Elevance Health, Inc.
ELV · Hospital & Medical Service Plans · 217.2M shares · -2%/yr ↓ buyback · EDGAR filings ↗
Net buyback after stock comp: $2.4B (gross $2.7B, SBC $289M)
Reference price $403.16 · est. market cap ~$87.6B — last insider sale, 2026-06-12 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
B78Elevance Health — major managed-care insurer (Anthem Blue plans + Carelon).
Strengths
- ROA 100th pct, ROE 12.9% (71st), gross margin (91st)
- Scale across commercial and government health plans
Risks
- Thin net margin; Medicaid-redetermination and MA pressure
- Medical-cost-trend and reform sensitivity
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Strong balance sheetStrong balance sheet — $36.5B cash & investments
- Insider buyingInsider buying — 1 open-market buy(s) by 1 insider(s) (~$869,520, last 6mo) Form 4 ↗
- Buying back stockNet buyback — share count -2%/yr over 4y
- Insider sellingInsider selling — 5 open-market sale(s) by 4 insider(s) (cluster of 4 insiders, ~$2M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
89.4%
Operating margin
3.6%
Net margin
2.8%
Return on equity
12.9%
Return on assets
4.7%
ROIC
7.6%
Revenue growth (QoQ)
0.9%
Net-income growth
-5.3%
Debt / equity
0.7×
Net debt / EBITDA
-0.7×
Current ratio
1.5×
Free cash flow
$3.2B
EBITDA
$8.7B
Tangible book value
$4.3B
Cash & investments
$36.5B
Stock comp / revenue
0.1%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-12 | Penczek Ronald W | Sell | 369 | $403.16 |
| 2026-06-11 | Dixon Robert L JR | Sell | 151 | $401.77 |
| 2026-05-19 | Penczek Ronald W | Option exercise | 654 | $271.27 |
| 2026-05-19 | Penczek Ronald W | Sell | 1.5K | $403.13 |
| 2026-05-19 | Penczek Ronald W | Option exercise | 877 | $311.48 |
| 2026-05-13 | SCHULMAN AMY W | Grant | 563 | — |
| 2026-05-13 | PERU RAMIRO G | Grant | 563 | — |
| 2026-05-13 | Jallal Bahija | Grant | 563 | — |
| 2026-05-13 | COLLIS STEVEN H | Grant | 563 | — |
| 2026-05-13 | Dixon Robert L JR | Grant | 563 | — |
| 2026-05-13 | HAY LEWIS III | Grant | 563 | — |
| 2026-05-13 | DeVore Susan D. | Grant | 563 | — |
| 2026-05-13 | Schneider Ryan M. | Grant | 563 | — |
| 2026-05-13 | STRABLE-SOETHOUT DEANNA D | Grant | 563 | — |
| 2026-05-13 | Neri Antonio F | Grant | 563 | — |
| 2026-03-12 | SCHULMAN AMY W | Sell | 26 | $287.50 |
| 2026-03-06 | Kendrick Charles Morgan JR | Sell | 3.2K | $284.92 |
| 2026-03-05 | COLLIS STEVEN H | Buy | 3.0K | $289.84 |
| 2026-03-03 | Penczek Ronald W | Tax withheld | 37 | $284.03 |
| 2026-03-03 | Haytaian Peter D | Tax withheld | 446 | $284.03 |
| 2026-03-03 | Craig Ryan R | Tax withheld | 309 | $284.03 |
