Anthem (NASDAQ:ANTX) Coverage Initiated by Analysts at Guggenheim

Equities researchers at Guggenheim started coverage on shares of Anthem (NASDAQ:ANTX) in a research note issued on Monday,Benzinga reports. The firm set a “buy” rating and a $9.00 price target on the stock. Guggenheim’s target price would suggest a potential upside of 92.31% from the stock’s previous close.

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

Anthem Stock Performance

Shares of ANTX opened at $4.68 on Monday. The firm has a market cap of $168.57 million, a PE ratio of -4.25 and a beta of -0.99. The company’s 50 day simple moving average is $4.60 and its 200-day simple moving average is $3.25. Anthem has a 12-month low of $1.00 and a 12-month high of $6.91.

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

Institutional Investors Weigh In On Anthem

Several hedge funds have recently modified their holdings of the stock. ADAR1 Capital Management LLC acquired a new position in Anthem in the 1st quarter valued at $47,000. OMERS ADMINISTRATION Corp purchased a new position in Anthem during the 1st quarter worth $54,000. Seven Fleet Capital Management LP acquired a new stake in shares of Anthem in the 1st quarter worth $683,000. Bank of America Corp DE lifted its stake in shares of Anthem by 2.2% in the 1st 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 period. Finally, Ally Bridge Group NY LLC purchased a new stake in shares of Anthem in the first quarter valued at about $1,800,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Anthem Company Profile

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.