Elevance Health, Inc. (ELV) Stock Price & Analysis
Elevance Health, Inc. (ELV) closed at USD 445.28 on Thursday, October 22, 2026, up 2.57% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 445.28; the Oct 22, 2026 session ranged USD 431.67–449.95 on volume of 1,428,121 shares. Market capitalization is —, with a 52-week range of USD 274.84–450.69 (NYQ). Source: Nexqual, retrieved October 23, 2026 at 09:21 UTC.
Also available as compact Markdown for AI agents: nexqual.com/ELV.md
Key facts (ELV)
- Last four reported quarters (through Sep 30, 2026): revenue $202B, net income $5.14B (2.5% margin), free cash flow $6.51B (SEC filings).
- Valuation: P/E 18.8x (avg 15.7x at the last 3 fiscal year-ends), EV/EBITDA 13.2x, net cash $4.94B.
- 12 of 80 tracked superinvestors hold ELV (13F, Q2 2026): 1 new, 5 added, 4 reduced, 2 unchanged.
- Insider open-market sales, last ~7 months: 3 Form 4 filings, $827K; 3 not under a Rule 10b5-1 plan ($827K); 2 by opportunistic insiders (2 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Insider open-market purchases, last ~7 months: 2 Form 4 filings, $1.4M; 0 by opportunistic insiders, 0 by routine insiders.
- Analysts: Buy (mean 2.27 on a 1–5 scale) (22 analysts), mean target USD 479.62 (range 406–523).
- Total return with dividends: 1Y +31.1% vs S&P 500 +14.9%; 5Y +10.6% vs S&P 500 +80.3%.
- Next earnings: 2026-10-21, EPS estimate USD 2.11, revenue estimate $48.8B.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (ELV)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $139B | $157B | $171B | $177B | $199B | $202B |
| Gross profit | $128B | $144B | $154B | $157B | $178B | — |
| Operating income | $7.56B | $8.28B | $8.50B | $7.86B | $7.20B | $5.43B |
| Net income | $6.16B | $5.89B | $5.99B | $5.98B | $5.66B | $5.14B |
| EPS (diluted) | $24.95 | $24.28 | $25.22 | $25.68 | $25.21 | — |
| Free cash flow | $7.28B | $7.25B | $6.76B | $4.55B | $3.17B | $6.51B |
| Gross margin | 92.1% | 91.7% | 89.9% | 88.8% | 89.4% | — |
| Operating margin | 5.5% | 5.3% | 5.0% | 4.4% | 3.6% | 2.7% |
| Net margin | 4.4% | 3.8% | 3.5% | 3.4% | 2.8% | 2.5% |
| Revenue growth | +13.8% | +13.0% | +9.4% | +3.3% | +12.5% | — |
| Cash + short-term investments | $31.1B | $33.3B | $36.1B | $33.5B | $35.4B | — |
| Total debt | $22.8B | $23.8B | $24.9B | $30.9B | $31.9B | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Sep 30, 2026) (ELV)
P/E 18.8x · P/S 0.5x · EV/EBITDA 13.2x · EV/Sales 0.5x · P/FCF 14.8x · P/B 2.2x · FCF yield 6.75% · Earnings yield 5.32% · Dividend yield (paid, TTM) 1.55% · Buyback yield (TTM) 2.24% · Net cash $4.94B · EV $91.6B
P/E at fiscal year-ends: Dec 2025 13.9x, Dec 2024 14.4x, Dec 2023 18.7x.
Superinvestors (SEC 13F-HR, Q2 2026) (ELV)
12 of 80 tracked investors hold ELV. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| Seth Klarman | Baupost Group | 9.11% | $493M | Unchanged |
| Glenn Greenberg | Brave Warrior Advisors | 8.23% | $378M | Reduced -13.0% |
| Ruane Cunniff | Ruane Cunniff LP | 5.89% | $379M | Reduced -29.4% |
| Harry Burn | Sound Shore | 2.90% | $94.2M | New position |
| First Eagle Investment | First Eagle Investment Management | 2.70% | $1.62B | Added +1.4% |
| Bill Nygren | Oakmark Funds | 2.53% | $1.90B | Added +2.7% |
| Van Den Berg Management I | 2.25% | $10.6M | Reduced -2.1% | |
| Vulcan Value Partners | 1.83% | $60.3M | Reduced -47.5% | |
| Yacktman Asset Management | 1.63% | $131M | Added +1.7% | |
| Richard Pzena | Pzena Investment Management | 0.25% | $86.8M | Added +2.0% |
| Tweedy Browne | 0.19% | $2.5M | Added +33.8% | |
| Dodge & Cox Funds | Dodge & Cox | <0.01% | $503K | Unchanged |
Insider sales (SEC Form 4, open-market, last ~7 months) (ELV)
0 of 3 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-06-12 | Penczek Ronald W | CAO & Controller | 369 | $149K | 9% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
| 2026-06-11 | Dixon Robert L Jr | Director | 151 | $61K | 1.4% | No | Too little history (no open-market trades in 2025) |
| 2026-05-19 | Penczek Ronald W | CAO & Controller | 1,531 | $617K | 27.1% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.
