Zacks Investment Research Upgrades Anthem, Inc. (ANTM) to Buy
Anthem, Inc. (NYSE:ANTM) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Wednesday. The brokerage currently has a $221.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 14.01% from the stock’s current price.
According to Zacks, “Anthem’s shares have outperformed the industry in last one year. The company’s diverse product portfolio has helped in improving underwriting results. Anthem’s strategic acquisitions, divestitures and ACO arrangements further pave the way for long-term growth. Its rising level of medical membership continues to boost the top line. The company’s strong capital position backs effective capital deployment. Its frequent share buyback programs and regular dividend payments primarily aim at enhancing shareholders’ value. The stock has seen the Zacks Consensus Estimate for 2017 and 2018 earnings being revised upward over the last 60 days. Followed by strong results in first half of 2017, the company has raised the earnings and revenue guidance for 2017.”
Several other analysts have also issued reports on ANTM. Jefferies Group LLC restated a “hold” rating and issued a $204.00 target price on shares of Anthem in a research note on Sunday, August 20th. Morgan Stanley boosted their target price on Anthem from $196.00 to $201.00 and gave the company an “equal weight” rating in a research note on Thursday, August 17th. Cantor Fitzgerald restated an “overweight” rating and issued a $215.00 target price (up from $210.00) on shares of Anthem in a research note on Wednesday, July 26th. BidaskClub lowered Anthem from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG boosted their target price on Anthem from $173.00 to $185.00 and gave the company a “hold” rating in a research note on Thursday, July 13th. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $183.94.
Shares of Anthem (NYSE:ANTM) traded up 0.63% on Wednesday, reaching $193.85. The company’s stock had a trading volume of 1,254,615 shares. The stock has a market cap of $50.90 billion, a P/E ratio of 18.33 and a beta of 0.70. The firm’s 50 day moving average is $191.60 and its 200-day moving average is $180.85. Anthem has a 52-week low of $114.85 and a 52-week high of $198.98.
Anthem (NYSE:ANTM) last issued its earnings results on Wednesday, July 26th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $3.23 by $0.14. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $22.25 billion. Anthem had a return on equity of 12.93% and a net margin of 3.24%. The business’s revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $3.33 earnings per share. On average, equities research analysts forecast that Anthem will post $11.83 EPS for the current year.
In related news, insider Joseph Swedish sold 21,125 shares of the business’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $197.00, for a total transaction of $4,161,625.00. Following the completion of the transaction, the insider now directly owns 87,668 shares in the company, valued at $17,270,596. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Julie A. Hill sold 524 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $190.80, for a total value of $99,979.20. Following the transaction, the director now owns 36,924 shares of the company’s stock, valued at $7,045,099.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 30,776 shares of company stock valued at $6,007,143. 0.36% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of ANTM. BlackRock Inc. grew its position in Anthem by 2,873.5% during the first quarter. BlackRock Inc. now owns 22,676,945 shares of the company’s stock worth $3,750,316,000 after buying an additional 21,914,321 shares in the last quarter. Boston Partners grew its position in Anthem by 112.6% during the first quarter. Boston Partners now owns 3,895,863 shares of the company’s stock worth $644,298,000 after buying an additional 2,063,562 shares in the last quarter. Wellington Management Group LLP grew its position in Anthem by 53.5% during the first quarter. Wellington Management Group LLP now owns 4,443,160 shares of the company’s stock worth $734,810,000 after buying an additional 1,548,077 shares in the last quarter. OZ Management LP purchased a new position in Anthem during the first quarter worth about $192,493,000. Finally, Janus Henderson Group PLC grew its position in Anthem by 2,835.4% during the second quarter. Janus Henderson Group PLC now owns 1,161,736 shares of the company’s stock worth $218,554,000 after buying an additional 1,122,159 shares in the last quarter. Institutional investors and hedge funds own 87.69% of the company’s stock.
Anthem, Inc is a health benefits company. The Company operates through three segments: Commercial and Specialty Business, Government Business and Other. It offers a spectrum of network-based managed care plans to large and small employer, individual, Medicaid and Medicare markets. Its managed care plans include preferred provider organizations; health maintenance organizations; point-of-service plans; indemnity plans and other hybrid plans, including consumer-driven health plans; and hospital only and limited benefit products.
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