Elevance Health remains one of the leading health insurers in the US, providing medical benefits to 45 million medical members at the end of 2025... Show more
Elevance Health (ELV) has traded in a relatively narrow but constructive range in recent weeks. The stock closed near $428 in mid-October 2026, up from roughly $412.56 about 30 days earlier — a gain of approximately 3.8% over that window. This modest appreciation reflects improving sentiment in the managed-care sector as investors weigh the company's ongoing efforts to stabilize government-sponsored plan margins against persistent cost-trend pressures.
The shares have recovered meaningfully from earlier-year lows, supported by a series of earnings beats and a clearer path toward margin normalization in 2027. Still, the near-term picture remains balanced, with elevated medical utilization in Medicaid offsetting progress in Medicare Advantage and growth across the company's Carelon services platform.
Elevance Health, formerly known as Anthem, is one of the largest health benefits companies in the United States. Through its affiliated Blue Cross and Blue Shield plans and other brands, the company serves approximately 104 million consumers across medical, pharmacy, behavioral, clinical, home health, and complex care solutions.
The business is organized into two primary segments. The Health Benefits segment includes Individual, Employer Group, Medicare, Medicaid, and Federal Employee Program offerings. The Carelon segment encompasses CarelonRx, the company's pharmacy benefit business, and Carelon Services, which provides behavioral health, home-based care, value-based care, and other clinical and administrative capabilities. This diversified model — combining insurance premium revenue with fee-based and product-based services — is a key competitive strength, and investors follow the stock closely as a bellwether for the broader managed-care industry alongside peers such as UnitedHealth Group (UNH) and Humana (HUM).
Elevance Health's most recent earnings report, covering the second quarter of 2026, set a broadly constructive tone. The company reported adjusted earnings per share of $7.45, which exceeded consensus estimates, while operating revenue rose about 0.8% year over year to $49.8 billion. Management raised full-year 2026 adjusted EPS guidance to at least $27 and increased its operating cash flow outlook, citing better-than-expected Medicare Advantage performance and scaling in the Carelon business.
These positive signals have been balanced by persistent pressure in Medicaid, where the company has projected a full-year operating margin of approximately -1.75% amid concentrated utilization trends in behavioral health, specialty pharmacy, outpatient surgery, and emergency department care. Elevance has responded with disciplined plan design, planned market exits, and targeted technology investments — including AI-enabled analytics for earlier cost-trend detection and payment integrity — that management expects to support a return to at least 12% adjusted EPS growth in 2027.
Ahead of third-quarter results, consensus expectations call for earnings around $4.66 per share on revenue near $48.6 billion, reflecting year-over-year declines driven primarily by lower Medicaid and Individual membership. Analysts have adjusted price targets in both directions in recent months, reflecting the tension between improving Medicare Advantage and services momentum and ongoing government-plan margin headwinds.
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Several factors are likely to shape Elevance Health's trajectory through the remainder of 2026 and into 2027. The most immediate is the third-quarter earnings report, where investors will scrutinize the Medicaid margin trend, benefit expense ratios, and any updates to full-year guidance. A key question is whether the company can demonstrate the expected sequential improvement in Medicaid margins and confirm 2026 as the trough for that business line.
Medicare Advantage execution remains another important watch item, given management's path toward at least a 2% operating margin and its conservative positioning for the 2027 selling season. The growth and profitability of Carelon — particularly CarelonRx and risk-based Carelon Services offerings — will also be closely monitored as a diversifying earnings driver. Broader regulatory developments, including potential changes affecting the Affordable Care Act exchanges and government reimbursement, could influence membership and earnings visibility. Finally, elevated medical cost trends across the sector remain a risk that could pressure margins if utilization stays above historical norms.
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The 10-day moving average for ELV crossed bullishly above the 50-day moving average on October 13, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In 10 of 15 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are 67%.
The Stochastic Oscillator suggests the stock price trend may be in a reversal from a downward trend to an upward trend. 37 of 64 cases where ELV's Stochastic Oscillator exited the oversold zone resulted in an increase in price. Tickeron's analysis proposes that the odds of a continued upward trend are 58%.
The Momentum Indicator moved above the 0 level on November 10, 2026. You may want to consider a long position or call options on ELV as a result. In 62 of 99 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are 63%.
Following a +4.98% 3-day Advance, the price is estimated to grow further. Considering data from situations where ELV advanced for three days, in 183 of 319 cases, the price rose further within the following month. The odds of a continued upward trend are 57%.
The Aroon Indicator entered an Uptrend today. In 144 of 251 cases where ELV Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are 57%.
The 10-day RSI Indicator for ELV moved out of overbought territory on October 23, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 28 similar instances where the indicator moved out of overbought territory. In 20 of the 28 cases, the stock moved lower in the following days. This puts the odds of a move lower at 71%.
The Moving Average Convergence Divergence Histogram (MACD) for ELV turned negative on October 28, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 51 similar instances when the indicator turned negative. In 26 of the 51 cases the stock turned lower in the days that followed. This puts the odds of success at 51%.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where ELV declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 58%.
ELV broke above its upper Bollinger Band on October 09, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
The Tickeron PE Growth Rating for this company is 9 (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is 29 (best 1 - 100 worst), indicating outstanding price growth. ELV’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Seasonality Score of 50 (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Valuation Rating of 64 (best 1 - 100 worst) indicates that the company is fair valued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (2.057) is normal, around the industry mean (3.520). P/E Ratio (18.775) is within average values for comparable stocks, (126.353). ELV's Projected Growth (PEG Ratio) (1.291) is slightly higher than the industry average of (0.786). Dividend Yield (0.016) settles around the average of (0.009) among similar stocks. P/S Ratio (0.453) is also within normal values, averaging (0.569).
The Tickeron Profit vs. Risk Rating rating for this company is 82 (best 1 - 100 worst), indicating that the returns do not compensate for the risks. ELV’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 84, placing this stock better than average.
The Tickeron SMR rating for this company is 99 (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a provider of life, hospital and medical insurance plans
Industry ManagedHealthCare