Insider purchases (SEC Form 4, open-market, last ~7 months) (ELV)
2 purchases, $1.4M. Private placements, offerings, dividend reinvestment and employee stock purchase plan buys are excluded.
| Trade date | Insider | Role | Shares | Value | Avg price | Insider type |
|---|---|---|---|---|---|---|
| 2026-07-17 | Peru Ramiro G | Director | 1,000 | $366K | 366.05 | Too little history (no open-market trades in 2023 or 2025) |
| 2026-07-17 | Boudreaux Gail | President and CEO | 2,725 | $1.0M | 367.79 | Too little history (no open-market trades in 2023) |
Analysts (ELV)
Consensus Buy (mean 2.27 on a 1–5 scale), 22 analysts; mean target USD 479.62 (low 406, high 523).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-22 | UBS | Target raised | Buy | $460 → $523 |
| 2026-10-22 | Guggenheim | Target raised | Buy | $460 → $485 |
| 2026-10-22 | Morgan Stanley | Target raised | Equal-Weight | $404 → $449 |
| 2026-10-22 | RBC Capital | Target raised | Sector Perform | $424 → $455 |
| 2026-10-22 | Barclays | Target raised | Overweight | $469 → $472 |
| 2026-10-22 | Baird | Target raised | Neutral | $393 → $406 |
| 2026-10-12 | Guggenheim | Target raised | Buy | $455 → $460 |
| 2026-10-07 | Barclays | Target raised | Overweight | $457 → $469 |
| 2026-07-17 | Bernstein | Target raised | Outperform | $482 → $488 |
| 2026-07-17 | Leerink Partners | Target raised | Market Perform | $364 → $395 |
| 2026-07-16 | RBC Capital | Target lowered | Sector Perform | $439 → $424 |
| 2026-07-16 | Wells Fargo | Target lowered | Overweight | $492 → $473 |
Total return (dividends reinvested) (ELV)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | +31.1% | +10.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +31.3% | +2.0% |
| Volatility (annualized) | 35.6% | 27.6% |
| Max drawdown | -26.5% (Jan 2026→Mar 2026) | -49.9% (Aug 2024→Jul 2025) |
ELV revenue by product line (quarter ended Sep 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Product revenue | $6.45B | 12.5% | +4.8% |
| Service fees | $2.28B | 4.4% | +6.8% |
| Total revenue | $51.43B | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
ELV suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | CVS Health (CVS) | “If CVS fails to provide pharmacy benefit manager services as contractually required, we may not be able to meet the full demands of our customers, which could have an adverse effect on our business, reputation and results of operations.” |
| Partner | Augusta Topco Holdings | “Our Carelon Advanced Primary Care business includes palliative care services and management of our partnership with Augusta Topco Holdings L.P. ("Mosaic Health"), a joint venture with Clayton, Dubilier & Rice ("CD&R").” |
| Partner | Project Freedom Holdings | “Other invested assets include non-controlled joint ventures, including our minority interest ownership of approximately 40% of Augusta Topco Holdings, L.P. ("Mosaic Health") and our 40% minority interest ownership of Project Freedom Holdings, LLC, which is the ultimate parent of LIBERTY Dental Plan Corporation ("Liberty Dental").” |
| Partner | LIBERTY Dental Plan | “Other invested assets include non-controlled joint ventures, including our minority interest ownership of approximately 40% of Augusta Topco Holdings, L.P. ("Mosaic Health") and our 40% minority interest ownership of Project Freedom Holdings, LLC, which is the ultimate parent of LIBERTY Dental Plan Corporation ("Liberty Dental").” |
Quoted from the company's 10-K filed Feb 6, 2026.
