Anthem Stock Price

Anthem, Inc. is one of the largest health benefits companies in the United States. Through its affiliated companies, Anthem serves more than 106 million people, including over 42 million within its family of health plans. It’s an insurer that provides a range of medical, pharmacy, dental, and disability products and services. These are designed to enhance the health and well-being of individuals and communities. One of the key challenges facing Anthem and other insurers is going through the complex infrastructure of healthcare regulation and reform in the U.S. The company actively works to adapt to changes in legislation and market conditions, aiming to offer affordable and high-quality insurance products. Over the last few years, the company witnessed remarkable growth, and its stock price made massive growth. As a result, there’s a rising demand to invest in Anthem stock price in anticipation of a long-term profit. Anthem has also been involved in philanthropy and community support, providing funding and resources for various causes, including disaster relief, food insecurity, and mental health support. Its Anthem Foundation is a significant conduit for these efforts, which emphasize measurable and sustainable impact on community health. Nevertheless, a series of lawsuits and disputes, alongside the transformation in infrastructure coinciding with the company’s rebranding to Elevance Health, has led to a shift in investor sentiment. In this article, we’ll explore Anthem stock price after its rebranding to ELV stock and its future price prediction with technical analysis from Anthem share price prediction. 

Anthem Inc: A Quick Introduction 

Elevance Health Inc., based in the United States, offers health insurance coverage. The organization, known as Anthem, Inc. until June 2022, provides a variety of health plans, including medical, pharmacy, dental, behavioral health, long-term care, and disability insurance. Its network of affiliated companies encompasses Anthem Blue Cross and Blue Shield, Empire BlueCross BlueShield in New York, Anthem Blue Cross in California, Wellpoint, and Carelon. 

It stands as the largest profit-oriented managed healthcare enterprise within the Blue Cross Blue Shield Association. By 2022, Elevance Health reported membership figures reaching 46.8 million across the health plans of its affiliate entities.

Elevance Health was listed as the 20th largest company on the 2022 Fortune 500 list, reflecting its revenue in the previous year. Financially, Anthem is known for its stability and performance. The company has consistently reported strong earnings and revenue growth, reflecting both an increase in membership and a strategic focus on operational efficiency and cost management.

Anthem’s approach to healthcare is holistic, aiming to drive transformative improvements across the healthcare system for individuals and providers. This includes investments in data analytics, personalized health care, and supporting community health initiatives. The company has been leading in tackling public health challenges, such as the opioid epidemic, and has actively participated in public policy discussions to shape the future of healthcare.

Anthem’s commitment to corporate responsibility and sustainability is evident through its ESG (Environmental, Social, Governance) efforts, focusing on topics such as ethical governance, resource conservation, and social responsibility. The company has also received recognition for its corporate citizenship efforts. 

Anthem To Elevance: History And Controversies 

Anthem, founded in 1946 as Mutual Hospital and Mutual Medical Insurance in Indianapolis, grew to dominate Indiana’s insurance market. By 1972, it operated as Blue Cross and Blue Shield of Indiana. It merged into The Associated Group in 1985 but was popularly known as Anthem. The company expanded through various acquisitions, including American General and Shelby Insurance in the late ’80s and early ’90s, and sold its investment banking arm in 1994. After becoming Anthem Insurance Company in 1996, it continued to grow, acquiring several state Blue Cross Blue Shield plans and underwent demutualization in 2001. By 2002, Anthem had over 11 million members.

WellPoint’s history began with Blue Cross of California, created in 1982 by two regional Blue Cross organizations. It became a separate publicly traded entity in 1993 and transitioned to for-profit status in 1996. WellPoint grew through acquisitions and offered to purchase CareFirst in 2001. The merger with Anthem in 2004 created a leading health benefits company using the Anthem brand, and the company later rebranded to Elevance Health in 2022.

Lawsuits And Controversies 

WellPoint pledged $30 million in 2007 to aid the uninsured but was later reported to have contributed only $6.2 million by 2009, despite claims of fulfilling their commitment. Their practices came under fire during a 2007 investigation by the California Department of Managed Health Care (DMHC), which revealed illegal cancellations of health policies for those diagnosed with serious illnesses. In 2008, Anthem Blue Cross settled by paying $10 million and reinstating coverage for affected policyholders without admitting fault.

A 2010 expose by Reuters accused WellPoint of using computer algorithms to target women with breast cancer for policy cancellations, prompting outrage and calls for change from the highest levels of government, including President Obama. In a separate incident, Anthem faced criticism for canceling policies for members paying with credit cards without prior notice. Amidst the healthcare reform debates of 2009, Anthem was accused of coercing employees to oppose the legislation, attracting an investigation by the California attorney general.

The insurer’s attempt to raise premiums in Maine led to a legal battle, with the state’s Supreme Court ruling against Anthem’s request for rate increases. Further controversy arose when WellPoint announced steep premium hikes in California, which were postponed after public uproar and scrutiny from lawmakers and regulators. WellPoint’s attempt to reclassify administrative costs as medical care in 2010 was seen as an effort to meet the requirements of the Patient Protection and Affordable Care Act.

