Wednesday, Elevance Health Inc. (NYSE:ELV) reported second-quarter revenues of $43.2 billion, down 0.4% year-over-year, marginally above the consensus of $43.05 billion.  The decrease was driven by attrition in Medicaid membership, partially offset by higher premium yields reflecting the medical cost trend. In the second quarter, UnitedHealth Group Inc (NYSE:UNH) and Elevance Health reported increasing pressure on Medicaid, creating uncertainty about when Medicaid margins will bottom out and when a potential recovery might occur. Centene Inc. (NYSE:CNC), Cigna Corp (NYSE:CI), and Molina Healthcare Inc. (NYSE:MOH) are trading at a 3x lower valuation than Elevance Health. While Elevance Health’s diversification and quality ...