Anthem (ANTM) Rating Reiterated by Cantor Fitzgerald
Cantor Fitzgerald reaffirmed their buy rating on shares of Anthem (NYSE:ANTM) in a research note issued to investors on Monday morning, Marketbeat Ratings reports. Cantor Fitzgerald currently has a $330.00 price objective on the stock, up from their prior price objective of $305.00.
“. We reiterate our Overweight rating on Anthem shares and increase our price target to $330 from $305. We recently hosted an investor trip to Anthem’s headquarters in Indianapolis with senior management. During our meetings, management stressed that it will use $3.2 billion from its PBM savings beginning in 2020 and 2021 to drive membership growth in subsequent years. Accordingly, we have increased our top-line growth assumptions in our DCF model, which drove our price target higher. Importantly, we expect membership and revenue to grow faster without sacrificing margins. We remind investors that our model had already assumed $800 million of savings in 2020 and 2021.”,” the firm’s analyst wrote.
A number of other analysts also recently issued reports on the company. Jefferies Financial Group raised their target price on Anthem from $323.00 to $345.00 and gave the stock a buy rating in a research report on Monday. Citigroup raised their target price on Anthem from $290.00 to $292.00 and gave the stock a neutral rating in a research report on Tuesday, November 6th. Royal Bank of Canada raised their target price on Anthem to $318.00 and gave the stock an outperform rating in a research report on Thursday, November 1st. SunTrust Banks raised their target price on Anthem to $315.00 and gave the stock a hold rating in a research report on Thursday, November 1st. Finally, Morgan Stanley raised their target price on Anthem from $368.00 to $372.00 and gave the stock an overweight rating in a research report on Thursday, November 1st. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $300.33.
Anthem (NYSE:ANTM) last released its earnings results on Wednesday, October 31st. The company reported $3.81 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $3.70 by $0.11. Anthem had a return on equity of 13.99% and a net margin of 4.98%. The business had revenue of $22.98 billion during the quarter, compared to the consensus estimate of $22.85 billion. During the same period last year, the business posted $2.65 earnings per share. The business’s revenue for the quarter was up 4.0% on a year-over-year basis. On average, equities research analysts predict that Anthem will post 15.66 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Wednesday, December 5th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Tuesday, December 4th. Anthem’s payout ratio is currently 24.92%.
In other news, EVP Thomas C. Zielinski sold 7,826 shares of the firm’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $289.71, for a total value of $2,267,270.46. Following the completion of the transaction, the executive vice president now directly owns 29,466 shares of the company’s stock, valued at $8,536,594.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Peter D. Haytaian sold 4,500 shares of Anthem stock in a transaction on Tuesday, November 27th. The shares were sold at an average price of $278.48, for a total value of $1,253,160.00. Following the sale, the executive vice president now directly owns 47,006 shares of the company’s stock, valued at approximately $13,090,230.88. The disclosure for this sale can be found here. Insiders sold 20,826 shares of company stock valued at $5,815,620 over the last ninety days. Corporate insiders own 0.31% of the company’s stock.
A number of large investors have recently bought and sold shares of the stock. Marshall Wace North America L.P. boosted its stake in Anthem by 160.4% during the third quarter. Marshall Wace North America L.P. now owns 24,762 shares of the company’s stock valued at $6,786,000 after buying an additional 15,253 shares during the period. Strategic Wealth Partners Ltd. boosted its stake in Anthem by 13.7% during the third quarter. Strategic Wealth Partners Ltd. now owns 4,264 shares of the company’s stock valued at $1,169,000 after buying an additional 513 shares during the period. Great Lakes Advisors LLC boosted its stake in Anthem by 53.2% during the third quarter. Great Lakes Advisors LLC now owns 55,944 shares of the company’s stock valued at $15,331,000 after buying an additional 19,423 shares during the period. Vanguard Group Inc. boosted its stake in Anthem by 2.9% during the third quarter. Vanguard Group Inc. now owns 18,729,474 shares of the company’s stock valued at $5,132,811,000 after buying an additional 532,579 shares during the period. Finally, Morgan Stanley boosted its stake in Anthem by 65.9% during the third quarter. Morgan Stanley now owns 676,812 shares of the company’s stock valued at $185,481,000 after buying an additional 268,900 shares during the period. 87.12% of the stock is owned by institutional investors.
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.
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