The company also dealt with a massive data breach in 2010, compromising millions of customers’ personal information and leading to a $115 million settlement. Their “Avoidable ER Program” was controversial as it potentially discouraged emergency room visits by not reimbursing costs for non-urgent diagnoses, despite medical associations’ reports suggesting that many such visits are indeed emergencies. 

Anthem was fined for not responding to consumer complaints on time and faced a lawsuit for sending direct payments to patients instead of healthcare providers, pressuring facilities to accept lower reimbursement rates. In 2020, the Department of Justice sued Anthem for allegedly submitting inaccurate diagnostic data to receive higher Medicare payments. The implications of these controversies are profound, influencing policyholders’ trust and the broader healthcare system’s integrity.

Anthem Stock: Price History 

Anthem, Inc., known for its affiliation with Blue Cross Blue Shield, has experienced various fluctuations in its stock price since its initial public offering (IPO) in 2001. At the time of its IPO, the company’s stock was priced at $25 per share, showing investor confidence in the newly public entity. Over the next few years, Anthem’s stock price saw an upward trend due to the company’s aggressive growth strategy, including the acquisition of several regional insurers.

By the end of 2004, following the announcement of its merger with WellPoint Health Networks, the stock surged, reflecting the market’s bullishness about the consolidation’s scale and potential for improved efficiency. The share price continued to rise steadily, reaching around $60 by December of 2004, triggered by profitable financial reports and expansion of services.

However, during the 2008 financial crisis, Anthem’s stock, like many others, was significantly affected, with prices falling to nearly half as the entire market struggled with economic uncertainty. The stock price declined to a low of $36 by the end of 2008. The stock price recovered in the subsequent years, benefiting from the market recovery and specific company strategies such as cost management and expansion into new markets. 

Anthem’s stock reached new heights in 2015, trading above $160, as the company addressed the changing healthcare landscape post-Affordable Care Act implementation. The stock’s growth was temporarily affected by failed merger talks with Cigna, which would have been a substantial consolidation in the healthcare insurance industry.

By November 2016, Anthem’s stock price reached a low of $120. However, since then, the stock price has gone on a robust recovery. It continued to surge and touched the $300 mark in 2019. However, with a dip to $190 in 2020 due to the COVID-19 pandemic, the stock price managed to hold buyers’ confidence. 

By 2021, Anthem’s stock had reached new peaks, trading at over $350 per share, driven by the company’s announcement of strategic initiatives like the launch of its digital health platform and partnerships for prescription management. After reaching a high above $500 at 2022’s end, the stock price consolidated in 2023. 

ANTM/ELV Stock Price: Technical Analysis 

Recently, the ELV share price experienced minor bullish sentiment, which has triggered buyers near the immediate resistance levels. The price has been on a steady consolidated trajectory over the last few weeks due to an intense war between bulls and bears. After dropping below the $500-mark, ELV’s price sparked a consolidated momentum and plunged slightly to the $420 level. As the market was previously heavily influenced by declining interest in the company and several lawsuits, ELV stock price failed to touch a bullish region. The price has been facing buying demand recently, and it was forced to break above multiple Fib levels. A thorough technical analysis of ELV share price reveals mixed indicators, which may soon send the price either to new lows or highs. 

According to TradingView, the ELV/ANTM share price is currently trading at $458, reflecting an increase of 1.15% in the last 24 hours. Our technical evaluation of ELV stock price indicates that the current bullish momentum may soon intensify as bulls are attempting to reverse the trend near the upcoming support level; however, bears are trying to prevent the price from surging above the resistance level of $483. Examining the daily price chart, ELV stock price has found resistance near the $483 level, which the price is attempting to break above. As the ELV price continues to trade between the EMA trend lines, buyers are gaining confidence to open further long positions and send the price to test its upcoming resistance. The Balance of Power (BoP) indicator is currently trading in a positive region zone at 0.47 as buyers are increasing their domination on the price chart.

To thoroughly analyze the price of an ELV share value, it is crucial to take a look at the RSI-14 indicator. The RSI indicator recently experienced a surge as the stock price failed to hold sellers’ demand near $440. The trend line is currently hovering above the midline as it trades at level 59, hinting that further upward correction is on the horizon. It is anticipated that the ELV share price will soon attempt to break above its 23.6% Fibonacci level to achieve its short-term bullish goals of around $483. If bears fail to plunge below the current 38.2% Fibonacci region, a further upward trend might be on the horizon. 

As the SMA-14 continues its upward swing by trading at 54, it trades slightly below the RSI line, potentially holding hopes about the stock’s upward movement on the chart. If the stock price makes a bullish reversal, it can pave the way to resistance at $483. A breakout above will drive the share’s price toward the upper limit of the Bollinger band at $551.

