Elevance Health Inc

ELV: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$791.00	Wftsnhg	Wgpwlbgr

Elevance Earnings: Mix Shift Boosts Bottom Line and 2024 Outlook Slightly

Julie Utterback

Apr 18, 2024

Narrow-moat Elevance delivered slightly higher first-quarter results than expected and mildly increased its 2024 guidance, despite continued medical membership losses from Medicaid eligibility redeterminations. Our near- and long-term forecasts have not changed materially, and we do not anticipate changing our $520 fair value estimate. Recent trades appear close to fair value.

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