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Elevance Health, Inc. (NYSE:ELV), a prominent $84.8 billion healthcare provider currently trading near its 52-week low at $374.29, conducted its Annual Meeting of Shareholders on Wednesday, with multiple key decisions put to vote, including the election of directors, executive compensation, and the ratification of the company’s independent auditor. According to InvestingPro analysis, the company appears undervalued based on its Fair Value assessment.
The shareholders elected three director nominees to serve three-year terms expiring in 2028. Susan D. DeVore received 185,839,586 votes for, 3,726,860 against, and 158,903 abstentions. Bahija Jallal garnered 180,810,837 votes for, 8,752,093 against, and 162,419 abstentions. Ryan M. Schneider had 184,627,201 votes for, 4,951,857 against, and 146,291 abstentions. All three nominees experienced broker non-votes totaling 11,942,703. The strong shareholder support comes as the company maintains a solid financial health score of "GOOD" from InvestingPro.
In an advisory capacity, shareholders approved the compensation of the company’s named executive officers, with 173,964,580 votes for, 15,522,459 against, 238,310 abstentions, and the same number of broker non-votes as the director elections.
The appointment of Ernst & Young LLP as the independent registered public accounting firm for 2025 was ratified with a significant majority, receiving 178,086,607 votes for, 23,455,317 against, and 126,128 abstentions.
A shareholder proposal requesting a report on the effectiveness of Diversity, Equity, and Inclusion efforts was not approved. It saw 26,240,205 votes for, 160,685,853 against, 2,799,291 abstentions, and again, 11,942,703 broker non-votes.
The results reflect shareholder confidence in the current board and executive compensation plan, approval of the company’s accounting firm, and disapproval of a proposed DEI effectiveness report.
This article is based on information provided in a press release statement from Elevance Health, Inc.
In other recent news, Elevance Health has reported robust financial results for the first quarter of 2025, surpassing Wall Street’s expectations with an adjusted earnings per share (EPS) of $11.97, compared to a forecast of $11.08. The company’s revenue reached $48.8 billion, exceeding the anticipated $46.27 billion. Elevance’s Carelon division experienced significant growth, with revenues surging to $16.7 billion, marking a 37.9% increase year-over-year. The medical loss ratio for the company was reported at 86.4%, approximately 60 basis points below the consensus, indicating effective cost management. Bernstein analysts have maintained their Outperform rating and $585 price target for Elevance Health, reflecting confidence in the company’s stable performance and growth prospects. Cantor Fitzgerald also reaffirmed its positive stance on Elevance Health, maintaining an Overweight rating and a price target of $485. Additionally, SelectQuote has been named in a False Claims Act complaint filed by the United States, which alleges illegal kickbacks were paid by insurers to brokers, including SelectQuote, from 2016 through at least 2021. This legal action has led to a significant drop in SelectQuote’s stock price, reflecting investor concern over the financial repercussions and potential penalties.
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