Anthem (ANTM) Upgraded by Jefferies Group to Buy

Anthem (NYSE:ANTM) was upgraded by equities researchers at Jefferies Group from a “hold” rating to a “buy” rating in a report issued on Friday, Marketbeat Ratings reports. The brokerage currently has a $211.00 price target on the stock, down from their previous price target of $235.00. Jefferies Group’s price objective would indicate a potential downside of 12.02% from the stock’s current price. Jefferies Group also issued estimates for Anthem’s Q3 2018 earnings at $3.25 EPS and Q4 2018 earnings at $1.85 EPS.

A number of other research analysts have also recently weighed in on ANTM. BMO Capital Markets initiated coverage on shares of Anthem in a research note on Monday, October 16th. They set a “market perform” rating for the company. Cantor Fitzgerald reissued a “buy” rating and set a $215.00 price objective on shares of Anthem in a research note on Wednesday, September 20th. Royal Bank of Canada reissued a “buy” rating on shares of Anthem in a research note on Thursday, January 4th. ValuEngine raised shares of Anthem from a “hold” rating to a “buy” rating in a research note on Sunday, December 31st. Finally, Piper Jaffray Companies raised shares of Anthem from a “neutral” rating to an “overweight” rating and set a $151.00 price objective for the company in a research note on Wednesday, January 3rd. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Anthem has an average rating of “Buy” and an average price target of $205.60.

Anthem (ANTM) opened at $239.82 on Friday. Anthem has a 1-year low of $144.34 and a 1-year high of $240.40. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.51 and a quick ratio of 1.51. The stock has a market cap of $61,576.19, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.72 and a beta of 0.79.

Anthem (NYSE:ANTM) last issued its earnings results on Wednesday, October 25th. The company reported $2.65 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.40 by $0.25. Anthem had a net margin of 3.35% and a return on equity of 12.97%. The company had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $22.10 billion. During the same period last year, the company posted $2.45 earnings per share. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. equities research analysts anticipate that Anthem will post 11.97 EPS for the current year.

Anthem announced that its board has approved a stock buyback program on Thursday, December 7th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

In other Anthem news, insider Joseph Swedish sold 21,125 shares of Anthem stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $209.85, for a total value of $4,433,081.25. Following the completion of the sale, the insider now directly owns 87,668 shares of the company’s stock, valued at approximately $18,397,129.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gloria M. Mccarthy sold 14,429 shares of Anthem stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $229.68, for a total transaction of $3,314,052.72. Following the completion of the sale, the executive vice president now directly owns 30,667 shares of the company’s stock, valued at $7,043,596.56. The disclosure for this sale can be found here. Insiders sold a total of 59,259 shares of company stock valued at $13,194,281 over the last ninety days. 0.36% of the stock is owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in ANTM. Nisa Investment Advisors LLC boosted its holdings in shares of Anthem by 0.3% in the 4th quarter. Nisa Investment Advisors LLC now owns 127,567 shares of the company’s stock valued at $28,704,000 after purchasing an additional 332 shares during the last quarter. Daiwa SB Investments Ltd. boosted its holdings in shares of Anthem by 10.7% in the 4th quarter. Daiwa SB Investments Ltd. now owns 6,390 shares of the company’s stock valued at $1,438,000 after purchasing an additional 620 shares during the last quarter. Acropolis Investment Management LLC boosted its holdings in shares of Anthem by 48.5% in the 4th quarter. Acropolis Investment Management LLC now owns 7,157 shares of the company’s stock valued at $1,610,000 after purchasing an additional 2,336 shares during the last quarter. Oak Point Wealth Management acquired a new position in shares of Anthem in the 4th quarter valued at $763,000. Finally, QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of Anthem in the 4th quarter valued at $878,000. 87.41% of the stock is owned by hedge funds and other institutional investors.

COPYRIGHT VIOLATION WARNING: This piece was published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece on another website, it was illegally copied and reposted in violation of international trademark & copyright legislation. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2018/01/14/anthem-antm-upgraded-by-jefferies-group-to-buy.html.

About Anthem

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.

Analyst Recommendations for Anthem (NYSE:ANTM)

Leave a Reply