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Wire

Elevance Health Pick of the Week at Smart Insider Following CEO, Chairman Share Purchases

Elevance Health (ELV) was Smart Insider's stock pick of the week after Chief Executive Gail Boudreaux and Chair Ramiro Peru bought company shares on July 17.Boudreaux, who has served as president and chief executive since November 2017, acquired $1 million in stock at $367.79 apiece, increasing her stake by 2%, Smart Insider said in a Tuesday note.The purchase was her third since becoming CEO and followed a $2.4 million acquisition at $287 per share in July 2025, according to the note.Smart Insider said Boudreaux's buying and selling record has been strong and described it as "encouraging" that she returned to buying at a price about 28% above last year's purchase.Peru, who became chair in May 2025 after joining the board in 2004, bought $366,000 of stock on the same day, Smart Insider said, adding that the transaction was his first purchase since 2008 and followed a series of share sales.Smart Insider ranked Elevance Health +1, indicating a strong positive signal.Price: $371.00, Change: $-7.36, Percent Change: -1.95%

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Insider Trading

Elevance Health Insider Bought Shares Worth $1,002,230, According to a Recent SEC Filing

Gail Boudreaux, Director, President and CEO, on July 17, 2026, executed a purchase for 2,725 shares in Elevance Health (ELV) for $1,002,230. Following the Form 4 filing with the SEC, Boudreaux has control over a total of 172,036 common shares of the company, with 171,976 shares held directly and 60 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1156039/000128792026000006/xslF345X05/wk-form4_1784310641.xmlPrice: $369.48, Change: $-3.37, Percent Change: -0.90%

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Wire

Elevance Health's Strong Q2 Prompts Higher 2026-27 Estimates, Truist Says

Elevance Health (ELV) strong Q2 results and higher 2026 guidance set the stage for improved long-term expectations, Truist Securities said Thursday in a report.Truist increased its 2026 EPS estimate to $27.12 from $26.84 and lifted its 2027 forecast to $29.14 from $29 after incorporating the Q2 beat and updated guidance.Q2 results topped expectations on revenue, medical loss ratio and adjusted EPS, helped by strong Medicare Advantage and Affordable Care Act performance, and Medicaid results were in line with management's expectations, the report said.Carelon, the health-services arm, continues to generate steady growth and cross-selling opportunities, with ongoing investments expected to improve operations across several areas, Truist said.Elevance raised its full-year cash-flow-from-operations guidance to at least $6 billion from $5.5 billion.Truist reiterated its buy rating on Elevance stock and maintained its $475 price target.Price: $373.43, Change: $-16.90, Percent Change: -4.33%

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Sectors

Sector Update: Healthcare Stocks Advance Late Afternoon

Healthcare stocks rose late Wednesday afternoon, with the NYSE Healthcare Index adding 0.3% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.1%.The iShares Biotechnology ETF (IBB) added 0.5%.In corporate news, Novo Nordisk (NVO) shares gained 2.9% after it said Wednesday the European Commission granted marketing authorization for its Wegovy pill for the treatment of adults with obesity or overweight with at least one weight-related comorbidity, as an adjunct to a reduced-calorie diet and increased physical activity.Elevance Health (ELV) reported sequential and annual declines in its Q2 memberships, although the health insurer lifted its full-year earnings outlook and recorded an unexpected year-over-year revenue increase in the previous three-month period. The shares fell past 9%.Veradermics (MANE) shares jumped 12% after the company said its VDPHL01 achieved rapid onset of hair growth with the majority of participants in a phase 2 clinical trial of females with mild-to-moderate pattern hair loss.Eli Lilly-backed (LLY) AdvanCell has raised $315 million from its Series D financing, with participating investors such as Bain Capital and Fidelity Management & Research, Bloomberg reported. Lilly shares were fractionally higher.

