Elevance Health Declines 20% in 3 Months: Time to Sell the Stock? [Yahoo! Finance]
Elevance Health, Inc. (ELV)
Company Research
Source: Yahoo! Finance
It has also lagged the broader Zacks Medical sector's 3.7% decline and the S&P 500's 10.4% rise in the said time frame. It has a market cap of $95.8 billion. Closing at $425.39 in the last trading session, the stock of the health benefit company stands 25% below its 52-week high of $567.26. Image Source: Zacks Investment Research Elevance Health has been grappling with a decline in medical membership due to member attrition in the Medicaid business, due to eligibility redeterminations and adjustments in Medicaid coverage areas across certain states. As of Sept. 30, 2024, overall membership declined 3% year over year. A decline in membership can dampen ELV's premium growth, which accounts for a major portion of its top line. Renowned health insurers like Humana Inc. HUM and Molina Healthcare, Inc. MOH also have exposure to the Medicaid business line. Elevance Health struggles with mounting expenses due to higher benefit costs and cost of products sold. An elevated expense level
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ELV
News
- Award-Winning Advocacy: AAFA Campaigns Earn Recognition for Social Impact [Yahoo! Finance]Yahoo! Finance
- Investors Will Want Elevance Health's (NYSE:ELV) Growth In ROCE To Persist [Yahoo! Finance]Yahoo! Finance
- OPEN MINDS & Qualifacts Partner on Data Innovation Masterclass Live on December 4 [Yahoo! Finance]Yahoo! Finance
- Elevance Health, Inc. Shareholders are Encouraged to Reach Out to Johnson Fistel for More Information about Potentially Recovering Their LossesGlobeNewswire
- Insiders At Elevance Health Sold US$12m In Stock, Alluding To Potential Weakness [Yahoo! Finance]Yahoo! Finance
ELV
Earnings
- 10/17/24 - Miss
ELV
Sec Filings
- 11/14/24 - Form SC
- 11/5/24 - Form 4
- 11/5/24 - Form 4
- ELV's page on the SEC website