Elevance Health (NYSE:ELV) Price Target Raised to $393.00

Key Points

• Robert W. Baird raised its price target on Elevance Health from $331 to $393, while keeping a neutral rating. The new target implies only modest upside from the stock’s current level.
• Other analysts remain broadly constructive on the company, with multiple firms lifting targets and the consensus rating standing at Moderate Buy. MarketBeat says the average price target is $439.57.
• Elevance Health recently beat quarterly earnings and revenue estimates, reporting $7.45 EPS on $49.83 billion in revenue, and it also raised full-year profit guidance. Despite that, the stock was noted as down 8.7% in the article amid mixed sentiment around margins and Medicaid exposure.

Elevance Health (NYSE:ELV - Get Free Report) had its price objective lifted by investment analysts at Robert W. Baird from $331.00 to $393.00 in a report released on Thursday,Benzinga reports. The firm presently has a "neutral" rating on the stock. Robert W. Baird's price objective points to a potential upside of 0.81% from the company's current price.

Several other equities research analysts have also commented on the company. UBS Group upped their price objective on Elevance Health from $400.00 to $460.00 and gave the stock a "buy" rating in a research note on Friday, May 22nd. Weiss Ratings upgraded Elevance Health from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, May 18th. Raymond James Financial set a $450.00 price target on Elevance Health in a research report on Tuesday, July 7th. JPMorgan Chase & Co. raised their price objective on Elevance Health from $411.00 to $476.00 and gave the stock an "overweight" rating in a research note on Monday, June 8th. Finally, Leerink Partners set a $364.00 price objective on Elevance Health in a research report on Thursday, April 23rd. Fifteen investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $439.57.

Elevance Health Stock Down 8.7%

ELV stock opened at $389.85 on Thursday. The stock has a market capitalization of $84.66 billion, a P/E ratio of 16.58, a P/E/G ratio of 2.42 and a beta of 0.67. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.48 and a quick ratio of 1.48. Elevance Health has a 1-year low of $273.71 and a 1-year high of $436.24. The business has a fifty day moving average price of $399.67 and a 200-day moving average price of $355.07.

Elevance Health (NYSE:ELV - Get Free Report) last issued its earnings results on Wednesday, July 15th. The company reported $7.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.21 by $1.24. The company had revenue of $49.83 billion for the quarter, compared to analysts' expectations of $48.88 billion. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The firm's quarterly revenue was up .8% on a year-over-year basis. During the same quarter last year, the company posted $8.84 earnings per share. Equities analysts forecast that Elevance Health will post 26.86 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Elevance Health news, Director Robert L. Dixon, Jr. sold 151 shares of the business's stock in a transaction that occurred on Thursday, June 11th. The stock was sold at an average price of $401.77, for a total transaction of $60,667.27. Following the sale, the director directly owned 10,734 shares of the company's stock, valued at $4,312,599.18. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.34% of the company's stock.

Hedge Funds Weigh In On Elevance Health

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in Elevance Health by 25.2% during the 4th quarter. Wellington Management Group LLP now owns 8,289,976 shares of the company's stock valued at $2,906,051,000 after buying an additional 1,668,679 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Elevance Health by 27.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 7,446,185 shares of the company's stock worth $2,610,261,000 after buying an additional 1,607,274 shares during the period. Artisan Partners Limited Partnership boosted its stake in Elevance Health by 10.0% during the fourth quarter. Artisan Partners Limited Partnership now owns 5,032,751 shares of the company's stock worth $1,764,231,000 after buying an additional 455,946 shares during the period. First Eagle Investment Management LLC increased its position in Elevance Health by 0.6% during the fourth quarter. First Eagle Investment Management LLC now owns 4,022,874 shares of the company's stock valued at $1,410,219,000 after acquiring an additional 24,271 shares during the last quarter. Finally, Invesco Ltd. increased its position in Elevance Health by 50.3% during the fourth quarter. Invesco Ltd. now owns 3,903,878 shares of the company's stock valued at $1,368,505,000 after acquiring an additional 1,306,390 shares during the last quarter. Hedge funds and other institutional investors own 89.24% of the company's stock.

More Elevance Health News

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

• Positive Sentiment: Elevance Health beat Q2 expectations on both earnings and revenue, with EPS of $7.45 versus estimates around $6.18-$6.21 and revenue of $49.83 billion topping forecasts. Elevance Health Reports Second Quarter 2026 Results; Raises Full-Year Guidance
• Positive Sentiment: The company raised its 2026 adjusted EPS guidance to at least $27.00, signaling management is more confident in profit trends and medical cost control for the rest of the year. Elevance raises annual profit forecast on better medical cost management
• Positive Sentiment: Analyst sentiment remained supportive, with Truist lifting its price target to $475 and reiterating a buy rating after the earnings update. Elevance Health NYSE: ELV Price Target Raised to $475.00 at Truist Financial
• Neutral Sentiment: Recent earnings-call coverage highlighted growth opportunities in CarelonRx and operating improvements, but also noted that the company is navigating strain from higher costs and softer membership trends. Elevance Health earnings call: growth levers amid strain
• Negative Sentiment: Despite the earnings beat, some reports said the shares slipped on margin pressure and the company is leaving more Medicaid markets, which could weigh on investor sentiment around future growth. Elevance Health (ELV) Beats Q2 And Raises Outlook While Leaving More Medicaid Markets

Elevance Health Company Profile

Elevance Health, Inc NYSE: ELV is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company's strategic focus on integrated health care and benefit delivery.

Elevance's core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.

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