Anthem (NASDAQ:ANTX) Rating Lowered to Sell at Wall Street Zen

Anthem (NASDAQ:ANTX) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

Several other equities research analysts also recently issued reports on the stock. Weiss Ratings began coverage on shares of Anthem in a research report on Tuesday, April 7th. They set a “sell (d-)” rating for the company. Leerink Partners upgraded shares of Anthem from a “market perform” rating to an “outperform” rating and set a $9.00 price objective for the company in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $9.00.

Anthem Stock Performance

Shares of NASDAQ:ANTX opened at $3.82 on Friday. Anthem has a 52-week low of $1.00 and a 52-week high of $6.91. The company has a market capitalization of $137.58 million, a P/E ratio of -3.47 and a beta of -0.98. The company has a 50-day simple moving average of $4.06 and a 200 day simple moving average of $2.48.

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

Institutional Investors Weigh In On Anthem

Hedge funds have recently bought and sold shares of the stock. ADAR1 Capital Management LLC acquired a new stake in Anthem during the first quarter worth approximately $47,000. OMERS ADMINISTRATION Corp acquired a new stake in Anthem during the first quarter worth approximately $54,000. Seven Fleet Capital Management LP acquired a new stake in Anthem during the first quarter worth approximately $683,000. Bank of America Corp DE lifted its position in Anthem by 2.2% during the first quarter. Bank of America Corp DE now owns 393,702 shares of the company’s stock worth $1,346,000 after acquiring an additional 8,390 shares during the last quarter. Finally, Ally Bridge Group NY LLC acquired a new stake in Anthem during the first quarter worth approximately $1,800,000. 90.47% of the stock is currently owned by institutional investors and hedge funds.

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.