Barclays Raises Elevance Health (ELV) Price Target to $472
Key Points
- Barclays maintained its Overweight rating on Elevance Health, Inc. on October 22, 2026, while lifting its price target from $469.00 to $472.00.
- Barclays's $472 price target implies 8.72% upside from Elevance Health, Inc.'s ($ELV) current $434.13 share price.
- Elevance Health closed at $446.35 on October 22, 2026, and recently traded around $434.13.
- Other major firms including Guggenheim, Morgan Stanley, RBC Capital, and Baird also recently updated their views on the stock.
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On October 22, 2026, Barclays maintained its Overweight rating on Elevance Health, Inc. ELV and nudged its price target up from $469.00 to $472.00. The research note outlines the firm's continued positive stance on the health benefits provider as markets navigated the autumn trading schedule. Elevance Health closed at $446.35 on October 22, 2026, and recently traded at $434.13. That recent price sits below the new target from Barclays.
ELV
Elevance Health, Inc.
Barclays vs. the S&P 500
Hypothetical returns from Barclays's disclosed trades, not real profit or advice. How we model this.
Barclays's Call on Elevance Health
Barclays kept its Overweight rating on the health insurer while shifting the target higher by $3.00 from the prior $469.00 level. The adjustment arrives alongside a busy wave of updates from other Wall Street firms covering the healthcare sector.
Other Institutional Activity in Elevance Health
Large asset managers continue to adjust their holdings in the health benefits provider. Sanders Capital, LLC reduced its stake by 69,556 shares to end with 5,825,024 shares valued at about $2,599,998,964.0. Harris Associates L.P. grew its holdings by 128,065 shares, ending with 4,924,511 shares worth about $2,198,055,064.0. Artisan Partners Limited Partnership cut its position by 546,055 shares, leaving it with 4,581,222 shares valued at about $2,044,828,048.0.
Elevance Health, Inc. Stock Holds Steady
The shares recently changed hands at $434.13, sitting below the $446.35 close recorded on October 22, 2026. The stock is positioned above its 50-day moving average of $406.29 and above its 200-day moving average of $370.40. The company carries a market capitalization of roughly $96.8 billion.
$ELV price target
Elevance Health, Inc. daily closes and this analyst's $472 target. Not advice.
Recent Earnings
Elevance Health reported trailing twelve-month revenue of $201,113,993,216.0 with basic earnings per share of $23.55 over the same period. The company recorded a net profit margin of 2.5% and a return on equity of 11.1%, alongside year-over-year revenue growth of 1.4%. The next quarterly earnings report is scheduled for release on January 28, 2027.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
9 target raises vs 1 cuts.
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EPS & revenue
EPS beat estimates by 15.1%. Revenue beat estimates by 3.1%.
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Profit surprise
EBITDA missed by 25 percent. Operating income missed by 25 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
2 upgrades, 9 target raises, 1 target cut.
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Earnings quality
Gross margin down 9.6 points. Operating margin down 1.1 points. Positive free cash flow.
Earnings Call Summary
Elevance Health delivered stronger than expected first quarter results with earnings per share of $12.58 beating the $10.68 consensus. Revenue came in at $50.2 billion, above the $48.7 billion expected. The company is executing on cost management initiatives in Medicaid and Medicare, with favorable claims experience and improved performance from AI and care delivery programs through Carelon. Management highlighted strong commercial selling momentum for 2027 with record pipelines and employer focus on affordability.
Guidance Management raised full year adjusted earnings guidance to at least $26.75 per share. They expect 2027 earnings to grow at least 12 percent from a revised 2026 baseline of $25.75. The company is confident in this outlook based on improving cost trend management and better than expected first quarter performance.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Dividend
Shareholders receive an annual dividend rate of $6.88 per share, which translates to a dividend yield of 1.58%. The payout ratio stands at 30.4% of earnings.
Insider Buying and Selling at Elevance Health, Inc.
Corporate insiders have transacted in company shares over recent months. Director Robert L Dixon Jr sold 151 shares on June 11, 2026, at an average price of $401.77 for a total value of $60,667.0. Officer Ronald W Penczek sold 369 shares on June 12, 2026, at $403.16 per share for a total of $148,766.0. On the buying side, Director Ramiro G Peru purchased 1,000 shares on July 17, 2026, at $366.05 for $366,050.0, and Chief Executive Officer Gail A Koziara Boudreaux acquired 2,725 shares on July 17, 2026, valued at $1,002,230.0.
Analysts Set New Price Targets
Wall Street firms have actively adjusted targets alongside Barclays. On October 12, 2026, Guggenheim maintained a Buy rating and raised its target from $455.00 to $460.00. Morgan Stanley kept an Equal-Weight rating on October 22, 2026, lifting its target from $404.00 to $449.00. RBC Capital maintained a Sector Perform rating on October 22, 2026, moving its target from $424.00 to $455.00. Baird also maintained a Neutral rating on October 22, 2026, raising its target from $393.00 to $406.00. Across the broader analyst community, the stock holds a consensus buy recommendation with a mean price target of $473.00 based on 21 opinions.
About Elevance Health
Elevance Health operates as a major health benefits company in the United States, delivering medical coverage and health solutions through its health benefits and Carelon segments. The firm serves millions of members across commercial, employer-sponsored, and government-backed plans. Analyst adjustments from firms like Barclays track how financial institutions view the insurer's cost management and membership trends ahead of upcoming earnings.
Bottom Line
Barclays's decision to nudge its price target higher reflects steady confidence in the health plan provider. Investors will monitor upcoming sector developments and the company's next earnings report on January 28, 2027, for further indicators on operational performance.
Related Filing Alerts
Source: Barclays's rating change on $ELV (Oct 22, 2026). Written by software, not financial advice. How we make alerts