ELEVANCE HEALTH, INC.
In the published model solve dated 2026-Q2, anchored at $394.43, ELEVANCE HEALTH, INC. (ELV) is priced for 12.2% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed July 25, 2026 from SEC EDGAR filings.
• Two businesses share one ticker: a Blue Cross franchise that provided health benefit and other healthcare services to roughly 34 million Blue Cross and/or Blue Shield enrollees at the end of 2025, and Carelon, a pharmacy and care-services arm that earned a higher operating margin last quarter than the insurance it exists to serve. • The risk-bearing membership is shrinking while claims costs are not: Medicare Advantage enrollment fell 15.9% year over year to about 1.9 million, Medicaid fell 4.
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1,426 institutional managers reported holding ELV in 13F filings for the quarter ended 2026-03-31. Together they hold about 88% of the company; the top 10 hold 42%. 121 opened new positions that quarter. Held by Vanguard Group, BlackRock, State Street, among others. On the short side, 6.3M shares were sold short as of the 2026-06-15 count, about 3% of shares outstanding (3.5 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ELV has cut its share count 10.1% over the past five years, spending $12.59B on repurchases. It pays a dividend, and has for 15 years running, raised 14 years straight; the current rate is $5.92 a share annually. Cash returned over the past three years: $4.11B in dividends and $8.04B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at ELV over the trailing three years: 2025: 4 buys totaling $2.81M; 2026: 1 buy totaling $870k. 21 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ELV's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-20 | +7.2% | -5.2% |
| 2023-10-19 | -0.5% | +0.2% |
| 2024-02-22 | +2.1% | +5.4% |
| 2024-04-19 | +4.4% | +0.6% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ELV's latest 8-K filings: 2026-07-15 (items 2.02, 9.01); 2026-06-10 (items 7.01); 2026-05-13 (items 5.07); 2026-04-22 (items 2.02, 9.01); 2026-03-10 (items 7.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: July 25, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.