If you’re searching for the stock price for Anthem, you might notice something weird right away. You’ll see "Elevance Health" popping up everywhere. Basically, the company isn't officially called Anthem Inc. anymore. They rebranded back in June 2022, and honestly, it still trips people up. The ticker symbol swapped from ANTM to ELV on the New York Stock Exchange, marking a massive shift in how the company wants the world to see it.
They aren't just "the insurance people" anymore.
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Right now, as of mid-January 2026, the stock is hovering around $374.87. It’s been a bit of a rollercoaster. Just a year ago, investors were looking at highs near $458, but the last few months have been... let's call them "character building." If you’ve been watching the charts, you’ve seen a roughly 18% drop from those peaks, mostly because medical costs are getting more expensive and the government is being a bit stingy with Medicaid rates.
Why the Stock Price for Anthem (Elevance) is Jumping Around
So, why is the price moving? It’s rarely one thing. In early January 2026, Wolfe Research basically gave the stock a "gold star" by upgrading it to Outperform. They set a price target of $425. Why? Because they think the earnings have finally hit rock bottom. When a stock hits the floor, the only way is up, right? Well, usually.
The market is currently obsessing over "utilization." That’s a fancy way of saying "how many people are actually going to the doctor." During 2025, people went to the doctor a lot. For an insurance company, that’s bad news because they have to pay the bills. But latest reports from analysts like those at Simply Wall St suggest this trend might be peaking. If people stop going to the doctor quite so much, Elevance keeps more of those premiums.
The Medicaid Headache
You can't talk about the stock price for Anthem without talking about the government. A huge chunk of their business comes from Medicaid. Lately, the states haven't been increasing the rates they pay Elevance fast enough to keep up with the actual cost of care. It’s a squeeze.
- Medical Loss Ratio (MLR): This is the number everyone watches. It recently hit about 88.9%. That means for every dollar they take in, nearly 89 cents goes right back out to pay for medical care.
- The ACA Factor: There was a lot of stress about the Affordable Care Act subsidies expiring. However, recent whispers from Washington suggest these might get extended for another two years. That news alone sent the stock up a few percentage points last week.
Understanding the Carelon Pivot
Elevance is trying to pull a "UnitedHealth." You know how UnitedHealth has Optum? Well, Elevance has Carelon.
Carelon is their healthcare services arm. It handles pharmacy benefits (CarelonRx) and behavioral health. This is the secret sauce. While the insurance side (the "Anthem" branded plans) is heavily regulated and has thin margins, Carelon can be much more profitable.
Honestly, the long-term case for the stock rests almost entirely on Carelon. If they can move 80% of their medical spending into "value-based care" by 2027—which is their stated goal—they won't just be paying doctors for every visit. They'll be paying for results. It’s a huge gamble on efficiency.
What the Experts are Saying Right Now
If you look at the consensus from about 18 different analysts, the vibe is "Cautiously Optimistic." Most have a "Buy" or "Moderate Buy" rating. The average price target is sitting around $396 to $400.
- The Bulls: They point to the dividend yield of about 1.8%. It’s steady. They also love the share buybacks. Elevance is famous for aggressively buying back its own stock, which makes the remaining shares more valuable.
- The Bears: They’re worried about 2026 being a "reset year." Deutsche Bank actually downgraded the stock recently, citing a tough operating backdrop. They slashed their target to $320, which is a pretty grim outlook compared to the others.
Is the Anthem Brand Still Around?
Yes, and this is where it gets confusing for retail investors. While the parent company is Elevance Health, they still use the Anthem Blue Cross Blue Shield name in 14 states. If you have an insurance card in your pocket that says Anthem, you’re still a customer of the company trading under the ELV ticker. They kept the name for the plans because people trust it, but they changed the corporate name to tell Wall Street they are "more than insurance."
Practical Next Steps for Investors
If you're looking at the stock price for Anthem as a potential entry point, don't just stare at the daily chart.
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Keep a very close eye on the January 28, 2026 earnings call. That is going to be the "make or break" moment for the Q1 sentiment. Management needs to show that they’ve got a handle on those rising medical costs. If the MLR (Medical Loss Ratio) comes in lower than expected, the stock could easily pop back toward that $400 mark.
Also, watch the news out of D.C. regarding ACA premium tax credits. If those are officially extended, the "political risk" premium on the stock will vanish. Right now, the stock is trading at a P/E ratio of about 15.25, which is relatively cheap compared to its historical average. It’s a value play, but only if you believe the "managed care" storm is finally passing.
Check your portfolio's exposure to the healthcare sector as a whole. Diversification matters because when Medicare Advantage rates get cut, the whole sector—UnitedHealth, Humana, and Elevance—usually all take a hit together. Stay sharp on the policy shifts; in 2026, the pen of a regulator is more powerful than the balance sheet of the company.