If you are still looking for "Anthem" on your ticker tape, you're a few years behind the curve. The company officially became Elevance Health back in 2022, ditching the old name to prove they do more than just mail out insurance cards. But let’s get real: whether you call it Anthem or its current identity, ELV, what actually matters is the price action.
Right now, as of January 18, 2026, the stock is sitting in a fascinating spot. After a volatile stretch that saw shares dip toward a 52-week low of $273.71, the narrative is shifting. The most recent close on Friday, January 16, saw the price settle around **$374.87**.
It’s been a wild ride. Just a few days ago, on January 15, we saw a massive 2.44% jump where the stock hit an intraday high of $383.00. Investors are basically trying to decide if the "managed care" era is over or if this is just a prolonged discount on a cash-flow machine.
Anthem Stock Prices Today and the ELV Identity Shift
Most people still type "Anthem" into Google because the Blue Cross Blue Shield brand is a titan. It's the engine under the hood. However, the corporate rebranding to Elevance Health wasn't just a fresh coat of paint. CEO Gail Boudreaux pushed this change to signal a move into "whole health"—think pharmacy benefits through Carelon and data-driven clinical services.
From a trader's perspective, the ELV ticker has been acting like a coiled spring.
Look at the year-to-date performance. We are only 18 days into 2026, and the stock is already up roughly 6.92%. That is a serious sprint compared to the sluggish -2.45% it posted over the previous 12 months. Honestly, the market spent most of 2025 punishing health insurers over Medicare Advantage rate concerns and rising medical loss ratios. But the sentiment is flipping.
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Why? Because the numbers are starting to look too cheap to ignore.
The Valuation Gap: Is ELV Actually "Cheap"?
Let's talk about the P/E ratio. Currently, Elevance is trading at a normalized P/E of about 15.3. Compare that to UnitedHealth Group (UNH), which often commands a much higher premium.
Some analysts, including those at Mizuho and Wells Fargo, have been boosting their price targets this month. Mizuho recently nudged theirs up to $413, while Wells Fargo is looking even higher at $424. They’re betting on a "peak utilization" theory—the idea that the post-pandemic surge in people going to the doctor for every little ache is finally leveling off. If medical costs stabilize, profit margins for insurers like Elevance expand. It’s simple math, but the execution is where it gets tricky.
Market Cap and Institutional Weight
With a market capitalization of $83.31 billion, Elevance isn't some small-cap gamble. It’s a foundational piece of the S&P 500. Large institutional players like Massachusetts Financial Services Co. have been active lately, according to recent filings.
Here is the current snapshot for those watching the tape:
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- 52-Week High: $458.75
- 52-Week Low: $273.71
- Current Dividend Yield: 1.82% ($6.84 per share annually)
- Average Trading Volume: Roughly 1 million shares
What’s Driving the Momentum in January 2026?
The "Anthem" name might be gone, but the Blue Cross roots provide a massive moat. You've got over 45 million members in their health plans. That is a lot of recurring premium revenue.
But the real spice in the Anthem stock prices today conversation is the upcoming earnings report. Mark your calendars for January 28, 2026. That’s when the company drops its Q4 results and, more importantly, its guidance for the rest of the year.
Last year, the stock took a 12% hit after a guidance cut that scared everyone. Now, the bar is set a bit lower. The "Smart Money" seems to be betting on a beat. In the first two weeks of January, we’ve seen a series of "higher lows" on the daily chart.
The Insider Move Nobody Mentions
There’s a bit of a contradiction in the data. While analysts are shouting "Buy," some insiders have been trimming their positions. Over the last year, insiders sold about $3.5 million worth of shares. Normally, that’s a red flag. However, Gail Boudreaux herself made a significant purchase a while back. It’s a mixed bag, which is why you can’t just follow the headlines. You have to look at the cash flow.
Speaking of cash, the Free Cash Flow (FCF) for this company is projected to hit nearly $9 billion by 2030. If you discount that back to today’s dollars, some valuation models suggest the "intrinsic value" of the stock is way north of $1,000. Is it going to hit $1,000 tomorrow? No. But it suggests that at $374, you’re buying a dollar for sixty cents.
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Risks to the Recovery
It isn't all sunshine and dividends. The healthcare sector is a political football.
- Regulatory Pressure: Any tweak to Medicare Advantage reimbursement rates by CMS (Centers for Medicare & Medicaid Services) can wipe out billions in market cap overnight.
- Utilization Spikes: If a new respiratory virus or a surge in elective surgeries happens, the Medical Loss Ratio (MLR) goes up. That means more money going out to doctors and less staying in shareholders' pockets.
- Interest Rates: As a value-heavy stock, ELV is sensitive to the Fed. If rates stay "higher for longer" through 2026, growth-starved investors might keep shunning boring insurance stocks.
Actionable Insights for Investors
If you’re holding or looking to enter, keep these steps in mind.
Watch the $385 resistance level. The stock has touched the $380s several times this month but hasn't quite sustained a breakout. A clean close above $385 on high volume would signal that the trend has officially turned bullish.
Check the Carelon growth. When the earnings call happens on January 28, don't just look at the insurance premiums. Look at the "Carelon" segment. This is their health services arm. If Carelon is growing double digits, it proves the rebranding to Elevance was a smart business move, not just a marketing gimmick.
Monitor the 50-day moving average. Right now, the stock is fighting to stay above its short-term moving averages. As long as it stays above $360, the January rally remains intact.
The transition from Anthem to Elevance Health was about becoming a "lifetime health partner." For investors, the question is whether they want to be a lifetime partner with the stock. At current valuations, the risk-to-reward ratio looks more attractive than it has in years, provided the company can keep a lid on medical costs in a post-inflationary world.
Next Steps for You:
- Verify your ticker: Ensure you are tracking ELV on the NYSE, as the old ANTM ticker is defunct.
- Set an alert for Jan 28: The pre-market earnings release will be the primary catalyst for the next $50 move in either direction.
- Review the Dividend: With a 1.82% yield, it’s a decent "pay to wait" play while the market decides on a fair valuation.