Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Elevance Health Inc shares valued at $400,235 were sold by PERU RAMIRO G on Aug 05 ’24. At $531.52 per share, PERU RAMIRO G sold 753 shares. The insider’s holdings dropped to 8,744 shares worth approximately $3.89 million following the completion of this transaction.
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Also, RAMIRO G PERU purchased 753 shares, netting a total of over 400,235 in proceeds.
Before that, BOUDREAUX GAIL had sold 34,000 shares from its account. In a trade valued at $17,033,395, the President and CEO traded Elevance Health Inc shares for $500.98 each. Upon closing the transaction, the insider’s holdings decreased to 34,000 shares, worth approximately $56.3 million.
As published in a research note from BofA Securities on July 18, 2024, Elevance Health Inc [ELV] has been rated down from a Buy to a Neutral and the price target has been revised to $530 from $646. Analysts at Morgan Stanley started covering the stock with ‘”an Overweight”‘ outlook in a report released in late June. As of May 30, 2024, Robert W. Baird has initiated its “an Outperform” rating for ELV. Earlier on March 06, 2024, Barclays initiated its rating. Their recommendation was “an Overweight” for ELV stock.
Analyzing ELV Stock Performance
During the last five days, there has been a drop of approximately -9.72%. Over the course of the year, Elevance Health Inc shares have dropped approximately -5.77%. Shares of the company reached a 52-week high of $567.26 on 09/03/24 and a 52-week low of $397.98 on 10/17/24. A 50-day SMA is recorded $528.12, while a 200-day SMA reached $518.80. Nevertheless, trading volume fell to 8.28 million shares from 1.83 million shares the previous day.
Support And Resistance Levels for Elevance Health Inc (ELV)
According to the 24-hour chart, there is a support level at 412.47, which, if violated, would cause prices to drop to 380.60. In the upper region, resistance lies at 461.73. The next price resistance is at 479.12. RSI (Relative Strength Index) is 25.27 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -19.94, which suggests the price will decrease in the coming days. Percent R is at 63.40%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
