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Elevance Health Stock Sinks
Elevance Health Stock Plunges on Profit Hit From Fall in Medicaid Memberships
Key Takeaways Elevance Health shares plunged Thursday after the insurer reported lower-than-expected earnings and cut its outlook as changes in Medicaid slashed membership rolls.The insurer's third-quarter Medicaid membership dropped 19% from a year ago on eligibility redeterminations and other changes to the program.
Elevance Health’s stock tumbles as profit dented by ‘unprecedented’ Medicaid challenges
We remain confident in the long-term earnings potential of our diverse businesses as we navigate a dynamic operating environment and unprecedented challenges in the Medicaid business,” Chief Executive Gail K.
Ballooning Medicaid costs challenge health insurer Elevance
On Thursday, Elevance Health disclosed in its third quarter earnings release that its medical loss ratio — the amount of premium revenue it spent on medical care — was markedly higher than Wall Street analysts expected, sending its stock price into a tailspin.
Elevance Health Latest Insurer Battered By Higher Medical Costs
Elevance Health is the latest health insurance company to report higher-than-expected medical costs as third quarter profits tumbled more than 20%.
Medicaid drags Elevance Health as it misses on profit in Q3
Elevance Health fell short of Wall Street analysts' predictions, posting $1 billion in profit amid rising medical costs. | Elevance Health fell short of Wall Street analysts' predictions, posting $1 billion in profit amid rising medical costs.
Elevance Health slashes profit forecast on persistently high medical costs
Elevance Health cut its annual profit expectation on Thursday due to increased medical costs in its government-backed plans, becoming the latest U.S. insurer to take a hit from high demand for healthcare services.
Elevance Health points to Medicaid challenges in Q3 profit miss
Elevance Health (ELV) shares are sinking in Thursday trading after the health insurer missed on third quarter adjusted earnings estimates and trimmed its full-year guidance. The stock has fallen by 11% intraday as the company cites "unprecedented challenges in the Medicaid business.
Elevance shares plummet as its Medicaid business struggles
The results show a worsening outlook for health insurers that for years have relied on government programs for growth.
Elevance Health's Q3 Earnings Miss Due to Medicaid Redeterminations
ELV's third-quarter earnings are hurt by declining membership in Medicaid and Medicare, partially offset by improved product revenues.
Elevance Shares Dive After Insurer Faces ‘Unprecedented’ Medicaid Challenge
It was the latest sign of how medical expenses are squeezing insurers’ earnings, a result likely to punish shares across the sector.
Elevance Stock Dives on Guidance Cut. Blame ‘Unprecedented Challenges’ in Medicaid Business.
Shares of Elevance Health were trading sharply lower after a guidance cut prompted by snags in the Medicaid business overshadowed a quarterly revenue beat at the health insurance provider. Elevance Health stock fell 11% to $442 in premarket trading Thursday.
22m
on MSN
S&P 500 Gains and Losses Today: Health Insurers Slide as Elevance Cites Medicaid Declines
The S&P 500 was essentially flat on Thursday, Oct. 17, 2024, closing less than 0.1% lower despite strong retail sales data ...
The Herald Bulletin
56m
Elevance makes late cut to 2024 forecast
Elevance Health surprised Wall Street with a rare, late-year guidance cut Thursday after a jump in Medicaid costs marred its ...
Seeking Alpha
2h
Elevance Health: A Bad Q3 Was Almost Inevitable Given Industry Headwinds
Elevance
Health
's Q3 earnings report led to a 14% stock price drop due to increased benefit expense ratio and declining ...
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