Indianapolis-based Elevance Health, Inc. (ELV) operates as a health benefits company. It supports consumers, families, and communities across the entire healthcare journey, supporting them to lead healthier lives. With a market cap of $74.7 billion, Elevance operates through Health Benefits, CarelonRx, Carelon Services, and Corporate & Other segments.
Companies worth $10 billion or more are generally described as "large-cap stocks." Elevance fits this bill perfectly. Given the company employs over 100,000 associates and serves millions of people at every stage of health, its valuation above this mark is not surprising. It addresses a full range of needs with an integrated approach, powered by industry-leading capabilities and a digital platform for health.
Despite its notable strengths, ELV stock has dropped 26.2% from its 52-week high of $458.75 touched on Apr. 8. Nonetheless, ELV has gained 9.2% over the past three months, notably outpacing the Nasdaq Composite’s ($NASX) 7.8% gains during the same time frame.
However, Elevance has underperformed the Nasdaq market over the longer term. ELV stock prices have declined 8.2% on a YTD basis and 15.8% over the past 52 weeks, compared to the Nasdaq’s 20.2% surge in 2025 and 21.1% gains over the past year.
Elevance has remained consistently below its 200-day moving average over the past year and below its 50-day moving average since May, with some fluctuations, underscoring its bearish trend.
Despite reporting better-than-expected results, Elevance’s stock prices dropped 1.2% in the trading session following the release of its Q3 results on Oct. 21. The company has continued to observe solid growth in premium collection, along with improvement in product revenues and service fees. Its overall topline for the quarter surged 12% year-over-year to $50 billion, beating the Street’s expectations by 1.2%. Its adjusted EPS dropped 29.9% year-over-year to $6.03, but surpassed the consensus estimates by 21.1%.
Meanwhile, Elevance has underperformed its peer, The Cigna Group’s (CI) marginal 80 bps uptick on a YTD basis, but performed slightly better than CI’s 16.9% drop over the past 52 weeks.
Among the 21 analysts covering the ELV stock, the consensus rating is a “Moderate Buy.” Its mean price target of $379.63 suggests a 12.1% upside potential from current price levels.
On the date of publication, Aditya Sarawgi did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. For more information please view the Barchart Disclosure Policy here.
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