Elevance rises after positive Q3 comments

Shares of health insurer Elevance (ELV.N) rose 3.7% to $409.65 after the company, at an investor conference, “provided relatively upbeat commentary, indicating that, based on July and August trends, Q3 performance was tracking ahead of the expectations set at Q2 earnings,” J.P. Morgan analysts said.

ELV reaffirmed its full-year adjusted profit forecast of at least $27 per share and expects a 2026 medical cost ratio of 90.2% plus or minus 50 basis points.

Medicare Advantage continues to track to 2%+ margins in 2026, while Medicaid and Obamacare plans also appear to be ahead of expectations, JPM said, citing ELV.

“We think this update helps frame a case for upside into the second half if the favorable trends persist through the remainder of 2026, setting the stage for a return to 12%+ growth off the baseline growth rate,” JPM said.

Including the session's moves, ELV was up 17.6% year to date.