Wells Fargo Raises Elevance Health (ELV) Price Target to $492
Key Points
- Wells Fargo increased its price target for Elevance Health from $473 to $492 while keeping an Overweight rating on the stock.
- Wells Fargo's $492 price target implies 14.07% upside from Elevance Health, Inc.'s ($ELV) current $431.32 share price.
- As of October 27, 2026, Elevance Health's shares were recently trading around $431.32, which is about 1.4% above the closing price of $425.36 on the same day.
- The next earnings report for Elevance Health is scheduled for January 28, 2027.
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On October 27, 2026, Wells Fargo raised its price target for Elevance Health, Inc. (NYSE: ELV) to $492 from $473. The firm maintained an Overweight rating on the stock. This update comes as other analysts have also recently adjusted their targets for Elevance Health.
ELV
Elevance Health, Inc.
Wells Fargo vs. the S&P 500
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Other Institutional Activity in Elevance Health
J. Safra Sarasin Holding grew its holdings by 22,495 shares, bringing its total to 36,832 shares valued at about $13.9 million. Meanwhile, Marathon Asset Management reduced its stake by 47,453 shares, leaving it with 172,037 shares worth around $66.9 million. Sanders Capital, LLC trimmed its position by 69,556 shares, holding 5,825,024 shares valued at about $2.5 billion. In contrast, Harris Associates L.P. added 128,065 shares, increasing its total to 4,924,511 shares worth approximately $2.1 billion. Artisan Partners Limited Partnership decreased its stake by 546,055 shares, ending with 4,581,222 shares valued at about $1.98 billion.
Elevance Health, Inc. Stock Down 3.1%
As of October 27, 2026, Elevance Health shares were trading around $431.32, which is about 1.4% above the closing price of $425.36 on the same day. The stock is currently below Wells Fargo's new price target of $492, indicating potential upside based on this analyst's view.
$ELV price target
Elevance Health, Inc. daily closes and this analyst's $492 target. Not advice.
Recent Earnings
Elevance Health reported trailing twelve-month revenue of about $201.8 billion, with earnings per share (EPS) of $23.55. The company has a net margin of 2.5% and a return on equity (ROE) of 11.5%. The next earnings report is set for 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.
Insider Buying and Selling at Elevance Health, Inc.
In recent insider transactions, Director Ramiro G. Peru bought 1,000 shares at an average price of $366.05 on July 17, 2026, totaling about $366,050. CEO Gail A. Koziara Boudreaux also purchased 2,725 shares on the same date, valued at approximately $1 million. Other insiders, such as Robert L. Dixon Jr. and Ronald W. Penczek, sold shares earlier in June.
Analysts Set New Price Targets
On October 22, 2026, UBS maintained a Buy rating with a price target of $523, while Guggenheim also kept a Buy rating with a target of $485. Morgan Stanley maintained an Equal-Weight rating with a target of $449, and TD Cowen upheld a Buy rating with a target of $495. The consensus rating for Elevance Health remains strong, indicating a positive outlook among analysts.
About Elevance Health
Elevance Health, Inc. is a health benefits company based in Indianapolis, Indiana. It operates in several segments, including Health Benefits and Carelon Services. The company aims to provide innovative healthcare solutions to its members across the United States.
Bottom Line
Investors should watch for Elevance Health's next earnings report on January 28, 2027, and keep an eye on further analyst ratings and institutional activity. The recent price target adjustments suggest that analysts remain optimistic about the company's future performance.
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Source: Wells Fargo's rating change on $ELV (Oct 27, 2026). Written by software, not financial advice. How we make alerts