Elevance Health (NYSE:ELV) Price Target Raised to $424.00

Key Points

• Sanford C. Bernstein raised its price target on Elevance Health to $424 (from $384) and kept an "outperform" rating, implying roughly a 22.7% upside from the prior close.
• Elevance beat Q1 expectations with $12.58 EPS (vs. $10.74 est.), raised its FY2026 adjusted EPS outlook, and cited medical-cost controls, AI-driven operating discipline and rising investment income as drivers of margin expansion.
• Analyst sentiment is mixed — the consensus price target is $384.65 with 11 Buys, 10 Holds and 1 Sell — and the stock faces a potential legal overhang after an investor investigation was launched into possible securities claims.

Elevance Health (NYSE:ELV - Get Free Report) had its price objective upped by Sanford C. Bernstein from $384.00 to $424.00 in a research report issued to clients and investors on Friday,MarketScreener reports. The firm presently has an "outperform" rating on the stock. Sanford C. Bernstein's price objective would suggest a potential upside of 22.68% from the stock's previous close.

A number of other research analysts have also recently commented on ELV. Wolfe Research set a $425.00 price target on shares of Elevance Health and gave the stock an "outperform" rating in a report on Thursday, January 8th. Wall Street Zen cut shares of Elevance Health from a "buy" rating to a "hold" rating in a report on Sunday, February 8th. Jefferies Financial Group dropped their target price on shares of Elevance Health from $395.00 to $391.00 and set a "buy" rating on the stock in a report on Monday. JPMorgan Chase & Co. increased their price target on shares of Elevance Health from $394.00 to $397.00 and gave the company an "overweight" rating in a research report on Monday, February 2nd. Finally, Guggenheim reissued a "buy" rating and set a $399.00 price target on shares of Elevance Health in a research report on Friday. Eleven equities research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $384.65.

Elevance Health Trading Down 0.2%

ELV stock traded down $0.67 during mid-day trading on Friday, reaching $345.62. 159,449 shares of the stock traded hands, compared to its average volume of 1,858,392. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.54 and a current ratio of 1.48. Elevance Health has a one year low of $273.71 and a one year high of $427.54. The stock has a market capitalization of $75.92 billion, a PE ratio of 14.67, a PEG ratio of 1.83 and a beta of 0.49. The business has a 50-day moving average price of $309.00 and a two-hundred day moving average price of $331.66.

Elevance Health (NYSE:ELV - Get Free Report) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $12.58 earnings per share for the quarter, beating analysts' consensus estimates of $10.74 by $1.84. Elevance Health had a net margin of 2.62% and a return on equity of 15.58%. The business had revenue of $49.49 billion for the quarter, compared to analysts' expectations of $48.21 billion. During the same quarter in the previous year, the business posted $11.97 earnings per share. The business's revenue was up 1.5% compared to the same quarter last year. Elevance Health has set its FY 2026 guidance at 19.850- EPS. Equities research analysts expect that Elevance Health will post 25.5 EPS for the current year.

Hedge Funds Weigh In On Elevance Health

Several institutional investors have recently made changes to their positions in ELV. Sei Investments Co. increased its holdings in shares of Elevance Health by 7.7% during the 2nd quarter. Sei Investments Co. now owns 163,668 shares of the company's stock valued at $63,666,000 after purchasing an additional 11,745 shares in the last quarter. Glenview Trust co grew its stake in Elevance Health by 41.5% in the 2nd quarter. Glenview Trust co now owns 1,619 shares of the company's stock valued at $630,000 after acquiring an additional 475 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in Elevance Health by 6.9% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 65,945 shares of the company's stock valued at $25,650,000 after acquiring an additional 4,272 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Elevance Health by 5.0% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,371 shares of the company's stock valued at $16,478,000 after acquiring an additional 2,012 shares during the period. Finally, Quantinno Capital Management LP grew its stake in Elevance Health by 111.8% in the 2nd quarter. Quantinno Capital Management LP now owns 43,911 shares of the company's stock valued at $17,080,000 after acquiring an additional 23,180 shares during the period. 89.24% of the stock is owned by hedge funds and other institutional investors.

Elevance Health News Roundup

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

• Positive Sentiment: Q1 results and guidance lift sentiment — ELV reported better-than-expected Q1 EPS and raised its 2026 adjusted EPS outlook (targets 12% EPS growth in 2027), signaling stronger profitability and upward earnings momentum. Elevance raises 2026 adjusted EPS outlook
• Positive Sentiment: Management cites medical-cost controls and AI-driven operating discipline as drivers of margin expansion and a higher annual profit forecast — supports sustainable margin improvement. Health insurer Elevance raises annual profit forecast
• Positive Sentiment: Investment income helped EPS — rising net investment income materially boosted Q1 results, offsetting some membership pressure. ELV Beats Q1 on rising net investment income
• Positive Sentiment: Analyst support: Evercore raised its price target to $360, adding buy-side validation for the beat-and-raise story. Evercore raises price target on Elevance
• Positive Sentiment: Shareholder return: Board declared a quarterly dividend (supports income-oriented investors and reduces downside risk).
• Neutral Sentiment: Analyst stance mixed — Robert W. Baird raised its target to $331 but moved to a "neutral" rating, reflecting more cautious near-term expectations despite higher valuation work. Baird updates target and rating
• Neutral Sentiment: Operational caveat: Management noted membership declines; the topline impact is being offset by investment income and cost controls — watch membership trends for sustainability. Valuation and mixed Q1 draw attention
• Negative Sentiment: Legal risk: A law firm (Kirby McInerney LLP) has launched an investor investigation into potential securities-law claims involving Elevance and senior management — introduces regulatory/legal overhang and potential litigation risk. Investor alert: Kirby McInerney investigates Elevance

About Elevance Health

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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