Companies that name ELV in their SEC reports
| Relationship to ELV | Company | Filing | Sentence |
|---|---|---|---|
| partner | SERA PROGNOSTICS, INC. (SERA) | 10-K Mar 18, 2026 | “Collaboration with Elevance Health.” |
| partner | American Well Corp (AMWL) | 10-K Feb 12, 2026 | “In 2012, we entered into a joint venture with an affiliate of Elevance Health, Inc. (formerly Anthem, Inc.) to form National Telehealth Network, LLC ("NTN").” |
ELV company outlook (results filed Oct 21, 2026)
- “Adjustment item represents the midpoint of a projected range and serves as the estimated full year adjustment amount. 14 Forward-Looking Statements This document contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995.”
Quoted word-for-word from the SEC 8-K results press release.
ELV analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Dec 2026) | $2.11 | $2.47 | -14.7% | $48.82B | 20 |
| Next quarter (ends Mar 2027) | $12.26 | $12.03 | +1.9% | $50.06B | 13 |
| Current fiscal year (ends Dec 2026) | $28.79 | $27.16 | +6.0% | $198.62B | 22 |
| Next fiscal year (ends Dec 2027) | $30.15 | $29.63 | +1.7% | $203.20B | 20 |
ELV options: expected move
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 29.1% | ±6.6% |
| Dec 18, 2026 | 56 | 28.3% | ±9.0% |
| Jan 15, 2027 | 84 | 29.1% | ±11.3% |
| Mar 19, 2027 | 147 | 32.1% | ±16.3% |
| Jun 17, 2027 | 237 | 33.1% | ±21.2% |
| Sep 17, 2027 | 329 | 33.3% | ±25.0% |
30-day implied volatility 29.5% vs 21.3% realized over the last 30 trading days. Put/call ratio (volume) 1.38. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 09:21 UTC)
| Price | USD 445.28 |
|---|---|
| Change | ▲ 2.57% (up) |
| Previous Close | USD 445.28 |
| Open | USD 445.28 |
| Day Range | USD 431.67 – 449.95 |
| 52-Week Range | USD 274.84 – 450.69 |
| Volume | 1,428,121 shares |
| Market Cap | — |
| Exchange | NYQ |
Technical Analysis (ELV)
Nexqual's technical model rates ELV "BUY" based on 5 bullish and 2 bearish signals across 127 daily candles, as of October 23, 2026 at 09:21 UTC.
| Overall Signal | BUY |
|---|---|
| RSI (14) | 70.74 (overbought) |
| vs SMA50 | Above (USD 407.21) |
| MACD | 10 (positive) |
Analyst Ratings (ELV)
Wall Street analysts rate ELV "Buy" based on 22 analysts, with a mean price target of USD 479.62 (range USD 406–523), per Nexqual as of October 23, 2026 at 09:21 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 22 |
| Mean Target | USD 479.62 |
| High Target | USD 523 |
| Low Target | USD 406 |
| Buy / Hold / Sell | 14 / 8 / 0 |
Earnings (ELV)
| Next Earnings Date | 2026-10-21 |
|---|---|
| EPS Estimate | USD 2.11 |
| Revenue Estimate | $48.82B |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-09-30 | USD 6.99 vs est 4.69 ▲ beat |
| 2026-06-30 | USD 7.45 vs est 6.21 ▲ beat |
| 2026-03-31 | USD 12.58 vs est 10.81 ▲ beat |
| 2025-12-31 | USD 3.33 vs est 3.09 ▲ beat |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Financials & Fundamentals (ELV)
| Total Revenue | $201.11B |
|---|---|
| Revenue Growth (latest quarter, YoY) | +1.40% |
| Gross Margin | +25.99% |
| Operating Margin | +4.56% |
| Profit Margin | +2.47% |
| ROE | +11.13% |
| Debt / Equity | 0.69 |
| Current Ratio | 1.52 |
| Total Cash | $37.51B |
| Total Debt | $31.04B |
| Free Cash Flow (last four quarters to Sep 2026, SEC 10-Q / 10-K) | $6.51B (3.2% of revenue) |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Financial Health Score (ELV)
Nexqual rates Elevance Health, Inc.'s overall financial health "Mixed" across five dimensions, as of October 23, 2026 at 09:21 UTC.
