13 Cheap Healthcare Stocks with Huge Upside Potential

10. Elevance Health, Inc. (NYSE:ELV)

Analyst Upside: 39.67%

Forward P/E: 10.09

Number of Hedge Fund Holders: 75

Elevance Health, Inc. (NYSE:ELV) is one of the 13 Cheap Healthcare Stocks with Huge Upside Potential. On June 19, Bernstein analyst Lance Wilkes maintained a Buy rating on Elevance Health, Inc. (NYSE:ELV) with a price target of $585.00.

The company reported a 15.4% increase in operating revenue for fiscal Q1 2025 compared to the same period last year, reaching $48.8 billion. Adjusted operating gain for the quarter reached $3.3 billion, up 4.1% from Q1 2024.

Elevance Health, Inc. (NYSE:ELV) reaffirmed its fiscal year 2025 adjusted diluted EPS range, expecting it to be between $34.15 and $34.85. It also returned $1.3 billion of capital to shareholders in the quarter.

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.