Elevance Health (ELV)

• Market cap: $89.3B
• 1 day: -1.38%
• 5 days: -1.77%
• 1 month: -1.06%
• 3 months: -4.58%
• 6 months: -28.99%
• Year to date: 5.27%
• 1 year: -24.40%
• 5 years: -18.60%
• 10 years: -18.60%
• Sector: Financials
• Industry: Hospital & Medical Service Plans

About: Elevance Health remains one of the leading health insurers in the U.S., providing medical benefits to 47 million medical members as of December 2023. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states through government-sponsored programs such as Medicaid and Medicare Advantage plans, too.

Employees: 104,900

Fund manager confidence

Based on 2024 Q4 regulatory filings by fund managers ($100M+ AUM)

9% more call options, than puts

Call options by funds: $676M | Put options by funds: $619M

0.18% more ownership

Funds ownership: 88.35% [Q3] → 88.53% (+0.18%) [Q4]

9% less funds holding

Funds holding: 1,664 [Q3] → 1,510 (-154) [Q4]

28% less funds holding in top 10

Funds holding in top 10: 50 [Q3] → 36 (-14) [Q4]

29% less capital invested

Capital invested by funds: $106B [Q3] → $75.6B (-$30.2B) [Q4]

31% less first-time investments, than exits

New positions opened: 188 | Existing positions closed: 273

37% less repeat investments, than reductions

Existing positions increased: 448 | Existing positions reduced: 706

Research analyst outlook

5 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $405 5% upside
• Avg. target: $472 23% upside
• High target: $512 33% upside

5 analyst ratings

• positive: 4 80%
• neutral: 1 20%
• negative: 0 0%

Argus Research David Toung 46% 1-year accuracy 6 / 13 met price target	5% upside $405	Hold Reiterated	29 Jan 2025
Wells Fargo Stephen Baxter 24% 1-year accuracy 9 / 38 met price target	24% upside $478	Overweight Maintained	28 Jan 2025
Cantor Fitzgerald Sarah James 31% 1-year accuracy 38 / 124 met price target	26% upside $485	Overweight Reiterated	24 Jan 2025
Barclays Andrew Mok 38% 1-year accuracy 26 / 68 met price target	33% upside $512	Overweight Maintained	24 Jan 2025
Truist Securities David Macdonald 59% 1-year accuracy 57 / 96 met price target	25% upside $480	Buy Maintained	6 Jan 2025