Robert W. Baird Forecasts Strong Price Appreciation for Elevance Health (NYSE:ELV) Stock

Key Points

• Robert W. Baird raised Elevance Health’s price target to $406 from $393 but kept a neutral rating, implying roughly 6.7% downside from the prior close. Overall analyst sentiment remains moderately bullish, with a $442.48 consensus target and 15 Buy ratings versus eight Holds.
• Elevance reported quarterly EPS of $6.99, beating estimates of $4.71, while revenue reached $50.44 billion. Improved medical-cost management and growth at Carelon supported results, and the company raised its 2026 adjusted EPS outlook.
• Despite the strong quarter, investors face ongoing risks including declining medical membership, pressured Medicaid margins and a 25.7% drop in nine-month operating gain. Institutional investors own approximately 89.2% of the company’s stock.

Elevance Health (NYSE:ELV - Get Free Report) had its price objective increased by analysts at Robert W. Baird from $393.00 to $406.00 in a report issued on Thursday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Robert W. Baird's target price would suggest a potential downside of 6.72% from the company's previous close.

Several other equities analysts have also recently weighed in on ELV. Royal Bank Of Canada decreased their price target on shares of Elevance Health from $439.00 to $424.00 and set a "sector perform" rating for the company in a research note on Thursday, July 16th. Wall Street Zen lowered shares of Elevance Health from a "buy" rating to a "hold" rating in a research report on Sunday, July 12th. TD Cowen increased their target price on shares of Elevance Health from $400.00 to $465.00 and gave the stock a "buy" rating in a report on Tuesday, July 14th. Guggenheim raised their target price on shares of Elevance Health from $455.00 to $460.00 and gave the company a "buy" rating in a research report on Monday, October 12th. Finally, Barclays raised their target price on shares of Elevance Health from $457.00 to $469.00 and gave the company an "overweight" rating in a research report on Wednesday, October 7th. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, Elevance Health has an average rating of "Moderate Buy" and a consensus target price of $442.48.

Elevance Health Stock Down 1.1%

ELV stock opened at $435.26 on Thursday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.52 and a quick ratio of 1.52. The stock has a market capitalization of $94.39 billion, a P/E ratio of 19.34, a P/E/G ratio of 2.29 and a beta of 0.70. Elevance Health has a fifty-two week low of $274.84 and a fifty-two week high of $450.69. The business has a 50-day moving average of $406.59 and a 200-day moving average of $389.52.

Elevance Health (NYSE:ELV - Get Free Report) last announced its earnings results on Wednesday, October 21st. The company reported $6.99 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.71 by $2.28. The business had revenue of $50.44 billion for the quarter, compared to analyst estimates of $49.28 billion. Elevance Health had a return on equity of 14.64% and a net margin of 2.47%. Elevance Health's revenue for the quarter was up .7% compared to the same quarter last year. During the same quarter last year, the firm earned $6.03 EPS. On average, sell-side analysts anticipate that Elevance Health will post 27.20 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Elevance Health

A number of institutional investors and hedge funds have recently made changes to their positions in ELV. BlackRock Inc. acquired a new position in Elevance Health during the second quarter worth $7,344,424,000. Bank of New York Mellon Corp bought a new position in shares of Elevance Health in the 2nd quarter valued at about $1,246,349,000. Legal & General Group Plc acquired a new position in shares of Elevance Health during the 2nd quarter worth about $688,469,000. Amundi increased its stake in shares of Elevance Health by 145.7% during the 1st quarter. Amundi now owns 2,693,664 shares of the company's stock worth $788,570,000 after purchasing an additional 1,597,497 shares during the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of Elevance Health in the 2nd quarter valued at about $591,084,000. Institutional investors own 89.24% of the company's stock.

Key Elevance Health News

Here are the key news stories impacting Elevance Health this week:

• Positive Sentiment: Elevance raised its 2026 adjusted EPS outlook, with company commentary indicating a new baseline of at least $26.75 and other coverage citing guidance of at least $29. The company also expects at least 12% adjusted EPS growth in 2027 from the higher earnings base. Elevance Health Reports Third Quarter 2026 Results; Raises Full-Year Guidance
• Positive Sentiment: Improved medical-cost management and disciplined spending helped drive the earnings beat. Carelon was a key growth contributor, while its cancer program reduced avoidable inpatient admissions by 15%, supporting the company’s diversification and longer-term margin potential. Elevance lifts 2026 profit forecast on better medical cost management
• Positive Sentiment: The quarterly dividend remains $1.72 per share, or $6.88 annualized, providing a roughly 1.6% yield and signaling continued shareholder returns. Elevance Health dividend information
• Neutral Sentiment: Jeff Park will become president of Carelon on December 1, bringing new leadership to a strategically important business expected to support future growth. Elevance Health Names Jeff Park President of Carelon
• Negative Sentiment: Investors remain concerned about the durability of the recovery. Nine-month operating gain declined 25.7%, and Health Benefits margins—particularly in Medicaid—remain pressured. Medical membership also fell, meaning the improved quarter may not fully resolve underlying profitability concerns. Elevance Health: Better Results, But Not Enough To Buy

About Elevance Health

Elevance Health, Inc NYSE: ELV is a diversified health benefits company that provides health insurance and related services in the United States. Its offerings serve employers, individuals and families, as well as members of government-sponsored programs, including Medicare and Medicaid. The company provides medical, pharmacy, behavioral health and other benefits through a range of health plans and specialty products.

Elevance Health operates its health benefits businesses through a portfolio that includes Blue Cross and Blue Shield-affiliated plans and other insurance offerings.

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