| 2026-03-03 | LAVU RATNAKAR | Tax withheld | 222 | $284.03 |
| 2026-03-03 | BOUDREAUX GAIL | Tax withheld | 1.7K | $284.03 |
| 2026-03-03 | Norwood Felicia F | Tax withheld | 496 | $284.03 |
| 2026-03-03 | Kaye Mark | Tax withheld | 353 | $284.03 |
| 2026-03-03 | Wessling Erin M | Tax withheld | 417 | $284.03 |
| 2026-03-03 | Kendrick Charles Morgan JR | Tax withheld | 467 | $284.03 |
| 2026-03-02 | LAVU RATNAKAR | Grant | 5.1K | — |
| 2026-03-02 | Wessling Erin M | Grant | 3.0K | — |
| 2026-03-02 | Craig Ryan R | Tax withheld | 25 | $294.07 |
| 2026-03-02 | Craig Ryan R | Grant | 3.0K | — |
| 2026-03-02 | Kendrick Charles Morgan JR | Tax withheld | 1.2K | $294.07 |
| 2026-03-02 | Kendrick Charles Morgan JR | Grant | 4.0K | — |
| 2026-03-02 | Kendrick Charles Morgan JR | Grant | 2.5K | — |
| 2026-03-02 | Kaye Mark | Tax withheld | 271 | $294.07 |
| 2026-03-02 | Kaye Mark | Grant | 6.4K | — |
| 2026-03-02 | Kaye Mark | Grant | 10K | — |
| 2026-03-02 | Norwood Felicia F | Tax withheld | 1.4K | $294.07 |
| 2026-03-02 | Norwood Felicia F | Grant | 6.0K | — |
| 2026-03-02 | Norwood Felicia F | Grant | 2.9K | — |
| 2026-03-02 | LAVU RATNAKAR | Tax withheld | 315 | $294.07 |
| 2026-03-02 | LAVU RATNAKAR | Grant | 6.8K | — |
| 2026-03-02 | Penczek Ronald W | Tax withheld | 131 | $294.07 |
| 2026-03-02 | Penczek Ronald W | Grant | 426 | — |
| 2026-03-02 | Penczek Ronald W | Grant | 1.7K | — |
| 2026-03-02 | Penczek Ronald W | Grant | 266 | — |
| 2026-03-02 | Haytaian Peter D | Tax withheld | 1.2K | $294.07 |
| 2026-03-02 | Haytaian Peter D | Grant | 2.9K | — |
| 2026-03-02 | BOUDREAUX GAIL | Tax withheld | 6.7K | $294.07 |
| 2026-03-02 | BOUDREAUX GAIL | Grant | 16K | — |
| 2026-03-02 | BOUDREAUX GAIL | Grant | 11K | — |
| 2026-02-02 | Craig Ryan R | Tax withheld | 279 | $341.83 |
| 2026-02-02 | SCHULMAN AMY W | Grant | 218 | — |
| 2025-10-02 | Kaye Mark | Tax withheld | 2.9K | $340.24 |
| 2025-09-03 | Wessling Erin M | Tax withheld | 152 | $321.59 |
| 2025-09-02 | Wessling Erin M | Grant | 931 | — |
| 2025-09-02 | Craig Ryan R | Grant | 970 | — |
| 2025-08-19 | DeVore Susan D. | Buy | 1.2K | $312.15 |
| 2025-08-01 | COLLIS STEVEN H | Grant | 639 | — |
| 2025-07-18 | BOUDREAUX GAIL | Buy | 2.3K | $286.07 |
| 2025-07-18 | BOUDREAUX GAIL | Buy | 5.1K | $287.12 |
| 2025-07-18 | BOUDREAUX GAIL | Buy | 1.1K | $287.96 |
| 2025-05-14 | STRABLE-SOETHOUT DEANNA D | Grant | 601 | — |
| 2025-05-14 | Schneider Ryan M. | Grant | 601 | — |
| 2025-05-14 | PERU RAMIRO G | Grant | 601 | — |
| 2025-05-14 | Neri Antonio F | Grant | 601 | — |
| 2025-05-14 | Jallal Bahija | Grant | 601 | — |
| 2025-05-14 | HAY LEWIS III | Grant | 601 | — |
