Elevance Health falls after cautious comments on Medicaid margins

Shares of Elevance Health (ELV) are moving lower after the company presented at the Wells Fargo Healthcare Conference. Management said regarding its Medicaid, “Our operating margin performance is expected to be softer than the outlook that we provided in July. We no longer expect sequential operating margin improvement in the second half of the year.” The company added, “We do expect the misalignment of rates with acuity to persist in the near term.” Shares of Elevance Health are down 3% to $311.76 in morning trading.