (ELV), formerly known as Anthem, Inc., stands as a leading health benefits company based in Indianapolis, Indiana. With a focus on comprehensive healthcare solutions, Elevance operates across four primary segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. As a notable player in the Managed Health Care sub-industry, Elevance is dedicated to delivering innovative solutions that address the evolving needs of the healthcare landscape. The company boasts impressive total revenue of $171.72 billion, reflecting strong market performance and stability, thus presenting a compelling investment case for both individual and institutional investors.
Stock Performance and Market Outlook
The current stock price of Elevance Health is $539.86, sitting comfortably above its fifty-day moving average of $535.78. Analysts have placed a bullish outlook on the stock, with a high target price set at $665.00 and a mean target price of $602.60, indicating significant upside potential for investors. The stock has demonstrated volatility, with a fifty-two week high of $567.26 and a low of $431.38, underscoring the importance of these metrics for prospective investors. Additionally, the low short interest of approximately 0.0077% signals confidence among shareholders, while the average recommendation from 19 analysts holds a strong buy score of 1.9, reinforcing the stock’s optimistic outlook.
Investment Strategy and Recommendations
Given the robust positioning of Elevance Health within the healthcare plans industry and its strong revenue performance, analysts recommend a strategic buy for potential investors. The blend of a solid financial foundation, low short interest, and favorable analyst ratings underscores the stock’s potential for meaningful long-term gains. As the healthcare sector continues to evolve, Elevance’s focus on innovation and comprehensive service offerings renders it a promising opportunity for those looking to enhance their investment portfolios.
Investors should consider Elevance Health, Inc. (ELV) for its growth potential in the healthcare market driven by solid operational metrics and a bullish market sentiment.
| Metric | Value |
|---|---|
| Market Cap | $125.2b |
| Total Debt | $30.4b |
| Total Cash | $36.0b |
| Shares Outstanding | 231.9m |
| Float Shares | 231.4m |
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