Latest news with #ElevanceHealth
Yahoo
42 minutes ago
- Business
- Yahoo
Elevance Health (ELV) Drops 18.66% After Dismal Q2 Earnings
We recently published Elevance Health, Inc. (NYSE:ELV) is one of this week's top performers. Elevance Health fell by 18.66 percent week-on-week to close at $277.09 on Friday versus $340.67 a week earlier following dismal earnings performance in the second quarter of the year. In its earnings release, Elevance Health, Inc. (NYSE:ELV) said net income during the period dropped by 24.2 percent to $1.744 billion from $2.301 billion in the same period last year, pushing its six-month net earnings lower by 13.7 percent to $3.928 billion from $4.55 billion year-on-year. Revenues for the second quarter, however, increased by 13.4 percent to $49.776 billion from $43.886 billion year-on-year, while revenues for the first half of the year grew by 14.1 percent to $98.667 billion from $86.463 billion year-on-year. A medical professional working at a computer, utilizing the company's digital solutions to improve care quality for consumers. Looking ahead, Elevance Health, Inc. (NYSE:ELV) also lowered its guidance amid elevated medical cost trends in Obamacare and slower rate alignment in Medicaid. Given the industry-wide impact of elevated cost trends, the company said it now expects 2025 GAAP net income per diluted share to be approximately $24.10 and adjusted net income per diluted share to be approximately $30. While we acknowledge the potential of ELV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Sign in to access your portfolio
Yahoo
42 minutes ago
- Business
- Yahoo
Centene (CNC) Falls 11.1% on Investor Caution Ahead of Q2
We recently published Centene Corporation (NYSE:CNC) is one of this week's top performers. Centene fell by 11.1 percent week-on-week, from $31.44 on July 11 to $27.95 last Friday—a new all-time low, as investors turned cautious ahead of its second quarter earnings results, further dampened by one of its peers' dismal earnings performance. During the week, its fellow insurer Elevance Health, reported a 24.2-percent drop in net income during the second quarter of the year and updated its outlook to reflect elevated medical cost trends under the Affordable Care Act and slower rate alignment in Medicaid, both of which are also being offered by Centene Corporation (NYSE:CNC). Last month, Centene Corporation (NYSE:CNC) withdrew its 2025 earnings forecast due to an expected slump in its revenues from commercial plans under the ACA or Obamacare. The withdrawal triggered a review from credit ratings issuer S&P Global Ratings, saying that it is likely to set the company's status to 'junk.' A doctor holding a clipboard in a hospital ward, discussing patient treatment plan with the nurses. 'With the removal of earnings guidance, we have less immediate clarity and confidence on the company's capital adequacy trajectory, as well as the overall strength of its business and execution capabilities,' S&P said. While we acknowledge the potential of CNC as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
4 hours ago
- Business
- Yahoo
Elevance Health, Inc. (ELV): I Won't Touch It With A 10 Foot Pole, Says Jim Cramer
We recently published . Elevance Health, Inc. (NYSE:ELV) is one of the stocks Jim Cramer recently discussed. Elevance Health, Inc. (NYSE:ELV) is one of the biggest healthcare benefits companies in America. Its shares have dipped by 24% year-to-date, primarily on the back of a 19% dip in July. Elevance Health, Inc. (NYSE:ELV)'s shares fell after the firm cut its profit forecast to $30 per share from an earlier $34.15 to $34.85 per share. Here's what Cramer said about the firm: 'They missed. I think we're finally at the point where people have said, these guys are all going to keep going down so don't worry about it. Don't sell. That stock is down much less than I thought it would be. I'm not, I mean that. Like these ones, have been, when they go down, they don't just go down nine. But this thing has been down for a while. I wouldn't touch these stocks with a ten-foot pole. They're just, this is happening before they even eviscerated Medicaid. I don't think people realize that the thing in that beautiful bill was a huge gift to accelerated depreciation, a huge gift for R&D. And just a house of pain for anything Medicaid.' A medical professional working at a computer, utilizing the company's digital solutions to improve care quality for consumers. GreensKeeper Asset Management mentioned Elevance Health, Inc. (NYSE:ELV) in its Q1 2025 investor letter. Here is what the firm said: 'Rounding out our top 5 performers in Q1 were Elevance Health, Inc. (NYSE:ELV) +17.9% and Intercontinental Exchange (ICE) + 15.8%. As mentioned in the last Scorecard, we believe the sell-off in ELV over the past year has been overdone, and the stock is trading at a significant discount to our estimate of its intrinsic value. The recent rebound reflects a partial correction of that mispricing. ICE continues to perform well as a significant portion of its earnings is driven by transaction volume on its exchanges and increasing demand for financial data, both of which generally increase when panic-induced volatility hits the markets.' While we acknowledge the potential of ELV as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the . READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now. Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
13 hours ago
- Business
- Yahoo
Quest (DGX) Reports Q2: Everything You Need To Know Ahead Of Earnings
Healthcare diagnostics company Quest Diagnostics (NYSE:DGX) will be reporting earnings this Tuesday morning. Here's what investors should know. Quest beat analysts' revenue expectations by 1.3% last quarter, reporting revenues of $2.65 billion, up 12.1% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts' sales volume estimates but full-year EPS guidance in line with analysts' estimates. Is Quest a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Quest's revenue to grow 13.6% year on year to $2.72 billion, improving from the 2.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.57 per share. Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing 7 downward revisions over the last 30 days (we track 12 analysts). Quest has a history of exceeding Wall Street's expectations, beating revenue estimates every single time over the past two years by 1.9% on average. Looking at Quest's peers in the healthcare providers & services segment, only Elevance Health has reported results so far. It beat analysts' revenue estimates by 3%, delivering year-on-year sales growth of 13.4%. The stock was down 19.7% on the results. Read our full analysis of Elevance Health's earnings results here. Debates over possible tariffs and corporate tax adjustments have raised questions about economic stability in 2025. While some of the healthcare providers & services stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 2.3% on average over the last month. Quest is down 7.1% during the same time and is heading into earnings with an average analyst price target of $184.04 (compared to the current share price of $166.91). Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we've identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Sign in to access your portfolio


Business Insider
3 days ago
- Business
- Business Insider
Elevance Health CEO Boudreaux buys $2.44M of shares
Elevance Health (ELV) CEO Gail Boudreaux disclosed the purchase of 8,500 shares at an average price of $286.94 for total value of $2.44M. Boudreaux now owns 151,020 shares of Elevance. Shares of Elevance bounced off their lows but remain down 6% to $283.52 in afternoon trading. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.