Healthcare Facilities & Managed Care "6/10/26 Investor Conference Recap:..."

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Healthcare Facilities & Managed Care "6/10/26 Investor Conference Recap:..."

Global Research

10 June 2026ab

Healthcare Facilities & Managed Care Equities

Americas6/10/26 Investor Conference Recap: ELV & ARDT

Healthcare Providers

AJ Rice

This week, some companies in our coverage are attending investor conferences. On Analyst

Wednesday, June 10th, Elevance Health (ELV) and Ardent Health (ARDT) presented. We aj.rice@ubs.com

offer some of our key takeaways and notes below. +1-212-713 4299

Jonathan Yong

ELV: Businesses Tracking In-line to Slightly Better Analyst

ELV commented that utilization trends through April and May are reinforcing the jonathan.yong@ubs.com

company's confidence in its earnings outlook. With that, the company noted MA is +1-212-713 6268

running favorable to expectations. The company continues to expect 2% margins in James Kurek

2026 and 3-5% LT. In the ACA, the business is tracking slightly favorable to expectations Analyst

with enrollment for the quarter expected to end at 1.2 mln (900k by YE). In Medicaid, james.kurek@ubs.com

cost trends remain elevated, but as expected. Medicaid rates are coming in as expected +1-212-713 3704

with 40% of rates renewing in July, although management noted rates still are not Michael Wei

where they need to be. Some 20% of the Medicaid book relates to the expansion Associate Analyst

population and the company is waiting to hear from state partners regarding work michael.wei@ubs.com

requirements given some of the flexibilities states have. On Commercial, management +1-212-713 2565

called out a strong pipeline of over 2 mln members and has had nice wins thus far. On Joseph Overman

Carelon, the company noted the earnings contribution from this business will become Associate Analyst

more clear over time.