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With a market cap of $93.2 billion, Elevance Health, Inc. (ELV) operates as a health benefits company in the United States. Headquartered in Indianapolis, Indiana, the company operates in four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other.
Shares of the healthcare provider have fallen behind the broader market over the past year but have outperformed in 2025. ELV stock has declined 26.7% over the past 52 weeks and has surged 8.5% on a YTD basis. In comparison, the S&P 500 Index ($SPX) has returned 9.8% over the past year and declined marginally in 2025.
Narrowing the focus, ELV has also lagged behind the Health Care Select Sector SPDR Fund’s (XLV) 10% fall over the past 52 weeks but has outperformed its 4% decline this year.
On Apr. 22, ELV stock grew 2.2% after the release of its Q1 earnings. The company reported a 14.5% year-over-year growth in its revenue, which amounted to $48.8 billion and beat the Street’s estimates. However, its operating margin fell from 8.2% in the previous year’s quarter to 6.5% for the quarter. KLAC’s adjusted EPS came in at $11.97 and successfully met the consensus estimates.
For the current year ending in December, analysts expect ELV’s EPS to increase 4.2% year over year to $34.42. Moreover, the company has surpassed or met analysts’ consensus estimates in three of the past four quarters, while missing on one occasion.
Among the 20 analysts covering the stock, the consensus rating is a “Strong Buy.” That’s based on 15 “Strong Buy” ratings, one “Moderate Buy,” and four “Holds.”
The current consensus is more bullish than three months ago, when it had 14 “Strong Buy” suggestions.
On Apr. 23, RBC Capital Markets analyst Ben Hendrix maintained a ”Buy” rating for ELV stock and reaffirmed its price target at $478.
ELV’s mean price target of $497.89 indicates a premium of 24.4% from the current market prices. Its Street-high target of $585 suggests a robust 46.2% upside potential from current price levels.