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Wire

Top Midday Decliners

Pentair (PNR) reported preliminary Q2 results below market estimates and lowered its full-year outlook amid headwinds related to its pool segment.Pentair CFO Nick Brazis' unexpected departure, just four months after his appointment, adds near-term skepticism on the stock, RBC said in a note. RBC downgraded the stock to sector perform from outperform.Shares slumped 14%, with intraday trading volume rising to more than 8.5 million from a daily average of about 2.3 million.Elevance Health (ELV) reported sequential and annual declines in membership for Q2, although the health insurer lifted its full-year earnings outlook and recorded an unexpected year-over-year revenue increase.Shares declined 8.7% as intraday trading volume jumped to over 2.4 million from a daily average of about 1.7 million.Evercore ISI cut its Progressive's (PGR) price target to $230 from $240 following the release of the company's Q2 results.Shares declined 9%, with intraday trading volume of over 3.8 million against a daily average of roughly 3.1 million.Price: $64.49, Change: $-11.19, Percent Change: -14.79%

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Sectors

Sector Update: Healthcare Stocks Advance in Afternoon Trading

Healthcare stocks rose Wednesday afternoon, with the NYSE Healthcare Index adding 0.4% and the State Street Health Care Select Sector SPDR ETF (XLV) increasing 0.3%.The iShares Biotechnology ETF (IBB) added 0.3%.In corporate news, Novo Nordisk (NVO) shares rose 2.5% after it said Wednesday the European Commission granted marketing authorization for its Wegovy pill for the treatment of adults with obesity or overweight with at least one weight-related comorbidity, as an adjunct to a reduced-calorie diet and increased physical activity.Elevance Health (ELV) reported sequential and annual declines in its Q2 memberships, although the health insurer lifted its full-year earnings outlook and recorded an unexpected year-over-year revenue increase in the previous three-month period. The shares fell past 8%.Johnson & Johnson (JNJ) raised its full-year outlook on Wednesday after reporting better-than-expected Q2 results, driven by growth in its innovative medicine and medical device businesses. Its shares were still down 1.7%.Eli Lilly-backed (LLY) AdvanCell has raised $315 million from its Series D financing, with participating investors such as Bain Capital and Fidelity Management & Research, Bloomberg reported. Lilly shares shed 0.4%.

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Wire

Top Midday Stories: PayPal Reportedly Gets Acquisition Offer From Stripe, Advent; ASML Misses Q2 EPS, Sales Estimates, Lifts Outlook

