Anthem, Inc. (NYSE:ANTM) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday.
According to Zacks, “Anthem’s shares have outperformed the industry in the last year. The company’s diverse product portfolio has helped in improving underwriting results. Its strategic acquisitions, divestitures and ACO arrangements pave the way for long-term growth. Its rising level of medical membership continues to boost the top line. Its strong capital position backs effective capital deployment. Its frequent share buyback programs and regular dividend payments primarily aim at enhancing shareholders’ value. The company has seen the Zacks Consensus Estimate for 2017 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. However, loss incurred on public exchange business continues to bother. Also rising level of debt keeps draining the margins. It will release third quarter results on Oct 25, 2017 before the market opens.”
Several other equities research analysts have also recently issued reports on ANTM. Cantor Fitzgerald reissued a “buy” rating and issued a $215.00 price objective on shares of Anthem in a research report on Wednesday, September 20th. Piper Jaffray Companies reissued a “hold” rating and issued a $202.00 price objective on shares of Anthem in a research report on Wednesday, October 4th. Jefferies Group LLC reissued a “hold” rating and issued a $204.00 price objective on shares of Anthem in a research report on Sunday, August 20th. BidaskClub cut shares of Anthem from a “buy” rating to a “hold” rating in a research report on Friday, September 15th. Finally, Morgan Stanley boosted their price objective on shares of Anthem from $196.00 to $201.00 and gave the company an “equal weight” rating in a research report on Thursday, August 17th. Ten investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $187.89.
Anthem (ANTM) opened at 183.83 on Friday. Anthem has a 1-year low of $114.85 and a 1-year high of $198.98. The company has a market capitalization of $48.27 billion, a P/E ratio of 17.38 and a beta of 0.71. The company has a 50-day moving average of $189.79 and a 200-day moving average of $184.99.
Anthem (NYSE:ANTM) last released its quarterly earnings data on Wednesday, July 26th. The company reported $3.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.14. The company had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $22.25 billion. Anthem had a net margin of 3.24% and a return on equity of 12.93%. The firm’s quarterly revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company earned $3.33 EPS. Equities analysts expect that Anthem will post $11.84 EPS for the current fiscal year.
In related news, Director Julie A. Hill sold 524 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $190.80, for a total transaction of $99,979.20. Following the completion of the transaction, the director now owns 36,924 shares in the company, valued at approximately $7,045,099.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Swedish sold 21,125 shares of the business’s stock in a transaction that occurred on 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 transaction, the insider now owns 87,668 shares of the company’s stock, valued at approximately $17,270,596. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,901 shares of company stock valued at $10,034,202. 0.36% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. raised its stake in shares of Anthem by 0.5% during the 2nd quarter. C M Bidwell & Associates Ltd. now owns 1,070 shares of the company’s stock worth $201,000 after acquiring an additional 5 shares in the last quarter. Guardian Life Insurance Co. of America raised its stake in shares of Anthem by 0.7% during the 1st quarter. Guardian Life Insurance Co. of America now owns 1,016 shares of the company’s stock worth $168,000 after acquiring an additional 7 shares in the last quarter. Salem Investment Counselors Inc. raised its stake in shares of Anthem by 1.4% during the 2nd quarter. Salem Investment Counselors Inc. now owns 710 shares of the company’s stock worth $134,000 after acquiring an additional 10 shares in the last quarter. Sii Investments Inc. WI raised its stake in shares of Anthem by 0.4% during the 1st quarter. Sii Investments Inc. WI now owns 2,713 shares of the company’s stock worth $444,000 after acquiring an additional 12 shares in the last quarter. Finally, Cedar Wealth Management LLC raised its stake in shares of Anthem by 1.7% during the 2nd quarter. Cedar Wealth Management LLC now owns 908 shares of the company’s stock worth $171,000 after acquiring an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 87.65% of the company’s stock.
Anthem Company Profile
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.