Elevance Health (ELV) reported weaker-than-expected third-quarter earnings, with revenue slightly exceeding estimates but profit falling significantly. The company cited challenges in the Medicaid business and adjusted its full-year guidance downwards. Despite the miss, several analysts remain optimistic, maintaining their ‘Buy’ or ‘Overweight’ ratings, but with lowered price targets.
Elevance Health (ELV) exceeded analysts’ expectations in its second-quarter earnings report, driven by strong performance in CarelonRx and investment income. However, the company’s medical membership declined, and premium revenues fell. Despite the positive earnings, analysts have lowered their estimates for the stock, raising concerns about its future performance.
