Elevance Health appoints Steve Collis to board of directors

INDIANAPOLIS - Elevance Health (NYSE:ELV), a $64 billion healthcare giant with annual revenues exceeding $189 billion, announced the appointment of Steve Collis to its board of directors, effective August 1, 2025. Collis will also serve on the board’s Audit and Finance Committees. According to InvestingPro data, the company currently trades near its 52-week low, suggesting potential value opportunity for investors.

Collis currently serves as Executive Chairman of the Board of Cencora (formerly AmerisourceBergen). He joined Cencora in 1994 and held several executive leadership positions, including President and Chief Executive Officer from 2011 until becoming Executive Chairman in 2024.

During his 13-year tenure as CEO, Collis led Cencora through strategic transformation, expanding its global reach and capabilities across the pharmaceutical and healthcare supply chain.

"Steve brings a distinguished record of leadership, transformation, and operational excellence," said Ramey Peru, Chair of the Elevance Health Board of Directors, according to the company’s press release. "His insights will support our continued focus on delivering high-quality care, driving innovation, and creating enduring value."

The appointment is part of Elevance Health’s structured approach to refresh its board membership in support of the company’s strategy and stakeholder needs.

Elevance Health serves over 109 million consumers through its portfolio of medical, pharmacy, behavioral, clinical, home health, and complex care solutions.

In other recent news, Elevance Health reported its second-quarter 2025 earnings, revealing adjusted earnings per share of $8.84, which aligned with consensus estimates. The company’s revenue reached $49.8 billion, exceeding expectations by approximately 2.8%, primarily due to increased pharmacy revenues and premiums per policy. Despite these figures, Elevance reduced its earnings per share outlook by $4.50, translating to a $1.3 billion reduction in pre-tax income. UBS maintained its Buy rating on Elevance, but adjusted the price target to $435, citing Medicaid cost pressures. Similarly, TD Cowen lowered its price target to $330, attributing the decision to pressures in the Health Insurance Exchange and Medicaid segments. Bernstein also revised its price target downward to $445 while maintaining an Outperform rating, highlighting pressures from ACA and Medicaid. Cantor Fitzgerald reiterated an Overweight rating with a $400 price target, although it expressed concerns about establishing a clear 2025 baseline due to one-time factors. These developments underscore the mixed reactions among analysts in response to Elevance’s recent financial performance.

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