Elevance Health Inc reaches 20-day high amid market strength
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 09 2024
0mins
Should l Buy ELV?
Source: Coinmarketcap
Elevance Health Inc's stock price increased by 3.00%, reaching a 20-day high of $353.91, reflecting positive momentum in the market.
This rise is attributed to broad market strength, with the Nasdaq-100 up 0.89% and the S&P 500 up 0.62%. The stock's position in the middle of its 52-week range indicates a cautious sentiment among investors, who are closely monitoring market dynamics as they reassess their strategies.
As the stock approaches its 52-week high, investor focus may shift, considering the significant volatility observed over the past year. This could lead to changes in investment strategies, particularly in the current economic climate.
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Analyst Views on ELV
Wall Street analysts forecast ELV stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for ELV is 392.07 USD with a low forecast of 320.00 USD and a high forecast of 431.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
11 Buy
4 Hold
0 Sell
Moderate Buy
Current: 332.250
Low
320.00
Averages
392.07
High
431.00
Current: 332.250
Low
320.00
Averages
392.07
High
431.00
About ELV
Elevance Health, Inc. is a health company. It operates as a health insurer in the United States. The Company operates through four segments: Health Benefits, CarelonRx, Carelon Services and Corporate & Other. The Health Benefits segment offers a comprehensive suite of health plans and services to its Individual, Employer Group risk-based, Employer Group fee-based, BlueCard, Medicare, Medicaid and Federal Employee Program (FEP) members. The Health Benefits segment also offers health products on a full-risk basis. The CarelonRx segment includes its pharmacy services business. CarelonRx markets and offers pharmacy services to its affiliated health plan customers, as well as to external customers outside of the health plans. The Carelon Services segment integrates physical, behavioral, pharmacy, and social services by offering an array of healthcare-related services and capabilities to internal and external customers through its Carelon Health and Carelon Insights businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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