ELV Elevance Health Inc

$ELV Elevance reports Q3 Wednesday before the open. Zacks consensus is 4.66 dollars EPS on 48.60 billion dollars revenue, down 22.7% and 3% YoY. Zacks models the Q3 benefit expense ratio at 91.4%, well above the 90.2% full-year guide, plus or minus 50bp, that the company reaffirmed on Sept 10, alongside adjusted EPS of at least 27 dollars. Membership is modeled smaller too, 44.26 million vs 45.37 million a year ago, with Medicare Advantage at 1.86 million vs 2.25 million.

Elevance Health shares could move 6.8% following the company’s third-quarter earnings report on October 21, scheduled before the market opens, according to Bloomberg options data. The health insurer has exceeded the options-implied move in four of its last eight earnings announcements, highlighting the potential for significant volatility around the upcoming results. Recent trading reactions have been mixed. On July 15, shares fell 6.8%, exceeding the options-implied decline of 5.6%, while in April the stock gained 4.7% compared with an expected move of 6.2%. On January 28, shares dropped 6.9%, surpassing the implied 6.2% move. Previous reports have also triggered sharp price swings. In July 2025, Elevance plunged 12.7% against an expected 5.7% move, while in October 2024 it fell 10% compared with an implied 5% decline. By contrast, shares gained 3.1% in January 2025 against an expected 6.7% move and declined just 0.5% in October 2025 despite options pricing in a 7.7% move. $ELV

$ELV heads up: Anthem's $3.625M proton beam therapy settlement (over alleged denials of prostate cancer coverage) is final-approved. Identified class members must mail claim forms postmarked by Oct 10. Open Class Actions.