ALTSTATION.IO

Elevance Health, Inc. (ELV) Stock Analysis

By Nova Skye | AltStation.io | Updated February 07, 2026

Price

$330.50

Change

-0.53%

Market Cap

$74.42B

Avg Volume

1.6M

Company Overview

Elevance Health, Inc. (ELV) is a health benefits company based in Indianapolis, Indiana. The company provides a wide array of health plans and services targeting individual customers, employer groups, and government programs like Medicare and Medicaid. Their offerings include managed care services, specialty insurance products like dental and vision, and comprehensive pharmacy services including home delivery and specialty pharmacies.

Elevance is positioned as a market leader in the healthcare plans sector, competing primarily with UnitedHealth Group, Anthem, and Cigna. Their competitive edge lies in their broad service portfolio and an extensive network of healthcare providers. However, they face risks from regulatory changes, rising healthcare costs, and increasing competition from new market entrants focused on innovation in health technology and service delivery.

Currently, Elevance Health is in a growth phase, driven by strategic investments in digital health and care management services. The company’s name change from Anthem, Inc. to Elevance Health in June 2022 reflects its broader focus on holistic health solutions beyond traditional insurance. Recently, they’ve expanded their Carelon brand, enhancing their capabilities in virtual care services and behavioral health, which positions them well for future growth in a rapidly evolving healthcare landscape.

Key Financials

Market Cap

$74.42B

Revenue

$199.12B

EBITDA

$9.88B

Gross Margin

25.6%

Profit Margin

2.8%

Revenue Growth

9.5%

Total Cash

$36.12B

Total Debt

$32.05B

Free Cash Flow

$3.55B

52-Week Price Performance Analysis

Price Statistics

P/E Ratio

13.10

Forward P/E

11.16

Beta

0.50

52-Week High

$458.75

52-Week Low

$273.71

EPS

$25.22

50-Day Avg

$350.76

200-Day Avg

$345.31

Price/Book

1.67

Technical Analysis

Over the 52-week period, Elevance Health, Inc. (ELV) has exhibited a generally bearish trend, declining approximately 12.8% from its peak near $450 in early February to the current price of $330.50. The key resistance level is around $338.98, established in late January and February, while the primary support level appears to be at approximately $300, where the stock found buying interest in recent months. A pronounced decline was observed from around July through September, forming a bearish channel, before the stock displayed some recovery attempts in late October and November. Recently, the momentum has remained weak, with the price staying below both the 50-day and 200-day moving averages, indicating a lack of upward momentum. Currently, at $330.50, the price is situated near the lower end of the 52-week range, implying potential bearish sentiment as it struggles to regain a foothold above critical resistance levels.

Recent News and Developments

Here are the latest news and developments for Elevance Health, Inc

(ELV) stock in the past week:

1. Elevance Health Reports Mixed Q4 2025 Results and Cautious 2026 Outlook

Elevance Health announced its fourth-quarter and full-year 2025 results, reporting adjusted earnings per share (EPS) of $3.33, which surpassed the analyst consensus of $3.10. However, the company’s revenue for the quarter came in at $49.31 billion, slightly missing analysts’ expectations of $49.52 billion. Looking ahead, Elevance Health set its full-year 2026 adjusted EPS guidance at “at least $25.50,” which is below the market’s consensus of approximately $26.80, primarily due to anticipated elevated medical costs and a projected low single-digit decline in operating revenue.

2. RBC Capital Markets Downgrades Elevance Health Amid Softer 2026 Outlook

RBC Capital Markets downgraded Elevance Health to “Sector Perform” from “Outperform” on February 3, 2026. The downgrade was attributed to a softer-than-expected 2026 outlook, including lowered margin targets (5.0%-6.0% from a prior 6.5%-7.0%), increased Medicaid pressures, shifts in the CarelonRx business mix, and an anticipated 18% decline in Medicare Advantage membership. Consequently, RBC Capital Markets also reduced its price target for ELV to $358 from $392 and lowered its 2026 EPS forecast by about 9%.

