Anthem (NASDAQ:ANTX) Coverage Initiated at Guggenheim

Stock analysts at Guggenheim assumed coverage on shares of Anthem (NASDAQ:ANTX) in a research report issued to clients and investors on Monday, Marketbeat reports. The firm set a “buy” rating and a $9.00 price target on the stock. Guggenheim’s target price indicates a potential upside of 80.00% from the stock’s current price.

Several other equities analysts have also recently weighed in on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anthem in a research note on Monday, July 6th. Wall Street Zen upgraded shares of Anthem from a “sell” rating to a “hold” rating in a report on Sunday, June 14th. Finally, Leerink Partners upgraded shares of Anthem from a “market perform” rating to an “outperform” rating and set a $9.00 target price for the company in a report on Thursday, May 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $9.00.

Anthem Stock Performance

NASDAQ:ANTX opened at $5.00 on Monday. The company has a market cap of $180.10 million, a PE ratio of -4.55 and a beta of -0.99. Anthem has a 52-week low of $1.00 and a 52-week high of $6.91. The stock has a 50-day simple moving average of $4.62 and a 200 day simple moving average of $3.30.

Anthem (NASDAQ:ANTX) last announced its earnings results on Monday, May 11th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.06).

Hedge Funds Weigh In On Anthem

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ANTX. OMERS ADMINISTRATION Corp bought a new position in shares of Anthem in the first quarter valued at about $54,000. Bank of America Corp DE lifted its stake in shares of Anthem by 2.2% during the 1st quarter. Bank of America Corp DE now owns 393,702 shares of the company’s stock worth $1,346,000 after buying an additional 8,390 shares during the last quarter. Seven Fleet Capital Management LP bought a new stake in shares of Anthem during the 1st quarter worth about $683,000. Vivo Capital LLC bought a new stake in shares of Anthem during the 1st quarter worth about $10,785,000. Finally, ADAR1 Capital Management LLC acquired a new position in Anthem in the 1st quarter valued at about $47,000. 90.47% of the stock is owned by institutional investors.

About Anthem

Anthem, Inc, through its subsidiaries, operates as a health benefits company in the United States. It operates through three segments: Commercial & Specialty Business, Government Business, and Other. The company offers a spectrum of network-based managed care health benefit plans to large and small group, individual, Medicaid, and Medicare markets. Its managed care plans include preferred provider organizations; health maintenance organizations; point-of-service plans; traditional indemnity plans and other hybrid plans, such as consumer-driven health plans; and hospital only and limited benefit products.