Health Insurer Elevance Health Stock Gains On Q3 Performance - Lower Medical Costs, Raised Outlook And More
Portfolio Pulse from Vandana Singh
Elevance Health Inc (NYSE:ELV) reported Q3 FY23 adjusted EPS of $8.99, up 20.5% Y/Y, beating the consensus of $8.45. Operating revenue was $42.50 billion, up 7.2% Y/Y, driven by higher premium revenue and pharmacy product revenue. The company also raised its 2023 guidance. However, ELV shares are down 2.75% in the premarket session.
October 18, 2023 | 12:48 pm
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Elevance Health reported strong Q3 results and raised its 2023 guidance, which could boost investor confidence. However, the stock is down in premarket trading.
Elevance Health's strong Q3 results and raised guidance indicate a positive outlook for the company. However, the stock's premarket decline suggests that the market may have already priced in these results or there may be other factors at play affecting the stock's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100