All three major US stock indexes were up in late-morning trading Wednesday, as technology stocks led the way up and additional inflation data showed further cooling.The US Producer Price Index fell by 0.3% in June, below expectations of a flat reading in a survey compiled by Bloomberg as of 7:25 a.m. ET and after a 0.6% increase in May. Core PPI, which excludes food and energy prices, rose by 0.2%, below the 0.3% gain expected and following a 0.1% gain in May.In company news, Stripe and Advent International have offered to acquire PayPal (PYPL) for $60.50 per share in a deal that would value the company at over $53 billion, Reuters reported late Tuesday, citing two people familiar with the matter. Under the proposal, Stripe and Advent would each own a 50% stake in PayPal. The two payments firms have not received a response from PayPal but are seeking to advance talks in the coming weeks, the report said. PayPal shares were up 16.5% around midday.ASML (ASML) reported Q2 earnings Wednesday of 7.58 euros ($8.66) per diluted share, up from 5.90 euros a year earlier but below the FactSet consensus analyst estimate of 8.59 euros. Second-quarter net sales were 9.33 billion euros, up from 7.69 billion euros a year ago but below the FactSet consensus of 10.44 billion euros. For Q3, the company said it expects sales of 11 billion euros to 12 billion euros, compared with the FactSet consensus of 11.70 billion euros. For full-year 2026, ASML expects sales of 43 billion euros to 45 billion euros, up from its previous guidance of 36 billion euros to 40 billion euros and above the FactSet consensus of 39.90 billion euros. ASML shares were down 0.7%.Johnson & Johnson (JNJ) reported fiscal Q2 adjusted earnings Wednesday of $2.90 per diluted share, up from $2.77 a year earlier and above the FactSet consensus of $2.85. Fiscal Q2 reported sales were $25.31 billion, up from $23.74 billion a year ago and above the FactSet consensus of $25.02 billion. For fiscal 2026, the company said it expects adjusted EPS of $11.60 to $11.75, up from its previous guidance of $11.45 to $11.65 and above the FactSet consensus of $11.59. Johnson & Johnson also lifted its full-year sales guidance to a range of $100.8 billion to $101.4 billion from $100.3 billion to $101.3 billion. Analysts expect $101.06 billion. Johnson & Johnson shares were down 1%.Morgan Stanley (MS) reported Q2 earnings Wednesday of $3.46 per diluted share, up from $2.13 a year earlier and above the FactSet consensus of $2.89. Second-quarter net revenue was $21.35 billion, up from $16.79 billion a year ago and above the FactSet consensus of $19.67 billion. Morgan Stanley shares were down 0.7%.BlackRock (BLK) reported Q2 adjusted earnings Wednesday of $13.91 per share, up from $12.05 a year earlier and above the FactSet consensus of $12.69. Second-quarter revenue was $7.08 billion, up from $5.42 billion a year ago and above the FactSet consensus of $6.73 billion. BlackRock shares were up 7.6%.Elevance Health (ELV) reported Q2 adjusted earnings Wednesday of $7.45 per diluted share, down from $8.84 a year earlier but above the FactSet consensus of $6.21. Second-quarter operating revenue was $49.83 billion, up from $49.42 billion a year ago and above the FactSet consensus of $48.84 billion. The company raised its 2026 adjusted EPS outlook to at least $27 from $26.75, above the FactSet consensus of $26.87. Elevance shares were down 8.9%.Price: $1769.64, Change: $-6.00, Percent Change: -0.34%

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Elevance Second-Quarter Membership Declines Overshadow Full-Year Earnings Outlook Raise
US Markets

Elevance Second-Quarter Membership Declines Overshadow Full-Year Earnings Outlook Raise

Elevance Health (ELV) reported sequential and annual declines in its second-quarter memberships, although the health insurer lifted its full-year earnings outlook and recorded an unexpected year-over-year revenue increase in the previous three-month period.Total medical membership came in at 44.9 million for the June quarter, down 1% and 1.5% on sequential and annual bases, driven by a known commercial fee-based customer transition and attrition in the firm's individual Affordable Care Act and Medicaid membership.Elevance's shares dropped 8.8% in Wednesday trade, reducing its year-to-date gain to 10.9%."Rate updates received during the quarter were higher than anticipated, and membership and acuity remained broadly aligned with our expectations," Chief Financial Officer Mark Kaye said during an earnings call, according to a FactSet transcript.Within the commercial risk-based business, individual membership decreased 2.3% from the prior-year quarter, while employer group fell 5.5%."The Medicaid environment continues to be dynamic, and we're managing it with discipline," Chief Executive Gail Boudreaux said on the call. "We're improving our ability to detect cost pressures earlier and respond quickly with targeted action plans across our clinical network, payment integrity and operating teams."The company now expects adjusted earnings of at least $27 a share for 2026, up from its prior guidance of $26.75. The improved guidance is "prudent" and "supported by current operating trends," according to Kaye. The current consensus on FactSet is for non-GAAP EPS of $26.87."We remain confident in our ability to return to at least 12% adjusted EPS growth in 2027," Boudreaux told analysts on the call.The insurer's adjusted EPS slipped about 16% year over year to $7.45 in the second quarter, but topped the Street's view of $6.21. Operating revenue edged up to $49.83 billion from $49.42 billion, defying the average analyst estimate for a decrease to $48.88 billion. Higher premium yields and product revenue drove the top line increase, partially offset by a lower health plan membership in Medicaid, Kaye said on the call.Overall premiums were nearly flat at $41.28 billion. Product revenue advanced by 3.7%, while service fees rose 8.3%. By segment, health benefits revenue increased 2.7% to $42.72 billion while its Carelon division, composed of CarelonRx and Carelon Services, inclined 6% to $192 billion.The benefit-expense ratio rose by 80 basis points year over year to 89.7% for the second quarter. The increase was driven by higher medical cost trends in the company's government business, it said.Price: $388.74, Change: $-38.05, Percent Change: -8.92%

