Elevance Health shares fall as Medicare regulator threatens enrollment sanctions

Elevance Health (ELV) is down 3.2% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied to investor concern over potential Medicare Advantage business disruption after the company disclosed a federal regulator’s intent to impose intermediate sanctions. Even though the restrictions would not start immediately, the prospect of an enrollment suspension can pressure valuation because it could slow membership growth and raise compliance costs.

Details:

A federal Medicare regulator issued a notice dated Feb. 27, 2026, indicating it may impose intermediate sanctions tied to alleged noncompliance related to risk-adjustment/data submission requirements.

The notice contemplates a suspension of new enrollments (and related communications) for certain Medicare Advantage prescription drug plan contracts, with an effective date of March 31, 2026, unless issues are addressed by then.

In an SEC filing, Elevance said it is engaging with the regulator and working to address the matters raised in the notice.

With the Medicare Advantage open-enrollment period running through March, investors may be discounting near-term uncertainty around sales momentum and remediation timelines.

Sources:

CMS, SEC, Fierce Healthcare

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$ELV Insider Trading Activity

$ELV insiders have traded $ELV stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $ELV stock by insiders over the last 6 months:

STEVEN H COLLIS purchased 3,000 shares for an estimated $869,519

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

$ELV Hedge Fund Activity

We have seen 647 institutional investors add shares of $ELV stock to their portfolio, and 943 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 7,196,465 shares (-75.4%) from their portfolio in Q4 2025, for an estimated $2,522,720,805
WELLINGTON MANAGEMENT GROUP LLP added 1,668,679 shares (+25.2%) to their portfolio in Q4 2025, for an estimated $584,955,423
PRICE T ROWE ASSOCIATES INC /MD/ added 1,607,274 shares (+27.5%) to their portfolio in Q4 2025, for an estimated $563,429,900
HARRIS ASSOCIATES L P added 1,604,821 shares (+50.3%) to their portfolio in Q4 2025, for an estimated $562,570,001
GQG PARTNERS LLC removed 1,463,610 shares (-100.0%) from their portfolio in Q3 2025, for an estimated $472,921,663
CAPITAL INTERNATIONAL INVESTORS removed 1,367,274 shares (-46.3%) from their portfolio in Q4 2025, for an estimated $479,297,900
INVESCO LTD. added 1,306,390 shares (+50.3%) to their portfolio in Q4 2025, for an estimated $457,955,014

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

$ELV Government Contracts

We have seen $272,545,337 of award payments to $ELV over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

PART A/PART B MEDICARE ADMINISTRATIVE CONTRACTOR (MAC) JURISDICTION K (JK): $107,668,083
J6 A/B MAC SERVICES: $79,005,474
NEXT GENERATION DESKTOP IGF::OT::IGF: $64,075,990
SPARC WILL BE THE MAJOR CONTRACT VEHICLE FOR CMS IT SYSTEMS AND SUPPORT HHS OPDIVS CAN ALSO MAKE USE OF SPA...: $11,890,083
THE CONTRACTOR SHALL PROVIDE SUPPLIES AND/OR SERVICES TO PROVIDE A SINGLE FRONT-END SOLUTION FOR THE SUBMIS...: $4,213,107

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

$ELV Congressional Stock Trading

Members of Congress have traded $ELV stock 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $ELV stock by members of Congress over the last 6 months:

SENATOR MARKWAYNE MULLIN purchased up to $50,000 on 12/29.

To track congressional stock trading, check out Quiver Quantitative's congressional trading dashboard.

$ELV Analyst Ratings

Wall Street analysts have issued reports on $ELV in the last several months. We have seen 6 firms issue buy ratings on the stock, and 0 firms issue sell ratings.

Here are some recent analyst ratings:

Barclays issued a "Overweight" rating on 01/30/2026
Wells Fargo issued a "Overweight" rating on 01/30/2026
TD Cowen issued a "Buy" rating on 11/26/2025
Mizuho issued a "Outperform" rating on 11/04/2025
JP Morgan issued a "Overweight" rating on 10/28/2025
Guggenheim issued a "Buy" rating on 10/08/2025

To track analyst ratings and price targets for $ELV, check out Quiver Quantitative's $ELV forecast page.

$ELV Price Targets

Multiple analysts have issued price targets for $ELV recently. We have seen 12 analysts offer price targets for $ELV in the last 6 months, with a median target of $392.0.

Here are some recent targets:

David Macdonald from Truist Securities set a target price of $390.0 on 02/02/2026
Lisa Gill from JP Morgan set a target price of $397.0 on 02/02/2026
Stephen Baxter from Wells Fargo set a target price of $391.0 on 01/30/2026
Andrew Mok from Barclays set a target price of $393.0 on 01/30/2026
Jason Cassorla from Guggenheim set a target price of $396.0 on 01/29/2026
Justin Lake from Wolfe Research set a target price of $425.0 on 01/08/2026
George Hill from Deutsche Bank set a target price of $320.0 on 12/19/2025

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.