Guggenheim Raises Elevance Health (ELV) Price Target to $485

Guggenheim reaffirmed its Buy rating on Elevance Health, Inc. (NYSE:ELV) on October 22, 2026, while lifting its price target to $485.00 from $460.00. The research note arrived alongside a flurry of updates from other major Wall Street firms evaluating the health benefits provider. Shares of Elevance Health closed at $445.28 on the day of the update. Guggenheim's decision puts its target above the current trading range, reflecting a positive outlook on the company's long-term position in the managed care space.

ELV Elevance Health, Inc.

$446.55 ▲ +27.90% year to date

1M 3M YTD

Daily close · Oct 22, 2026

Guggenheim's Call on Elevance Health

In its October 22, 2026 research note, Guggenheim kept its Buy rating on the stock and bumped its price target up to $485.00 from $460.00. The firm's forward-looking assessment joins several other updates issued on the same day as analysts re-evaluate health plan valuations. The new target sits above the stock's recent trading level of $434.13 on October 22, 2026.

Other Institutional Activity in Elevance Health

Large investment firms have been steadily adjusting their holdings in Elevance Health during mid-2026 reporting periods. Sanders Capital, LLC reduced its holdings by 69,556 shares, ending with 5,825,024 shares valued at about $2.59 billion. Harris Associates L.P. grew its holdings by 128,065 shares, ending with 4,924,511 shares worth about $2.19 billion. Artisan Partners Limited Partnership cut its stake by 546,055 shares, leaving it with 4,581,222 shares valued at approximately $2.04 billion.

Elevance Health, Inc. Stock Holds Steady

Elevance Health shares traded recently around $434.13 as of October 22, 2026, down about 2.5% from their event-day close of $445.28. The stock sits well above its 200-day moving average of $370.40 and trades below its 52-week high of $450.69.

Recent Earnings

Elevance Health reported trailing twelve month revenue of $201.11 billion and earnings of $23.55 per share. The company posted a net profit margin of 2.5% and a return on equity of 11.1%. Its next earnings report is scheduled for January 28, 2027.

Dividend

The company pays an annual dividend rate of $6.88 per share, yielding 1.58% with a payout ratio of 30.4%.

Insider Buying and Selling at Elevance Health, Inc.

Company insiders executed several transactions earlier in 2026. Director Robert L. Dixon Jr. sold 151 shares on June 11, 2026, at an average price of $401.77 for a total of $60,667. Officer Ronald W. Penczek sold 369 shares on June 12, 2026, at an average price of $403.16 totaling $148,766. On the buying side, Director Ramiro G. Peru bought 1,000 shares on July 17, 2026, at $366.05 for $366,050, and Chief Executive Officer Gail A. Koziara Boudreaux acquired 2,725 shares on the same day valued at $1,002,230.

Analysts Set New Price Targets

Several other firms updated their views on October 22, 2026. UBS maintained a Buy rating while lifting its target to $523.00 from $460.00. Morgan Stanley kept an Equal-Weight rating with a target raised to $449.00 from $404.00. RBC Capital maintained a Sector Perform rating and moved its target to $455.00 from $424.00. Barclays reiterated an Overweight rating, nudging its target up to $472.00 from $469.00. Across Wall Street, the stock holds a consensus Buy recommendation with a mean price target of $473.00 based on 21 analyst opinions.

About Elevance Health

Elevance Health, Inc. operates as a health benefits provider across the United States. Headquartered in Indianapolis, Indiana, the company manages medical plans and pharmacy services through segments including Health Benefits and CarelonRx, supporting millions of members nationwide.

Bottom Line

Guggenheim's updated price target highlights ongoing optimism from analysts covering the health insurer. Investors will monitor the company's financial execution as they approach the next earnings release scheduled for January 28, 2027.