Market Sentiment and Analyst Recommendations

Bull Case

ELV trades at 13.1x earnings with a 9.5% revenue growth rate, which is cheap for a $74 billion healthcare giant with $36 billion in cash and a fortress balance sheet. The analyst consensus sits at $387.85, implying 17.3% upside from current levels, and 20 analysts rate this a buy despite the recent downgrade noise. Management is making a deliberate shift toward government plans and stable margins rather than chasing headline growth, which suggests they’re optimizing for profitability over volume. The dividend increase to $1.72 per share and $471 million in share repurchases show confidence in intrinsic value and a commitment to shareholder returns. Elevance controls roughly 15% of the U.S. health insurance market with diversified revenue streams across commercial, Medicare, and Medicaid — that moat is real and defensible. The 2026 EPS guidance of at least $25.50 may disappoint versus the $26.80 consensus, but it’s still solid absolute earnings power from a company trading below its historical multiples.

Bear Case

The stock is down 12.8% from its February peak and sits near the lower end of its 52-week range, a warning sign that the market doesn’t believe the bull thesis yet. RBC’s downgrade to Sector Perform and cut of the price target from $392 to $358 reflects real operational headwinds: Medicaid pressure is intensifying, Medicare Advantage membership is expected to drop 18%, and operating revenue is projected to decline in 2026. Management explicitly guided for a low single-digit revenue decline next year, which contradicts the 9.5% growth narrative and signals a portfolio rebalancing that looks defensive, not opportunistic. The company missed Q4 revenue expectations at $49.31 billion versus $49.52 billion guidance, and the margin compression story (5.0%-6.0% versus prior 6.5%-7.0%) erodes the earnings quality argument. Medical costs remain elevated and unpredictable in the government segment, creating margin volatility that makes 2026 guidance less reliable. The stock is trading below both its 50-day and 200-day moving averages with weak momentum, suggesting institutional investors are rotating out ahead of tougher operating conditions.

What to Watch

Monitor the 2026 Medicare Advantage enrollment numbers when they’re reported in the coming weeks — an 18% decline would be material and could trigger further downgrades if it accelerates beyond expectations. Track quarterly medical loss ratios in the Medicaid segment closely, as elevated costs are the primary culprit dragging margins; any stabilization or improvement would validate management’s pivot strategy. Watch for the $300 support level to hold or break; a close below $300 would signal capitulation and likely trigger more analyst downgrades, while a sustained move above $338.98 resistance would confirm a reversal. The CarelonRx business mix shift mentioned by RBC needs monitoring — if this segment underperforms or forces unexpected repricing, it could accelerate the margin compression narrative. Listen for any commentary on the competitive environment and pricing power during the next earnings call in April/May; healthcare payers are under intense pressure to keep premiums competitive, which limits their ability to pass costs to customers. Finally, track the dividend sustainability and buyback pace as a proxy for management confidence; if they slow or suspend capital returns, it’s a red flag that cash generation is deteriorating faster than guided.

Analyst Consensus

BUY

Based on 20 analyst opinions

Low Target

$332.00

Mean Target

$387.85

High Target

$474.00

Earnings and Financial Data

Sector

Healthcare

Industry

Healthcare Plans

Employees

N/A

Earnings & Dividends

Next Earnings

Apr 21, 2026

EPS (Trailing)

$25.22

Dividend Yield

207.0%

Payout Ratio

27.1%

Frequently Asked Questions

Is ELV a good stock to buy?

Elevance Health, Inc. (ELV) is currently rated a “BUY” by analysts, with a target price of $387.85. With a P/E of 13.10 and a solid forward P/E of 11.16, the stock appears reasonably valued in the healthcare sector. The recommendation suggests potential upside.

What is ELV’s price target?

Analysts set a target price of $387.85 for Elevance Health, indicating a potential upside of about 17.3% from its current price of $330.50. This target reflects confidence in the company’s growth and stability.

Does ELV pay a dividend?

Yes, Elevance Health offers a substantial dividend yield of 207.0%. This high yield makes it an attractive option for income-oriented investors.

What has been ELV’s stock price movement over the last year?

ELV has fluctuated between $273.71 and $458.75 over the past 52 weeks. This volatility shows both its growth potential and the risks involved in the healthcare plans industry.

What is Elevance Health’s market capitalization?

Elevance Health has a market cap of $74.42 billion. This sizeable valuation underscores its status as a leading player in the healthcare sector, offering investors a sense of stability.

Related Stock Reports

Disclaimer: This report is for informational purposes only and does not constitute financial advice. The analysis and opinions expressed are those of AltStation.io and should not be relied upon as the sole basis for investment decisions. Always conduct your own research and consult with a qualified financial advisor before making investment decisions. Past performance does not guarantee future results. Updated February 07, 2026.