Relevance health exec sells $1.39 million in stock

Kendrick Charles Morgan Jr., the Executive Vice President and President of Commercial at Elevance Health, Inc. (NYSE:ELV), a $90 billion market cap healthcare provider with a solid financial health rating according to InvestingPro, recently sold shares in the company. According to a recent SEC filing, Morgan sold 3,504 shares on March 5, 2025, at a price of $396.30 per share, totaling approximately $1.39 million. This sale occurred just days after several other transactions.

On March 3, Morgan had a series of transactions, including the acquisition of 2,845 restricted share units and 3,686 performance-based restricted share units, both at no cost. Additionally, he acquired 10,828 employee stock options, exercisable in three annual installments starting March 2026. These acquisitions were part of his compensation package and did not involve any cash outlay. The company trades at a P/E ratio of 15.4, with management actively pursuing share buybacks.

Despite these transactions, Morgan’s overall shareholding saw a decrease due to the sale. Following the recent activities, Morgan holds 10,116 shares directly. For deeper insights into Elevance Health’s valuation and extensive financial metrics, including exclusive ProTips and comprehensive research reports, visit InvestingPro.

In other recent news, Elevance Health reported fourth-quarter results for fiscal year 2024, showing adjusted earnings per share (EPS) of $3.84 and revenues aligning with forecasts at $45.0 billion. Analysts at Bernstein responded positively, raising the stock’s price target to $511 while maintaining an Outperform rating, citing a stable outlook and growth potential. Meanwhile, JPMorgan revised its price target for Elevance Health to $479, maintaining an Overweight rating but noting a slightly softer outlook for the company’s Health Benefits business. The firm highlighted potential improvements in Medicaid margins due to state rate updates, despite a higher projected Medical (TASE:BLWV) Loss Ratio (MLR) of 89.2%.

Cantor Fitzgerald analyst Sarah James reaffirmed an Overweight rating on Elevance Health with a price target of $485, emphasizing the company’s significant revenue from Medicaid expansion lives. However, there are concerns about trigger laws in certain states that could affect Medicaid funding and Elevance’s financial stability. Additionally, the healthcare sector experienced a downturn following a Department of Justice investigation into UnitedHealth Group (NYSE:UNH)’s Medicare billing practices, raising concerns about broader industry implications. President Trump’s recent supportive comments about social programs provided a positive boost to healthcare stocks, including Elevance Health, as investors showed confidence in the sector’s outlook.

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