Conversely, if the stock fails to hold above the critical support region of $414, a sudden collapse may occur, resulting in further price declines and causing the share price to trade near the Bollinger Band’s lower limit of $392. If the price fails to continue a trade above, it may trigger a more significant bearish downtrend to $358.

Elevance Share Price Prediction By Blockchain Reporter 

Elevance Share Price Prediction 2023

In 2023, Elevance’s share price is expected to average around $414. The stock is predicted to have a minimum value of $358 and a maximum value that could reach up to $503. These figures take into account the company’s performance, market trends, and the economic environment affecting the healthcare sector.

Elevance Share Price Prediction 2024

For 2024, Elevance’s average share price is forecasted to increase to approximately $466, with a minimum price of $410 and a peak price potentially hitting $555. The expected growth is predicated on the company’s continued expansion and adaptation to healthcare industry challenges.

Elevance Share Price Prediction 2025

The year 2025 could see Elevance’s share price rising further, maintaining an average of $518. The stock’s price range is projected to span from a low of $462 to a high of $607, reflecting investor confidence in the company’s strategic direction and its operational efficiencies.

Elevance Share Price Prediction 2026

Continuing the upward trend, Elevance’s stock is predicted to average around $570 in 2026, with its value ranging between a minimum of $514 and a maximum of $659. This progression may be supported by the company’s forays into new markets and innovations in personalized healthcare services.

Elevance Share Price Prediction 2027

By 2027, analysts anticipate that Elevance’s average share price could climb to about $622, with the potential minimum and maximum values reaching $566 and $711, respectively. The expected increase might be a result of the company’s effective management and possibly favorable regulatory developments in the healthcare industry.

Elevance Share Price Prediction 2028

Elevance’s share price is projected to sustain its growth trajectory into 2028, averaging at about $674, with a minimum estimate of $618 and a maximum forecast of $763. 

Elevance Share Price Prediction 2029

Moving into 2029, Elevance’s share price is anticipated to continue to soar, with an average expected at $726, a minimum forecasted at $670, and a maximum of $815. The ongoing investment in health technology and potential market expansion could be key drivers for this increase.

Elevance Share Price Prediction 2030

For 2030, Elevance is projected to end the decade strongly, with an average share price estimated at $778, ranging between a low of $722 and a high of $867. The prediction considers long-term growth potential, demographic trends increasing demand for healthcare, and the company’s innovation in the health insurance industry.

Elevance Stock Price Target: By Experts 

Analysts have studied Elevance Health Inc.’s financial prospects and provided their forecasts for the next 12 months. Their consensus points to a median price target for the company’s stock at $561.00. Predictions range, with the most optimistic analyst setting a high target of $629.00, while the most cautious one suggests it may go as low as $500.00. Based on these predictions, the median price target suggests that there could be a substantial increase of 22.30% from Elevance Health Inc.’s current trading price of $458.72.

A consensus from 12 Wall Street analysts suggests that within a span of the last three months, the projected 12-month average price for Elevance Health’s stock stands at $575.33. Their forecasts peak at $629.00 and bottom at $550.00. This average anticipated price reflects a potential upside of 25.55% from the company’s recent trading price of $458.25.

Elevance Health: Q3 Financial Reports  

Elevance Health, Inc. announced positive Q3 2023 results, with President and CEO Gail K. Boudreaux highlighting the company’s strong, diversified business portfolio and focus on affordability and customer service. Amidst a complex operating environment, proactive measures were taken to enhance agility and efficiency. The company expects GAAP net income to exceed $26.40 per share and adjusted net income to surpass $33.00 per share for 2023.

Key financial metrics include a third-quarter GAAP net income of $5.45 per share after adjustments, a minor growth in medical membership due to mixed market dynamics, and a 7.2% increase in operating revenue year-over-year to $42.5 billion. The benefit expense ratio improved, and days in claims payable slightly increased. Operating expenses rose due to optimization charges. Cash flow decreased compared to the previous year, and the company continued its share repurchase and dividend programs. Investment portfolio losses widened, but cash reserves remained strong. Segment-wise, the Health Benefits and Carelon segments reported operating gains, while the Corporate & Other segments saw a loss due to optimization charges.

Conclusion 

Elevance Health, Inc.’s third-quarter report for 2023 reflects a company that’s adept at balancing growth with the current economic challenges. The company’s leadership under CEO Gail K. Boudreaux is focused on maintaining a diversified portfolio that emphasizes customer service and innovation, particularly in a healthcare market that values affordability. 

Despite a slight increase in membership and revenue, operational costs have also risen, and the company has faced membership attrition due to policy changes and market competition. Elevance’s strategic business adjustments aim to enhance efficiency and agility in operations. 

The company’s active share repurchases and consistent dividend payout strategies demonstrate confidence in its financial stability and commitment to returning value to shareholders. Overall, Elevance Health appears to be on a positive trajectory, with its diversified businesses and strategic initiatives positioning it to meet long-term goals.