The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Elevance Health Inc shares valued at $3,205,182 were sold by Kendrick Charles Morgan JR on Oct 18 ’24. At $432.14 per share, Kendrick Charles Morgan JR sold 7,417 shares. The insider’s holdings dropped to 8,423 shares worth approximately $3.31 million following the completion of this transaction.
Also, Kendrick Charles Morgan JR purchased 7,417 shares, netting a total of over 3,206,221 in proceeds.
Before that, PERU RAMIRO G had sold 753 shares from its account. In a trade valued at $400,235, the Director traded Elevance Health Inc shares for $531.52 each. Upon closing the transaction, the insider’s holdings decreased to 753 shares, worth approximately $3.44 million.
As published in a research note from Stephens on January 22, 2025, Elevance Health Inc [ELV] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $440 from $520. Analysts at Argus downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid October. As of July 18, 2024, BofA Securities has decreased its “Buy” rating to a “Neutral” for ELV. Earlier on June 24, 2024, Morgan Stanley initiated its rating. Their recommendation was “an Overweight” for ELV stock.
Analyzing ELV Stock Performance
During the last five days, there has been a surge of approximately 0.61%. Over the course of the year, Elevance Health Inc shares have jumped approximately 6.50%. Shares of the company reached a 52-week high of $415.49 on 01/27/25 and a 52-week low of $364.61 on 01/02/25. A 50-day SMA is recorded $386.26, while a 200-day SMA reached $470.27. Nevertheless, trading volume fell to 1.3 million shares from 2.21 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 386.70, which, if violated, would cause prices to drop to 380.54. In the upper region, resistance lies at 399.23. The next price resistance is at 405.60. RSI (Relative Strength Index) is 50.89 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.55, which suggests the price will increase in the coming days. Percent R is at 40.90%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
