Elevance Health Inc.

(New York Stock Exchange)
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Bullish +75

Elevance Health (ELV) Is Up 2.73% in One Week: What You Should Know

Earnings report AI-generated analysis

πŸ“ˆ Elevance Health (ELV) holds a Zacks Momentum Style Score of B and a Zacks Rank of #2 (Buy), indicating strong potential for outperformance.

πŸš€ Shares are up 2.73% in the past week, significantly beating the Zacks Medical Services industry gain of 1.19%.

πŸ“Š Over the last month, ELV gained 10.57%, vastly outperforming the industry average of 0.73%.

πŸ“ˆ The stock has increased 7.82% over the past quarter and 31.08% in the last year, exceeding S&P 500 returns.

πŸ’Ή Trading volume is healthy with a 20-day average of 1,349,678 shares, supporting the rising price trend.

πŸ“ Analyst estimates are trending positive with five full-year revisions raised and none lowered in the last two months.

πŸ”­ The consensus earnings estimate increased from $27.19 to $28.12 over the past 60 days due to upward revisions.

πŸ‘€ For the next fiscal year, five estimates have moved upwards while only one has been lowered recently.

Bullish Signals
  • Elevance Health holds a Zacks Momentum Style Score of B and a Zacks Rank of #2 (Buy), historically associated with outperformance over one-month periods.
  • Shares are up 2.73% in the past week, significantly outpacing the Zacks Medical Services industry gain of 1.19%.
  • The stock achieved a monthly price change of 10.57%, vastly exceeding the industry average of 0.73%.
  • ELV shares have gained 31.08% in the last year, substantially outperforming the S&P 500's 13.12% gain.
  • The company is trading on a healthy 20-day average volume of 1,349,678 shares, indicating strong buyer interest.
  • Analyst consensus estimates for the full year have risen from $27.19 to $28.12 over the past 60 days due to five upward revisions and zero downward ones.
  • Forward-looking guidance is supported by a trend where five next-fiscal-year estimates moved upwards against only one downward revision.
Full Analysis
Elevance Health (ELV) is highlighted as a strong momentum pick, currently holding a Zacks Momentum Style Score of B and a Zacks Rank of #2 (Buy). The article notes that stocks with these specific ratings have historically outperformed the market over subsequent one-month periods, suggesting ELV is poised for continued gains based on its established price trajectory. The stock has demonstrated significant outperformance relative to both its industry peers and the broader S&P 500. Over the past week, shares rose 2.73% compared to a 1.19% gain in the Zacks Medical Services industry. On a longer timeframe, ELV's monthly price change of 10.57% vastly exceeded the industry average of 0.73%, while quarterly and yearly gains of 7.82% and 31.08% respectively outpaced the S&P 500. Analyst sentiment remains robust, evidenced by consistent upward revisions to earnings estimates. Over the past two months, five full-year estimates were raised with none lowered, boosting the consensus estimate from $27.19 to $28.12 in 60 days. Additionally, five next-fiscal-year estimates have moved upwards against only one downward revision, reinforcing the bullish outlook for the insurer.