Elevance Health, Inc. (NYSE:ELV) Insider Purchase Amidst Revised Profit Forecast

Gail Boudreaux, President and CEO of Elevance Health, Inc. (NYSE:ELV), purchased 2,334 shares, increasing her total ownership. The company revised its annual profit forecast downward due to high medical costs, leading to a 7% drop in share price during premarket trading. Despite recent challenges, Elevance Health's market capitalization stands at approximately $63.74 billion, highlighting its significant role in the healthcare industry.

Elevance Health, Inc. (NYSE:ELV) is a prominent player in the healthcare industry, providing a range of health insurance products and services. The company operates in a competitive market, with rivals like UnitedHealth Group and Cigna. On July 18, 2025, Gail Boudreaux, the President and CEO, made a significant move by purchasing 2,334 shares of ELV at $286.07 each, increasing her total ownership to 144,854 shares.

Despite this insider purchase, Elevance faces challenges. The company recently revised its annual profit forecast downward due to high medical costs in its government-backed plans, as highlighted by Reuters. This announcement led to a 7% drop in ELV shares during premarket trading, reflecting investor concerns about the company's financial outlook.

The current stock price of ELV is $282.10, marking a decrease of 6.73% or $20.35. The stock has experienced fluctuations, with a low of $276.46 and a high of $293.31 today. Over the past year, ELV's stock has seen a high of $567.26 and a low of $276.41, indicating significant volatility in its market performance.

Elevance's market capitalization is approximately $63.74 billion, with a trading volume of 5,109,657 shares on the NYSE. This substantial market cap underscores the company's importance in the healthcare sector, despite the recent challenges it faces with rising medical costs impacting its profit forecasts.