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Elevance Health Inc ELV Stock Quote

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Morningstar‘s Stock Analysis ELV

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Elevance Raises 2022 Outlook Again After Momentum Continues in Q2; Shares Fairly Valued

Julie Utterback, CFA Senior Equity Analyst

Analyst Note

| Julie Utterback, CFA |

Elevance Health (formerly called Anthem) delivered a strong second quarter and raised its 2022 outlook mildly for the second time in as many quarters, although shares traded down about 6% on an uptick in medical utilization that constrained margins in the employer segment, which was in contrast to trends noted on July 15 by UnitedHealth. We are maintaining our $452 per-share fair value estimate and view Elevance shares as fairly valued. Our narrow moat rating appears intact, too, and is primarily based on its local scale leadership that helps it offer lower premiums than most health insurers. Elevance continues to lead the U.S. medical membership landscape with 47.1 million members at the end of June, higher than even UnitedHealth's 45.8 million U.S. members, despite the latter's broader national network.

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Key Statistics ELV

Company Profile ELV

Business Description

Elevance Health (formerly known as Anthem) remains one of the leading health insurers in the U.S., providing medical benefits to roughly 45 million medical members. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states through government-sponsored programs such as Medicaid, too.

220 Virginia Avenue
Indianapolis, IN, 46204
T +1 800 331-1476
Industry Healthcare Plans
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Stock Type Aggressive Growth
Employees 98,200

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