Elevance stock is down almost 5% today. With earnings only days away it looks like it may be a huge miss. Good thing Gail cashed out $70 million in stock options a few weeks ago.
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About three weeks before Elevance Health stock plunged this past Thursday, the insurer’s chief financial officer canceled his trading plan to sell stock. Interesting timing for canceling this stock sell. Executive Vice President and President for Anthem, Inc.’s Government Business Division sold stock this year in the for10 mil. CEO sold 34,000 shares (of 160,709 initial shares) for $17,033,394. That's 21.2% of her total shares! Interesting facts!!!’
The reason you’re waiting so long for non emergent care is directly because of insurance companies. Used to be that our best and brightest and most dedicated went into health care in part because it was respectable and a good living, worth the 6-8 years after college. Then insurance companies started ratcheting down the reimbursement rates. ELV is one of the worst offenders of this. Fewer bright college kids went into medicine. The docs told them look elsewhere for your successful career. A recent college grad with a degree in computer science will make more in AI at Google that his PCP will after 10 years in practice. Sad for us as future patients.
Cigna tanked also. Time to reevaluate working for the health insurance industry. I know I am not the only one that sees how bad healthcare is now. Shortage of Doctors, nurses, waiting 6 months for a radiology procedure, 6 months for a Neurologist appointment. I feel for my children, there won't be anyone to take care of them when they are older.
ELT could be a good buy, it's either heading back to fair market value, or it's a buy at a discount price. It's gonna bounce.
Who are they going to blame for today’s embarrassment? Down almost 60 at this point. You did away with all the happy, productive remote employees. Maybe it’s time to look at the “leadership”.
A 21% stock drop today. MLR rose to 89.5%. Last Q3 MLR is 86.8%. This is consistent with UHC whose MLR rose to 85.2% comparing to last Q3's 82.3%. Medicaid redetermination is a huge factor.
Would this cash out raise concerns for insider trading at all?
Can you provide that source? Everything I see says I only cashed 17 million
O.P. you were spot on, thank you for sharing accurate information!
we tanked after UHG earnings were released.
ours are tomorrow, we'll see what happens after that.
UHC down they lost over 2 billion due to the recent breach
Medicare Stars ratings were just announced last week as well and typically stocks either soar or plummet (temporarily) in response to the news. Unfortunately the company did worse year over year on Stars ratings which means significant drop in revenue for the Enterprise and headwinds as the next bid seasons starts.
No....not accurate. UHG was down a ton today as well and they BEAT their estimates. Rising health care cost...payments from the government around Medicare and Medicaid continue to be issues for all insurers.
I bet when Thursdays report comes out for Elevance it will show the same things.. they beat their estimates, made a huge profit but wall street will still be concerned about costs.