Lombard Odier Asset Management Switzerland SA Buys New Position in Elevance Health, Inc. $ELV

Lombard Odier Asset Management Switzerland SA purchased a new position in Elevance Health, Inc. (NYSE:ELV) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,219 shares of the company’s stock, valued at approximately $1,235,000.

Other large investors also recently bought and sold shares of the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Elevance Health during the fourth quarter worth about $31,000. J.Safra Asset Management Corp purchased a new position in Elevance Health in the fourth quarter valued at about $32,000. WealthCollab LLC boosted its holdings in Elevance Health by 42.2% in the first quarter. WealthCollab LLC now owns 91 shares of the company’s stock valued at $27,000 after purchasing an additional 27 shares during the last quarter. ORG Partners LLC grew its stake in Elevance Health by 120.4% during the 4th quarter. ORG Partners LLC now owns 108 shares of the company’s stock valued at $38,000 after purchasing an additional 59 shares in the last quarter. Finally, Dorato Capital Management acquired a new stake in Elevance Health during the 4th quarter valued at approximately $41,000. Institutional investors and hedge funds own 89.24% of the company’s stock.

Elevance Health Stock Performance

ELV stock opened at $378.17 on Tuesday. The stock’s 50 day simple moving average is $398.39 and its 200 day simple moving average is $356.51. Elevance Health, Inc. has a 12-month low of $273.71 and a 12-month high of $436.24. The firm has a market cap of $82.01 billion, a P/E ratio of 16.81, a P/E/G ratio of 2.17 and a beta of 0.67. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 0.68.

Elevance Health (NYSE:ELV) last announced its quarterly earnings data on Wednesday, July 15th. The company reported $7.45 earnings per share for the quarter, beating analysts’ consensus estimates of $6.21 by $1.24. Elevance Health had a net margin of 2.47% and a return on equity of 14.64%. The business had revenue of $49.83 billion during the quarter, compared to the consensus estimate of $48.88 billion. During the same quarter in the prior year, the firm earned $8.84 EPS. The company’s revenue for the quarter was up .8% compared to the same quarter last year. As a group, equities research analysts predict that Elevance Health, Inc. will post 27.04 EPS for the current year.

Elevance Health Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Thursday, September 10th will be given a $1.72 dividend. This represents a $6.88 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Thursday, September 10th. Elevance Health’s dividend payout ratio is currently 30.58%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ELV shares. Citigroup raised Elevance Health to a “buy” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price target on shares of Elevance Health from $411.00 to $476.00 and gave the stock an “overweight” rating in a research note on Monday, June 8th. TD Cowen upped their price target on shares of Elevance Health from $400.00 to $465.00 and gave the company a “buy” rating in a report on Tuesday, July 14th. Bank of America increased their price objective on shares of Elevance Health from $435.00 to $460.00 and gave the company a “buy” rating in a research note on Thursday, June 4th. Finally, Weiss Ratings raised shares of Elevance Health from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, May 18th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $440.90.

Insider Activity at Elevance Health

In related news, Director Robert L. Dixon, Jr. sold 151 shares of the firm’s stock in a transaction that occurred on Thursday, June 11th. The shares were sold at an average price of $401.77, for a total transaction of $60,667.27. Following the transaction, the director owned 10,734 shares in the company, valued at $4,312,599.18. This trade represents a 1.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.34% of the stock is owned by corporate insiders.

Elevance Health Profile

Elevance Health, Inc (NYSE: ELV) is a large U.S.-based health benefits company that provides a broad range of health insurance products and related services. Headquartered in Indianapolis, the company rebranded from Anthem, Inc to Elevance Health in 2022 while continuing to operate consumer-facing health plans under established state and national brands. Gail Boudreaux serves as chief executive officer and president, leading the company’s strategic focus on integrated health care and benefit delivery.

Elevance’s core activities include offering medical and specialty health plans for individuals, employers and government programs, including Medicare and Medicaid managed-care products.