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Elevance Health, Inc. (NYSE:ELV) is one of the 10 Cheap Large Cap Stocks to Buy According to Hedge Funds. On June 18, Wells Fargo analyst Stephen Baxter maintained a Buy rating on Elevance Health, Inc. (NYSE:ELV) and set a price target of $478.00.
The company reported positive fiscal Q1 2025 results, with operating revenue for the quarter reaching $48.8 billion, up 15.4% from fiscal Q1 2024. Elevance Health, Inc. (NYSE:ELV) also reported $3.3 billion in adjusted operating gains, reflecting a 4.1% growth compared to the same period last year.
Elevance Health, Inc. (NYSE:ELV) offers telehealth services to its customers, reporting in 2024 that the company conducted more than 800,000 virtual visits in 2023. This health company operates through the following segments: Health Benefits, CarelonRx, Carelon Services, and Corporate and Other.
The Health Benefits segment offers a range of health plans and services, while the CarelonRx segment manages pharmacy services. The Carelon Services segment offers various healthcare-related services by integrating behavioral, physical, pharmacy, and social services.
While we acknowledge the potential of ELV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you’re looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock.
READ NEXT: 30 Stocks That Should Double in 3 Years and 11 Hidden AI Stocks to Buy Right Now.
Disclosure: None. This article is originally published at Insider Monkey.
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