B. Riley Reiterates “Buy” Rating for Anthem (ANTM)
B. Riley reaffirmed their buy rating on shares of Anthem (NYSE:ANTM) in a report issued on Wednesday morning, MarketBeat Ratings reports.
A number of other equities analysts have also weighed in on ANTM. Cantor Fitzgerald reaffirmed a buy rating and issued a $215.00 price objective on shares of Anthem in a research note on Wednesday, September 20th. BMO Capital Markets assumed coverage on Anthem in a research note on Monday, October 16th. They issued a market perform rating for the company. Jefferies Group reaffirmed a hold rating and issued a $204.00 price objective on shares of Anthem in a research note on Sunday, August 20th. Piper Jaffray Companies reaffirmed a hold rating and issued a $202.00 price objective on shares of Anthem in a research note on Wednesday, October 4th. Finally, BidaskClub lowered Anthem from a buy rating to a hold rating in a research note on Friday, September 15th. Eight research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of Buy and an average target price of $201.07.
Shares of Anthem (ANTM) opened at $224.85 on Wednesday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.51 and a quick ratio of 1.51. The company has a market capitalization of $57,732.49, a PE ratio of 18.05, a price-to-earnings-growth ratio of 1.76 and a beta of 0.79. Anthem has a 1 year low of $140.50 and a 1 year high of $236.39.
Anthem (NYSE:ANTM) last released its quarterly earnings data on Wednesday, October 25th. The company reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.40 by $0.25. The firm had revenue of $22.10 billion during the quarter, compared to analyst estimates of $22.10 billion. Anthem had a return on equity of 12.97% and a net margin of 3.35%. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.45 earnings per share. sell-side analysts expect that Anthem will post 11.97 EPS for the current year.
Anthem declared that its Board of Directors has approved a share repurchase plan on Thursday, December 7th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s management believes its shares are undervalued.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 21st. Investors of record on Tuesday, December 5th will be paid a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Monday, December 4th. Anthem’s payout ratio is presently 25.32%.
In related news, insider Joseph Swedish sold 21,125 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $190.63, for a total transaction of $4,027,058.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Ronald W. Penczek sold 978 shares of the stock in a transaction that occurred on Tuesday, November 7th. The shares were sold at an average price of $217.42, for a total value of $212,636.76. Following the transaction, the senior vice president now directly owns 1,222 shares of the company’s stock, valued at $265,687.24. The disclosure for this sale can be found here. Over the last three months, insiders have sold 65,955 shares of company stock valued at $13,907,287. 0.36% of the stock is owned by corporate insiders.
A number of hedge funds have recently modified their holdings of the business. Americafirst Capital Management LLC purchased a new stake in Anthem during the third quarter valued at approximately $260,000. Belpointe Asset Management LLC purchased a new stake in Anthem during the third quarter valued at approximately $309,000. Cetera Advisors LLC purchased a new stake in Anthem during the third quarter valued at approximately $465,000. IFM Investors Pty Ltd purchased a new stake in Anthem during the third quarter valued at approximately $1,409,000. Finally, Yellowstone Partners LLC purchased a new stake in Anthem during the third quarter valued at approximately $203,000. Institutional investors and hedge funds own 87.26% of the company’s stock.
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.
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