Elevance Health Inc (ELV)

Elevance Health Inc Stock (ELV) dropped by 4.78% from $434.92 to $414.13 in the trading on Wednesday July 12, 2023. The reason why ELV stock down today is due to the stock downgrade by the analyst. Wolfe Research has downgraded Elevance Health to peer perform from outperform amid cost pressures in the commercial market. The firm also withdrew its prior price target of $495. Analyst Justin Lake noted that the stock's current valuation reflects the uncertainty regarding cost trends.

Elevance Health's shares dropped 6.89% from $468.63 to $436.33 following an announcement from UnitedHealth Group regarding rising costs attributed to increased surgeries among older adults.

https://www.reuters.com/business/healthcare-pharmaceuticals/unitedhealth-falls-warning-higher-medical-costs-2023-06-14/

Elevance Health Inc Stock (ELV) dropped by 5.33% from $483.08 to $457.33 in the trading on Wednesday April 19, 2023. The reason why ELV stock down today is due to the investor concerns over several aspects.

• Elevance Health Inc's forecast raise and strong quarterly profit failed to ease investor concerns over regulatory hits to the company's government-backed insurance business, sending ELV shares down today.
• Elevance Health is facing challenges as interest rates rise. The firm disclosed that its net unrealized loss in its investment portfolio rose to $1.8 billion.

Elevance Health's shares fell 7.62% from 497.43 to 459.54 following a second-quarter earnings report that showed an 8.4% decrease in net income, which declined from $1.80 billion to $1.65 billion compared to the previous year.

https://www.nasdaq.com/articles/elevance-health-down-7-on-lower-q2-profit