Guggenheim Raises Elevance Health (ELV) Price Target to $460

Guggenheim has reaffirmed its Buy rating on Elevance Health and raised its price target to $460, a 7.20% upside from the current price.

By EarningsIQ Research Desk · Published Oct 16, 2026, 2:03 PM EDT

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Guggenheim raised its price target on Elevance Health, Inc. ($ELV) to $460 from $455 on October 12, 2026, and rates the stock "Buy".

Since the rating, $ELV is up 1.5% to date (from the $422.09 close on Oct 12, 2026).

ELV Elevance Health, Inc.

$428.26 +22.66% year to date

Daily close · Oct 16, 2026

Key Points

On October 12, 2026, Guggenheim reiterated its Buy rating on Elevance Health, Inc. (NYSE: ELV) and raised the price target from $455 to $460.
Guggenheim's $460 price target implies 7.20% upside from Elevance Health, Inc.'s ($ELV) current $429.11 share price.
As of October 16, 2026, Elevance Health shares were recently trading around $429.11, which is 6.7% below Guggenheim's new target.
Elevance Health has a trailing twelve-month revenue of approximately $201.1 billion and is set to announce its next earnings on October 21, 2026.

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Guggenheim has reaffirmed its Buy rating on Elevance Health, Inc. (NYSE: ELV) and raised its price target to $460 on October 12, 2026. This is an increase from the previous target of $455.

Guggenheim's Call on Elevance Health

Guggenheim's new target suggests a positive outlook for Elevance Health, even as the stock trades below this level. The shares were recently priced at $429.11 as of October 16, 2026, which is about 6.7% below the new target set by the firm. This gap could indicate potential for the stock to rise, depending on market movements.

Other Institutional Activity in Elevance Health

Several other institutional investors have made adjustments to their holdings in Elevance Health. Blackrock Inc. reduced its stake by 896,951 shares, ending with 18,991,090 shares worth about $8.13 billion. Vanguard Capital Management LLC also trimmed its position, selling 286,902 shares for a total of 14,058,204 shares valued at approximately $6.02 billion. Meanwhile, State Street Corporation increased its stake by 137,869 shares, bringing its total to 10,426,610 shares worth around $4.47 billion. Wellington Management Group, LLP grew its holdings by 984,958 shares, totaling 9,213,513 shares valued at about $3.95 billion. Vanguard Portfolio Management LLC decreased its position by 141,741 shares, ending with 6,214,356 shares worth about $2.66 billion.

Elevance Health, Inc. Stock Up 4.4%

Elevance Health shares are currently trading around $429.11, which is near its recent performance but still below Guggenheim's new price target of $460. The stock's position relative to the target could suggest that investors see room for growth, especially with the company's strong revenue performance.

12-month forecast

$ELV price target

Elevance Health, Inc. daily closes and this analyst's $460 target. Not advice.

Recent Earnings

Elevance Health reported a trailing twelve-month revenue of approximately $201.1 billion and an earnings per share (EPS) of $22.6. The company has a net margin of 2.5% and a return on equity (ROE) of 11.1%. The next earnings announcement is scheduled for October 21, 2026.

Earnings drift grade

Outlook vs expectations on the last report — not price action.

B- 71/100

Reported Apr 22, 2026

Forward outlook
9 target raises vs 1 cuts.
EPS & revenue
EPS beat estimates by 15.1%. Revenue beat estimates by 3.1%.
Profit surprise
EBITDA missed by 25 percent. Operating income missed by 25 percent.
Pre-earnings setup
Expectations were about average.
Analyst signal
2 upgrades, 9 target raises, 1 target cut.
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

Elevance Health pays an annual dividend rate of $6.88, with a payout ratio of 30.3%.

Insider Buying and Selling at Elevance Health, Inc.

Insider transactions have also been noted at Elevance Health. CEO Gail A. Koziara Boudreaux bought 2,725 shares on July 17, 2026, valued at approximately $1,002,230. Additionally, Director Ramiro G. Peru purchased 1,000 shares on the same day for about $366,050. In contrast, Director Robert L. Dixon Jr. sold 151 shares on June 11, 2026, for about $60,667, and Officer Ronald W. Penczek sold 369 shares on June 12, 2026, valued at approximately $148,766.

Analysts Set New Price Targets

On October 12, 2026, Guggenheim maintained its Buy rating on Elevance Health with a new price target of $460, up from $455. The consensus among analysts gives Elevance Health a positive outlook, indicating confidence in its future performance.

About Elevance Health

Elevance Health, Inc. operates as a health benefits company in the United States, providing services through segments like Health Benefits and CarelonRx. With a workforce of over 96,000 employees, the company is headquartered in Indianapolis, Indiana.

Bottom Line

Investors should keep an eye on Elevance Health as it approaches its next earnings report on October 21, 2026. With Guggenheim's updated price target and the stock's current trading position, there could be opportunities for movement in the coming weeks.