Zacks Research Lifts Earnings Estimates for Elevance Health

Key Points

• Zacks Research raised Elevance Health’s FY2026 EPS forecast to $29.02 from $27.06, though that remains slightly below the $29.18 analyst consensus.
• Elevance reported quarterly EPS of $6.99, beating the $4.71 consensus, while revenue of $50.44 billion also exceeded expectations.
• Analysts maintain a “Moderate Buy” consensus, with an average price target of $456.48; 15 rate the stock Buy and eight rate it Hold.

Elevance Health, Inc. (NYSE:ELV - Free Report) - Zacks Research upped their FY2026 earnings per share (EPS) estimates for Elevance Health in a note issued to investors on Tuesday, November 3rd. Zacks Research analyst Team now expects that the company will post earnings of $29.02 per share for the year, up from their prior forecast of $27.06. The consensus estimate for Elevance Health's current full-year earnings is $29.18 per share. Zacks Research also issued estimates for Elevance Health's Q4 2026 earnings at $2.00 EPS, Q1 2027 earnings at $11.73 EPS, Q3 2027 earnings at $6.01 EPS, Q1 2028 earnings at $12.61 EPS and Q3 2028 earnings at $7.09 EPS.

A number of other brokerages have also recently commented on ELV. Royal Bank Of Canada raised their target price on Elevance Health from $424.00 to $455.00 and gave the company a "sector perform" rating in a report on Thursday, October 22nd. Morgan Stanley boosted their price target on shares of Elevance Health from $404.00 to $449.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 22nd. Wells Fargo & Company increased their price target on shares of Elevance Health from $473.00 to $492.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 27th. Weiss Ratings reissued a "hold (c)" rating on shares of Elevance Health in a research note on Thursday, August 13th. Finally, Guggenheim lifted their price objective on shares of Elevance Health from $460.00 to $485.00 and gave the company a "buy" rating in a report on Thursday, October 22nd. Fifteen equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $456.48.

Elevance Health Price Performance

ELV stock opened at $434.44 on Thursday. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $93.86 billion, a PE ratio of 18.53, a P/E/G ratio of 1.97 and a beta of 0.63. Elevance Health has a 12-month low of $274.84 and a 12-month high of $450.69. The business's fifty day moving average price is $411.80 and its 200 day moving average price is $373.00.

Elevance Health (NYSE:ELV - Get Free Report) last released its quarterly earnings results on Wednesday, October 21st. The company reported $6.99 EPS for the quarter, topping analysts' consensus estimates of $4.71 by $2.28. Elevance Health had a return on equity of 14.97% and a net margin of 2.55%. The company had revenue of $50.44 billion for the quarter, compared to analysts' expectations of $49.28 billion. During the same period in the prior year, the firm earned $6.03 earnings per share. The firm's revenue was up .7% compared to the same quarter last year.

Hedge Funds Weigh In On Elevance Health

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. acquired a new stake in Elevance Health during the 2nd quarter worth approximately $7,344,424,000. State Street Corp grew its stake in shares of Elevance Health by 1.3% in the 2nd quarter. State Street Corp now owns 10,426,610 shares of the company's stock valued at $4,032,283,000 after purchasing an additional 137,914 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Elevance Health by 12.0% in the second quarter. Wellington Management Group LLP now owns 9,213,513 shares of the company's stock valued at $3,563,142,000 after purchasing an additional 984,976 shares during the period. First Eagle Investment Management LLC increased its holdings in shares of Elevance Health by 1.4% in the second quarter. First Eagle Investment Management LLC now owns 4,188,196 shares of the company's stock valued at $1,619,701,000 after purchasing an additional 55,905 shares during the period. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Elevance Health during the second quarter worth approximately $1,246,349,000. 89.24% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Elevance Health

In other Elevance Health news, CFO Mark Kaye sold 10,584 shares of the stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $440.13, for a total value of $4,658,335.92. Following the sale, the chief financial officer owned 19,919 shares of the company's stock, valued at $8,766,949.47. This trade represents a 34.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% of the stock is owned by corporate insiders.

Elevance Health Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 18th. Shareholders of record on Friday, December 4th will be issued a dividend of $1.72 per share. The ex-dividend date is Friday, December 4th. This represents a $6.88 annualized dividend and a yield of 1.6%. Elevance Health's dividend payout ratio is 29.34%.

Key Stories Impacting Elevance Health

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

• Positive Sentiment: Zacks raised its FY2026, FY2027 and FY2028 EPS estimates to $29.02, $29.97 and $33.39, respectively. It also lifted forecasts for Q1 2027, Q2 2027, Q1 2028 and Q2 2028, signaling improved expectations in several periods. MarketBeat Elevance Health
• Positive Sentiment: A market report said Elevance shares rose alongside Cigna as CVS fell following its proposed corporate split, potentially reflecting relative investor preference for Elevance. CVS Tumbles on Plan to Split
• Negative Sentiment: The revisions were not uniformly positive: Zacks cut its EPS estimates for Q4 2026, Q3 2027, Q4 2027 and Q3 2028. These reductions temper the signal from its higher full-year forecasts and suggest uneven quarterly expectations. MarketBeat Elevance Health

Elevance Health Company Profile

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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