| Growth | Solid — Revenue +13% YoY (annual) |
|---|---|
| Profitability | Mixed — Gross margin 26%, operating 5% (last 12 months) |
| Balance Sheet | Solid — $35.7B cash and investments vs $30.8B debt (Sep 2026, SEC), net cash |
| Cash Flow | Mixed — FCF $6.51B (last 4 quarters to Sep 2026, SEC), slim 3.2% margin |
| Efficiency | Mixed — ROE 11%, ROA 3.8% |
Ownership (ELV)
| Insider Ownership | +0.19% |
|---|---|
| Institutional Ownership | +94.10% |
| Shares Outstanding | 216.87M |
| Float | 216.37M |
| Short % of Float | +2.51% |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
Leadership (ELV)
Elevance Health, Inc. is led by Gail Koziara Boudreaux, President, CEO & Director, per Nexqual as of October 23, 2026 at 09:21 UTC.
| President, CEO & Director | Gail Koziara Boudreaux |
|---|---|
| Executive VP & CFO | Mark Bradley Kaye |
| EVP and President of Commercial & Specialty Health Benefits | Charles Morgan Kendrick |
| Vice President of Investor Relations | Nathan Allen Rich |
| Senior Vice President of Public Affairs | Julie Goon |
Major Backers & Investors (ELV)
Notable institutional backers of Elevance Health, Inc. include Wellington Management, Sanders Capital, LLC, Harris Associates L.P., according to Nexqual as of October 23, 2026 at 09:21 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Wellington Management | 4.25% |
| Sanders Capital, LLC | 2.69% |
| Harris Associates L.P. | 2.27% |
| Artisan Partners Limited Partnership | 2.11% |
| Invesco | 1.95% |
| First Eagle Funds-First Eagle Global Fund | 1.31% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| Vanguard Group | 9.35% |
| BlackRock | 8.76% |
| State Street | 4.81% |
| Geode Capital | 2.38% |
Source: Nexqual, October 23, 2026 at 09:21 UTC.
From Elevance Health, Inc.'s Latest SEC 10-K Filing (filed 2026-02-06)
Key Strengths & Strategy (as disclosed to the SEC)
- With an unyielding commitment to meeting the needs of our diverse customers, we are guided by the following values: We are one of the largest health insurers in the United States in terms of medical membership, serving approximately 45.2 million medical members through our affiliated health plans as of December 31, 2025.
- We employ our proprietary accumulated actuarial and financial data to determine underwriting and pricing parameters for both our risk-based and fee-based businesses.
- Our combination of local market focus and national scale enables us to collaborate with physicians and hospitals on programs that reward clinical quality, excellence and cost-effective practices.
- Our approach to cost management relies on capabilities including provider enablement, value-based networks, member engagement, and utilization management.
Partnerships
- Our Carelon Advanced Primary Care business includes palliative care services and management of our partnership with Augusta Topco Holdings L.P. ("Mosaic Health"), a joint venture with Clayton, Dubilier & Rice ("CD&R"). •Carelon Insights: Carelon Insights aims to improve the health of the healthcare system by simplifying workflows and providing real-time insights.
Legal & Regulatory Risks (Item 1A, quoted)
- We are a party to license agreements with the BCBSA that entitle us to the exclusive and, in certain areas, non-exclusive use of the BCBS names and marks in our geographic territories. The termination of these license agreements or changes in the terms and conditions of these license agreements could adversely affect our business, cash flows, financial condition and results of operations.
- Our license agreements with the BCBSA contain certain requirements and restrictions regarding our operations and our use of the BCBS names and marks, and failure to comply with those requirements could result in a termination of the license agreements.
- Our articles of incorporation and bylaws contain provisions that could have anti-takeover effects and may delay, defer or prevent a takeover attempt that our shareholders might consider to be in their best interests.
- The health benefits industry is subject to negative publicity and sentiment, which could adversely affect our business, cash flows, financial condition and results of operations.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
Peers & Related Stocks
| Symbol | Name | Price | Change |
|---|---|---|---|
| CI | The Cigna Group | USD 315.88 | ▲ 3.78% |
| CVS | CVS Health Corporation | USD 94.48 | ▲ 1.1% |
| HUM | Humana Inc. | USD 420.97 | ▼ 1.05% |
| CNC | Centene Corporation | USD 71.24 | ▲ 1.42% |
| UNH | UnitedHealth Group Incorporated | USD 424.98 | ▲ 1.91% |
| MOH | Molina Healthcare Inc | USD 216.64 | ▲ 0.81% |
Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 09:21 UTC. This page is informational and not investment advice.
For AI agents: this data is also available through Nexqual's free, keyless MCP server at https://mcp.nexqual.com/mcp; every result includes source_url, as_of and cite_as. More: nexqual.com/agents · llms.txt