Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate Elevance Health Inc before investing.

In this article, we go over a few key elements for understanding Elevance Health Inc’s stock price such as:

• Elevance Health Inc’s current stock price and volume
• Why Elevance Health Inc’s stock price changed recently
• Upgrades and downgrades for ELV from analysts
• ELV’s stock price momentum as measured by its relative strength

About Elevance Health Inc (ELV)

Before we jump into Elevance Health Inc’s stock price, history, target price and what caused it to recently dip, let’s take a look at some background.

Elevance Health, Inc. is a health company. It operates as a health insurer in the United States. The Company operates through four segments: Health Benefit, CarelonRx, Carelon Services, and Corporate & Other. The Health Benefits segment offers a comprehensive suite of health plans and services to Individual, employer group risk-based, employer group fee-based, BlueCard, Medicare, Medicaid and federal employees health benefits (FEHB) program members. The CarelonRx segment includes its pharmacy business. CarelonRx markets and offers pharmacy services to affiliated health plan customers, as well as to external customers outside of the health plans. It also offers infusible and injectable therapies. Carelon Services offers healthcare-related services and capabilities to internal and external customers including integrated care delivery, behavioral health, palliative care, utilization management, payment integrity services and subrogation services, as well as health and wellness programs.

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Elevance Health Inc’s Stock Price as of Market Close

As of July 17, 2024, 4:00 PM, CST, Elevance Health Inc’s stock price was $520.93.

Elevance Health Inc is down 5.82% from its previous closing price of $553.14.

During the last market session, Elevance Health Inc’s stock traded between $536.07 and $555.36. Currently, there are 232.70 million shares of Elevance Health Inc stock available for purchase.

Elevance Health Inc’s price-earnings (P/E) ratio is currently at 20.9, which is low compared to the Managed Health care industry median of 22.8. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

Elevance Health Inc Stock Price History

Elevance Health Inc’s (ELV) price is currently down 3.86% so far this month.

During the month of July, Elevance Health Inc’s stock price has reached a high of $555.36 and a low of $509.00.

Over the last year, Elevance Health Inc has hit prices as high as $555.36 and as low as $431.38. Year to date, Elevance Health Inc’s stock is up 1.55%.

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What Caused Elevance Health Inc Stock’s Price to Dip?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of July 16, 2024, there was 1 analyst who downgraded Elevance Health Inc’s stock and 0 analysts who upgraded over the last month.

Additionally, you'll want to evaluate Elevance Health Inc’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on Elevance Health Inc’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

Elevance Health Inc’s current valuation based on AAII’s Value Grade is a D, which means it is considered to be Expensive.

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Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about Elevance Health Inc (ELV) by visiting AAII Stock Evaluator.

Relative Price Strength of Elevance Health Inc

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of July 16, 2024, Elevance Health Inc has a weighted four-quarter relative price strength of -0.25%, which translates to a Momentum Score of 66 and is considered to be Strong.

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Elevance Health Inc Stock Price: Bottom Line

As of July 17, 2024, Elevance Health Inc’s stock price is $520.93, which is down 5.82% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like Elevance Health Inc stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

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