Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. Elevance Health's shares outstanding for the quarter that ended in Mar. 2026 was 217 Mil.
Elevance Health's quarterly shares outstanding
declined
from Dec. 2025 (221 Mil) to Mar. 2026 (217 Mil).
It means Elevance Healthbought back shares from Dec. 2025 to Mar. 2026 .
Elevance Health's annual shares outstanding
declined
from Dec. 2024 (227 Mil) to Dec. 2025 (221 Mil).
It means Elevance Healthbought back shares from Dec. 2024 to Dec. 2025 .
Elevance Health (MEX:ELV) Shares Outstanding (EOP) Explanation
A company may buy back shares or issue shares in any fiscal period. If a company buys back shares, we should observe that the total number of shares decline. If the company issues new shares, the number of shares outstanding increases.
Usually the presence of treasury shares and a history of buyback are good indicators that company has competitive advantage. But studies have shown that companies usually buy back at wrong time. Buying back shares below its intrinsic value increases value for remaining shareholders. Buying back overvalued shares destroys value for existing shareholders.
Be Aware
Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred net income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.
Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.
If net earnings is less than 10%, likely to be in a highly competitive business.
Elevance Health Shares Outstanding (EOP) Related Terms
Elevance Health Shares Outstanding (EOP) Historical Data
* Premium members only.
The historical data trend for Elevance Health's Shares Outstanding (EOP) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
MEX:ELV vs CI, HUM, CVS: Shares Outstanding (EOP) Comparison
For the Healthcare Plans subindustry, Elevance Health's Shares Outstanding (EOP), along with its competitors' market caps and Shares Outstanding (EOP) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Elevance Health Shares Outstanding (EOP) vs Healthcare Plans Industry
For the Healthcare Plans industry and Healthcare sector, Elevance Health's Shares Outstanding (EOP) distribution charts can be found below:
* The bar in red indicates where Elevance Health's Shares Outstanding (EOP) falls into.
Elevance Health Shares Outstanding (EOP) Calculation
Shares outstanding are shares that have been authorized, issued, and purchased by investors and are held by them. They have voting rights and represent ownership in the corporation by the person that holds the shares. They should be distinguished from treasury shares, which are shares held by the corporation itself, having no exercisable rights.
Shares outstanding can be calculated as either basic or fully diluted. The fully diluted shares outstanding count includes diluting securities, such as options, warrants or convertibles.
What does a Shares Outstanding (EOP) of 217 Mil mean?
Elevance Health (MEX:ELV) has a Shares Outstanding (EOP) of 217 Mil as of Mar. 2026. The total shares a company has outstanding, at period-end. View historical data on Elevance Health and its competitors.
Is Elevance Health's Shares Outstanding (EOP) too high?
Elevance Health's current Shares Outstanding (EOP) is 217 Mil. Overall, Elevance Health has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Elevance Health's Shares Outstanding (EOP) compare to CI and HUM?
Elevance Health's Shares Outstanding (EOP) of 217 Mil can be compared against companies in the Healthcare Plans industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Shares Outstanding (EOP) for a Healthcare Plans company?
A good Shares Outstanding (EOP) depends on the Healthcare Plans industry context. However, Shares Outstanding (EOP) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Shares Outstanding (EOP) mean?
A high Shares Outstanding (EOP) can signal that a stock is expensive relative to its fundamentals. The total shares a company has outstanding, at period-end. View historical data on Elevance Health and its competitors. Elevance Health's current Shares Outstanding (EOP) is 217 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Elevance Health stock overvalued right now?
Based on GuruFocus' analysis, Elevance Health (MEX:ELV) is currently considered Modestly Undervalued. The stock's GF Value™ is MXN8,687.10, compared to a current price of MXN7,144.06 — trading 17.8% below its estimated fair value. The current Shares Outstanding (EOP) is 217 Mil. Elevance Health's overall GF Score™ is 71/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Shares Outstanding (EOP) calculated?
Shares Outstanding (EOP) is calculated from a company's financial statements. For Elevance Health (MEX:ELV), the current Shares Outstanding (EOP) is 217 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Elevance Health (MEX:ELV) Overvalued in 2026?
Based on GuruFocus' analysis, Elevance Health stock appears to be undervalued.
The current stock price of MXN7,144.06 is trading 17.8% below its estimated GF Value™ of MXN8,687.10.
GuruFocus considers Elevance Health to be Modestly Undervalued.
Key valuation signals for MEX:ELV:
Shares Outstanding (EOP): 217 Mil
GF Value™: MXN8,687.10 vs. price of MXN7,144.06 (17.8% below fair value)
No single metric tells the full story. See the MEX:ELV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Elevance Health remains one of the leading health insurers in the US, providing medical benefits to 45 million medical members at the end of 2025. The company offers employer, individual, and government-sponsored coverage plans. Elevance differs from its peers in its unique position as the largest single provider of Blue Cross Blue Shield branded coverage, operating as the licensee for the Blue Cross Blue Shield Association in 14 states. Through acquisitions, such as the Amerigroup deal in 2012 and MMM in 2021, Elevance's reach expands beyond those states in government-sponsored programs, such as Medicaid and Medicare Advantage plans, too. It is also an emerging player in pharmacy benefit management and other healthcare services.
71GF Score
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Shares Outstanding (EOP) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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