Welcome to our dedicated page for Elevance Health news (Ticker: ELV), a resource for investors and traders seeking the latest updates and insights on Elevance Health stock.
Elevance Health, Inc. (symbol: ELV) is a prominent American health insurance provider, formerly known as Anthem, Inc. until June 2022. As one of the leading health insurers in the United States, Elevance Health delivers medical benefits to approximately 47 million members as of December 2023. The company’s core business revolves around offering a wide range of coverage plans, including employer, individual, and government-sponsored options.
One distinctive feature of Elevance Health is its status as the largest single provider of Blue Cross Blue Shield branded coverage. As the licensee for the Blue Cross Blue Shield Association in 14 states, the company serves a significant portion of the U.S. population. Elevance Health has successfully expanded its offerings through strategic acquisitions, such as the purchase of Amerigroup in 2012 and MMM in 2021. These acquisitions enable the company to broaden its reach and better serve populations enrolled in government-sponsored programs like Medicaid and Medicare Advantage plans.
Elevance Health is committed to improving healthcare accessibility and affordability. The company consistently works on enhancing its services and products to meet the evolving needs of its members. Financially, Elevance Health has maintained a strong position, reflecting robust performance and growth potential.
Recent achievements include the expansion of digital health initiatives and partnerships with healthcare providers to offer more integrated and comprehensive care solutions. With its extensive network and innovative approach, Elevance Health continues to make significant strides in the healthcare industry.
Stay updated with the latest news and developments related to Elevance Health to understand its impact and future direction in the health insurance market.
AM Best has affirmed the Financial Strength Rating (FSR) of A (Excellent) and various credit ratings for Elevance Health Inc. (NYSE: ELV) and its subsidiaries. The outlook for all ratings remains stable. The affirmations reflect Anthem Health's very strong balance sheet, strong operating performance, and favorable business profile.
Key highlights include a 5-year compound annual capital growth rate of 8%, outpacing premium growth of 6.8%. The company maintains a conservative investment portfolio and sound liquidity with access to $4 billion in credit facilities. Financial leverage increased to 42% due to recent debt issuance but is expected to return to the 40% range by 2025.
Despite challenges in Medicaid membership due to state redeterminations, Elevance maintains strong profitability ratios and operates BCBS plans in 14 states with significant market presence.
Elevance Health (NYSE: ELV) has announced its senior management will present at the UBS Global Healthcare Conference in Rancho Palos Verdes, California. The presentation is scheduled for November 12 at 7:15 a.m. PST (10:15 a.m. EST). A live webcast will be available on the company's website, with a replay accessible for 90 days following the presentation. Interested parties are advised to visit www.elevancehealth.com at least 15 minutes before the presentation to install necessary audio software.
Elevance Health (NYSE: ELV) has appointed Nathan Rich as Vice President of Investor Relations, effective November 11, 2024. Rich will lead the company's investor relations efforts and join the executive leadership team, reporting to CFO Mark Kaye. He succeeds Stephen Tanal, who transitions to CFO of Elevance Health's Government Health Benefits business. Rich brings nearly two decades of experience, previously serving as VP in Global Investment Research at Goldman Sachs and as a sell-side research analyst at Citi.
Adam Herbst has joined Sheppard Mullin as a healthcare partner in New York, becoming the ninth healthcare partner to join in 2024. Previously serving as New York State Department of Health's Deputy Commissioner for Aging and Long Term Care, Herbst brings expertise in healthcare policy, Medicaid reform, and corporate governance. His experience includes overseeing regulation for New York's acute care, post-acute care, disability, and long-term care industries. The firm highlights its active long-term care practice, citing recent major transactions including a strategic partnership with Elevance Health and various joint ventures in the healthcare sector.
Elevance Health (NYSE: ELV) reported third quarter 2024 results with operating revenue of $44.7 billion, a $2.2 billion increase from the prior year. The company's adjusted operating gain was $2.4 billion, with diluted EPS of $4.36 and adjusted diluted EPS of $8.37. Elevance Health revised its 2024 outlook, now expecting GAAP net income per diluted share to be approximately $26.50 and adjusted net income per diluted share to be approximately $33.00.
The benefit expense ratio increased to 89.5%, up 270 basis points, primarily due to a timing mismatch between Medicaid rates and higher member acuity. The operating expense ratio improved to 11.8%, or 9.6% excluding adjustment items. The company's Health Benefits segment saw operating revenue increase to $38.3 billion, while Carelon's operating revenue grew to $13.8 billion. Elevance Health declared a fourth quarter 2024 dividend of $1.63 per share.
Elevance Health (NYSE: ELV) has announced its plans to release third quarter 2024 financial results on October 17, 2024, at 6:00 a.m. EDT. The company will host a conference call at 8:30 a.m. EDT on the same day to discuss the results and outlook. Investors can access the call using specific domestic and international numbers with an access code. A replay will be available from 11:30 a.m. EDT on October 17, 2024, until November 16, 2024. Additionally, a live webcast of the call will be accessible through the company's website under the "Investors" link, with a replay available afterwards.
Elevance Health and its Elevance Health Foundation are providing $500,000 in new grant funding to support communities affected by Hurricane Helene. This funding will help community-based organizations address critical needs such as access to food, shelter, hygiene kits, and recovery supplies.
In addition to this pledge, the Foundation has preemptively provided funding to several disaster-relief organizations:
- $1 million to the American Red Cross
- $300,000 to Team Rubicon
- $250,000 to Americares
- $100,000 to Direct Relief
Elevance Health is also matching employee donations to disaster relief efforts and making it easier for members to refill prescriptions and access healthcare services during the crisis.
Elevance Health (NYSE: ELV) has introduced the Whole Health Index (WHI), a groundbreaking tool for assessing individual and community health. Developed by Elevance Health's physicians, data scientists, and researchers, the WHI uses a 0-100 scale to evaluate health over time, considering physical, behavioral, and social factors.
The WHI incorporates over 90 data points across various health categories, including food insecurity, transportation accessibility, housing instability, preventative dental exams, immunizations, and mental health treatment. Elevance Health has begun providing access to WHI data for employer health plan members in Missouri and Virginia, with information available at the county level and always de-identified.
Elevance Health, in partnership with the Impact Fitness Foundation (IFF), has provided Irvington Preparatory Academy with its first-ever weight room and fitness space. This initiative is part of Elevance Health's commitment to improving health equity and social justice. The new facility eliminates the need for staff to drive students to public fitness centers for sports and physical education training.
The transformation included converting a storage room into a state-of-the-art training facility with new equipment for functional movement. Volunteers from Elevance Health and Indiana Fever players participated in the renovation. Following the unveiling, students and coaches attended a training clinic with IFF athletic trainers and Indiana Fever players to familiarize themselves with the new facility.
Elevance Health (NYSE: ELV) reported its Q2 2024 results, with operating revenue of $43.2 billion and adjusted operating gain of $2.8 billion. The company's diluted EPS increased by 26% to $9.85, while adjusted diluted EPS rose 12% to $10.12. Elevance Health declared a Q3 2024 dividend of $1.63 per share.
The benefit expense ratio improved to 86.3%, while the operating expense ratio increased to 11.7%. The company maintains its full-year outlook, expecting GAAP net income per diluted share to be at least $34.05 and adjusted diluted net income per share to be at least $37.20 in 2024.
Elevance Health's Health Benefits segment saw a 2% decrease in operating revenue, while Carelon segment's operating revenue increased by 10% compared to the prior year quarter.
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