| 2025-05-14 | Dixon Robert L JR | Grant | 601 | — |
| 2025-05-14 | DeVore Susan D. | Grant | 601 | — |
| 2025-05-14 | CLARK R KERRY | Grant | 601 | — |
| 2025-04-24 | Kaye Mark | Sell | 4.6K | $424.82 |
| 2025-03-10 | Penczek Ronald W | Sell | 443 | $415.13 |
| 2025-03-05 | Kendrick Charles Morgan JR | Sell | 3.5K | $396.30 |
| 2025-03-03 | Kendrick Charles Morgan JR | Grant | 2.8K | — |
| 2025-03-03 | Kendrick Charles Morgan JR | Grant | 3.7K | — |
| 2025-03-03 | Penczek Ronald W | Tax withheld | 198 | $395.50 |
| 2025-03-03 | Penczek Ronald W | Grant | 285 | — |
| 2025-03-03 | Penczek Ronald W | Grant | 421 | — |
| 2025-03-03 | LAVU RATNAKAR | Tax withheld | 312 | $395.50 |
| 2025-03-03 | LAVU RATNAKAR | Grant | 2.3K | — |
| 2025-03-03 | Norwood Felicia F | Tax withheld | 2.6K | $395.50 |
| 2025-03-03 | Norwood Felicia F | Grant | 3.0K | — |
| 2025-03-03 | Norwood Felicia F | Grant | 4.2K | — |
| 2025-03-03 | Haytaian Peter D | Tax withheld | 2.3K | $395.50 |
| 2025-03-03 | Haytaian Peter D | Grant | 3.0K | — |
| 2025-03-03 | Haytaian Peter D | Grant | 4.2K | — |
| 2025-03-03 | Kaye Mark | Tax withheld | 270 | $395.50 |
| 2025-03-03 | Kaye Mark | Grant | 3.6K | — |
| 2025-03-03 | BOUDREAUX GAIL | Tax withheld | 10K | $395.50 |
| 2025-03-03 | BOUDREAUX GAIL | Grant | 11K | — |
| 2025-03-03 | BOUDREAUX GAIL | Grant | 16K | — |
| 2025-03-03 | Kendrick Charles Morgan JR | Tax withheld | 2.2K | $395.50 |
| 2025-01-03 | Todt Blair Williams | Tax withheld | 398 | $371.56 |
All non-derivative Form 4 activity (SEC), newest first.
Clinical trials
| Trial | Title | Phase | Status | Primary completion |
|---|---|---|---|---|
| NCT04609644 ↗ | Asthma Digital Study Asthma | NA | Completed | 2022-11-04 |
Source: ClinicalTrials.gov (U.S. NIH) · active studies first.
Supply chain
Customers (1)
- Centers for Medicare & Medicaid Services (CMS)
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-10 | 2026-06-10 | 0001156039-26-000049 ↗ |
| 8-K | 2026-05-13 | 2026-05-13 | 0001156039-26-000046 ↗ |
| 8-K | 2026-04-22 | 2026-04-22 | 0001156039-26-000039 ↗ |
| 10-Q | 2026-04-22 | 2026-03-31 | 0001156039-26-000043 ↗ |
| 8-K | 2026-03-10 | 2026-03-10 | 0001156039-26-000024 ↗ |
| 8-K | 2026-03-02 | 2026-03-02 | 0001156039-26-000022 ↗ |
| 8-K | 2026-02-26 | 2026-02-26 | 0001156039-26-000019 ↗ |
| 10-K | 2026-02-06 | 2025-12-31 | 0001156039-26-000013 ↗ |
| 8-K | 2026-01-28 | 2026-01-28 | 0001156039-26-000006 ↗ |
| 8-K | 2025-12-10 | 2025-12-10 | 0001156039-25-000142 ↗ |
| 8-K | 2025-11-10 | 2025-11-10 | 0001156039-25-000139 ↗ |
| 10-Q | 2025-10-21 | 2025-09-30 | 0001156039-25-000136 ↗ |