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Sectors

Sector Update: Healthcare Stocks Decline Premarket Wednesday

Healthcare stocks were declining premarket Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.6% and the iShares Biotechnology ETF (IBB) 0.1% lower.Elevance Health (ELV) shares were down more than 8% after the company reported lower Q2 adjusted earnings.Johnson & Johnson (JNJ) stock was down more than 2% even after the company posted higher fiscal Q2 adjusted earnings and reported sales, and raised its fiscal 2026 outlook.Merck (MRK) shares were up more than 2% after the company said its phase 3 trial of its therapy, Keytruda, met the primary endpoint of progression-free survival in patients with mismatch repair-deficient advanced or recurrent endometrial cancer.

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Sectors

Sector Update: Healthcare

Healthcare stocks were declining premarket Wednesday, with the State Street Health Care Select Sector SPDR ETF (XLV) down 0.4% and the iShares Biotechnology ETF (IBB) 0.1% lower.Elevance Health (ELV) shares were down more than 7% after the company reported lower Q2 adjusted earnings.

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Wire

UnitedHealth, CVS, Cigna Seen Benefiting From Utilization Trends, AI Upside, Morgan Stanley Says

UnitedHealth (UNH), CVS Health (CVS) and Cigna (CI) are among the managed-care companies that could benefit from improving utilization trends and potential artificial intelligence-driven efficiency gains across the healthcare system, Morgan Stanley said in a note Thursday.The firm said early signs of softer utilization have supported recent gains in managed-care stocks. The group has delivered a series of medical-loss-ratio beats in Q1 and some companies raising guidance. However, it noted that investors are still awaiting clearer confirmation of underlying trends and utilization signals remaining mixed ahead of Q2 results.AI adoption is increasingly embedded across managed-care operations, including prior authorization, call centers, provider portals, care management, pharmacy utilization and payment integrity.Morgan Stanley said UnitedHealth stands out as a leading "AI enabler," particularly through Optum Insight initiatives, which support both efficiency gains and potential revenue upside.The firm's scenario analysis assumes 0.5% to 2.0% AI-driven insurance margin expansion, which could translate into an illustrative 18% to 71% EPS upside across managed-care companies. It added that administrative workflows, particularly prior authorization, remain key areas of automation potential.Morgan Stanley boosted its price targets on UnitedHealth, CVS Health, Elevance Health (ELV), Centene (CNC), Molina Healthcare (MOH), and Humana (HUM).Price: $399.90, Change: $+22.90, Percent Change: +6.07%

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Sectors

Sector Update: Healthcare Stocks Softer Late Afternoon

Healthcare stocks declined late Friday afternoon, with the NYSE Healthcare Index decreasing 0.8% and the State Street Health Care Select Sector SPDR ETF (XLV) shedding 0.9%.The iShares Biotechnology ETF (IBB) eased 0.1%.In corporate news, AstraZeneca's (AZN) Alexion Rare Disease unit said Friday that a phase 3 program evaluating anselamimab in light chain amyloidosis did not meet its primary endpoint in the overall patient population. Its shares were down 0.2%.The Centers for Medicare & Medicaid Services will not impose intermediate sanctions on Elevance Health (ELV) at this time based on the health insurer's attestation to corrective action steps it has taken, the agency said Friday. CMS notified Elevance in February of its determination to impose intermediate sanctions for "substantial and persistent noncompliance with Medicare Advantage risk adjustment data submission requirements." Elevance shares rose 0.3%.Becton, Dickinson (BDX) said it has resumed US shipments of ChloraPrep after completing additional assessments and implementing final release testing. The shares were down 0.9%.Replimune (REPL) shares surged 84% after the firm said Friday it will resubmit its biologics license application for vusolimogene oderparepvec for advanced melanoma in the coming days.

