Elevance Health Inc

ELV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$824.00	Pfryz	Yrmkktz

Elevance Earnings: Maintains 2024 Outlook Despite Medicaid-Related Challenges

Julie Utterback

Jul 17, 2024

Narrow-moat Elevance delivered higher second-quarter results than expected and maintained its 2024 guidance, despite continued Medicaid membership losses and higher expected medical utilization in that population going forward. To reflect cash flows since our last valuation update, we are raising our fair value estimate 6% to $550 per share from $520. Recent trades appear close to fair value.

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