Banque Cantonale Vaudoise Purchases 3,788 Shares of Elevance Health, Inc. (NYSE:ELV)

Banque Cantonale Vaudoise raised its stake in Elevance Health, Inc. (NYSE:ELV) by 32.7% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 15,384 shares of the company’s stock after acquiring an additional 3,788 shares during the period. Banque Cantonale Vaudoise’s holdings in Elevance Health were worth $8,000,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Bank & Trust Co purchased a new stake in Elevance Health in the second quarter worth about $27,000. PSI Advisors LLC purchased a new stake in Elevance Health in the third quarter worth about $27,000. Opal Wealth Advisors LLC bought a new stake in shares of Elevance Health during the 2nd quarter valued at $28,000. Strategic Financial Concepts LLC bought a new stake in Elevance Health during the 2nd quarter valued at approximately $30,000. Finally, Eastern Bank bought a new stake in Elevance Health in the 3rd quarter valued at $31,000. 89.24% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ELV has been the topic of several recent research reports. Truist Financial restated a “buy” rating and set a $520.00 target price (down from $620.00) on shares of Elevance Health in a research report on Friday, October 18th. Argus lowered shares of Elevance Health from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Wells Fargo & Company reduced their target price on Elevance Health from $593.00 to $495.00 and set an “overweight” rating on the stock in a research report on Monday, November 4th. Mizuho decreased their price objective on shares of Elevance Health from $585.00 to $505.00 and set an “outperform” rating for the company in a research report on Tuesday, November 5th. Finally, Royal Bank of Canada lowered their price objective on shares of Elevance Health from $585.00 to $478.00 and set an “outperform” rating for the company in a research note on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $539.20.

Elevance Health Stock Performance

ELV stock opened at $400.69 on Tuesday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 0.56. Elevance Health, Inc. has a 52-week low of $397.92 and a 52-week high of $567.26. The company’s 50-day simple moving average is $472.43 and its 200-day simple moving average is $512.56. The firm has a market cap of $92.93 billion, a P/E ratio of 14.61, a PEG ratio of 1.19 and a beta of 0.85.

Elevance Health (NYSE:ELV) last issued its quarterly earnings data on Thursday, October 17th. The company reported $8.37 EPS for the quarter, missing the consensus estimate of $9.66 by ($1.29). Elevance Health had a net margin of 3.68% and a return on equity of 19.56%. The business had revenue of $44.72 billion during the quarter, compared to analyst estimates of $43.47 billion. During the same period in the previous year, the business posted $8.99 earnings per share. The firm’s revenue for the quarter was up 5.3% on a year-over-year basis. As a group, equities analysts forecast that Elevance Health, Inc. will post 32.96 EPS for the current fiscal year.

Elevance Health Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Thursday, December 5th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Thursday, December 5th. Elevance Health’s dividend payout ratio is presently 23.77%.

Insider Buying and Selling

In other news, EVP Charles Morgan Kendrick, Jr. sold 7,417 shares of the company’s stock in a transaction that occurred on Friday, October 18th. The stock was sold at an average price of $432.14, for a total value of $3,205,182.38. Following the completion of the sale, the executive vice president now directly owns 8,423 shares in the company, valued at $3,639,915.22. This represents a 46.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.29% of the stock is currently owned by insiders.

Elevance Health Profile

Elevance Health, Inc, together with its subsidiaries, operates as a health benefits company in the United States. The company operates through four segments: Health Benefits, CarelonRx, Carelon Services, and Corporate & Other. It offers a variety of health plans and services to program members; health products; an array of fee-based administrative managed care services; and specialty and other insurance products and services, such as stop loss, dental, vision, life, disability, and supplemental health insurance benefits.