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Sectors

Sector Update: Healthcare

Healthcare stocks declined late Friday afternoon, with the NYSE Healthcare Index and the State Street Health Care Select Sector SPDR ETF (XLV) each shedding 0.9%.The iShares Biotechnology ETF (IBB) eased 0.1%.In corporate news, the Centers for Medicare & Medicaid Services will not impose intermediate sanctions on Elevance Health (ELV) at this time based on the health insurer's attestation to corrective action steps it has taken, the agency said Friday. CMS notified Elevance in February of its determination to impose intermediate sanctions for "substantial and persistent noncompliance with Medicare Advantage risk adjustment data submission requirements." Elevance shares rose 0.3%.

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Wire

Elevance Health Avoids CMS Sanctions After Attesting to Corrective Steps

The Centers for Medicare & Medicaid Services will not impose intermediate sanctions on Elevance Health (ELV) at this time based on the health insurer's attestation to corrective action steps it has taken, the agency said Friday.CMS notified Elevance in February of its determination to impose intermediate sanctions for "substantial and persistent noncompliance with Medicare Advantage risk adjustment data submission requirements."In its attestation, Elevance said it has completed the initial submission in CMS' established electronic systems, remitted a wire transfer of the total overpayment amount based on all auditable estimates and uploaded spreadsheets showing each Overpayment ID, according to CMS.Elevance didn't immediately reply to a request for comment from.Price: $393.90, Change: $+1.15, Percent Change: +0.29%

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Wire

Elevance Health Avoids CMS Sanctions After Attesting to Corrective Steps

Elevance Health Avoids CMS Sanctions After Attesting to Corrective Steps

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Insider Trading

Elevance Health Insider Sold Shares Worth $617,192, According to a Recent SEC Filing

Ronald W Penczek, Chief Accounting Officer & Controller, on May 19, 2026, sold 1,531 shares in Elevance Health (ELV) for $617,192. Following the Form 4 filing with the SEC, Penczek has control over a total of 4,109 common shares of the company, with 4,109 shares held directly.SEC Filing:https://www.sec.gov/Archives/edgar/data/1156039/000165907526000004/xslF345X05/wk-form4_1779307888.xml

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Research

Deutsche Bank Upgrades Elevance Health to Buy From Hold, Adjusts PT to $498 From $363

Elevance Health (ELV) has an average rating of overweight and mean price target of $392.86, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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Research

Research Alert: CFRA Maintains Hold Rating On Shares Of Elevance Health

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our 12-month price target to $435 from $360, reflecting 16.2x our 2026 EPS estimate, above ELV's three- and five-year historical forward averages of 12.7x and 14.1x, respectively. We lift our 2026 EPS estimate by $0.14 to $26.91 and our 2027 EPS estimate by $0.14 to $29.22. We upgraded our 12-month fundamental outlook for the managed health care sub-industry to neutral from negative, with ELV and peers taking steps to improve profitability via increased medical premiums, strategic portfolio shifts/exits, and heightened focus on cost control within an elevated medical cost landscape. We anticipate that these actions may improve margins and profitability looking ahead to 2027-2028 and think valuations could gradually improve.

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Wire

Elevance Health Shares Rise After BofA Securities Upgrade

Elevance Health (ELV) shares rose 2.5% in Wednesday trading after BofA Securities upgraded the stock to buy from neutral, with a price target of $435.Trading volume stood at about 1.4 million shares, compared with a daily average of over 1.9 million.Price: $371.74, Change: $+9.00, Percent Change: +2.48%

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Research

BofA Securities Upgrades Elevance Health to Buy From Neutral, $435 Price Target

Elevance Health (ELV) has an average rating of overweight and mean price target of $384.05, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)

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