1 Undervalued Healthcare Stock That's Worth a Second Look
Health insurance corporations are so profitable these days that even with net income consistently in the billions, investors may remain unimpressed. Such appears to be the case with Elevance Health (NYSE: ELV), the health insurer that rebranded itself from Anthem last year, which reported a GAAP net income of $24.81 per share in 2022, a total of almost $6.03 billion -- dropping by 1.3% from 2021.
The company's net income appeared to have stalled out last year after a two-year uptrend perhaps driven by the initial phases of the COVID-19 pandemic. In the two years leading up to 2020, net income had swung back and forth but appeared basically flat over time, so perhaps 2022 marked a return to the historical norm.
It could also be that investors were unimpressed that while Elevance added 2.2 million medical enrollees last year compared to 2021, up 5% to a total of 47.5 million members, profits didn't rise to match.
Source Fool.com
