Piper Jaffray Companies Upgrades Anthem (ANTM) to “Overweight”

Anthem (NYSE:ANTM) was upgraded by stock analysts at Piper Jaffray Companies from a “neutral” rating to an “overweight” rating in a report released on Wednesday. The firm currently has a $151.00 target price on the stock. Piper Jaffray Companies’ target price indicates a potential downside of 34.41% from the company’s previous close.

Other research analysts have also recently issued reports about the company. B. Riley reaffirmed a “buy” rating on shares of Anthem in a research report on Wednesday, December 6th. Zacks Investment Research cut Anthem from a “buy” rating to a “hold” rating in a report on Tuesday, September 19th. Leerink Swann reissued an “outperform” rating on shares of Anthem in a report on Tuesday, November 7th. BidaskClub raised Anthem from a “hold” rating to a “buy” rating in a report on Wednesday, September 6th. Finally, Cantor Fitzgerald reissued a “buy” rating and set a $215.00 price objective on shares of Anthem in a report on Thursday, September 14th. Six analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Anthem currently has a consensus rating of “Buy” and an average target price of $206.60.

Shares of Anthem (NYSE ANTM) traded up $1.06 during mid-day trading on Wednesday, reaching $230.21. The company had a trading volume of 1,062,900 shares, compared to its average volume of 1,218,833. The company has a market capitalization of $59,940.00, a PE ratio of 20.81, a P/E/G ratio of 1.66 and a beta of 0.79. Anthem has a 52-week low of $142.04 and a 52-week high of $236.39. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.51 and a current ratio of 1.51.

Anthem (NYSE:ANTM) last issued its earnings results on Wednesday, October 25th. The company reported $2.65 EPS for the quarter, topping the consensus estimate of $2.40 by $0.25. The firm had revenue of $22.10 billion during the quarter, compared to analysts’ expectations of $22.10 billion. Anthem had a return on equity of 12.97% and a net margin of 3.35%. Anthem’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period last year, the business earned $2.45 earnings per share. research analysts anticipate that Anthem will post 11.97 EPS for the current fiscal year.

Anthem announced that its Board of Directors has authorized a share buyback plan on Thursday, December 7th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

In other news, Director Julie A. Hill sold 1,602 shares of the firm’s stock in a transaction on Tuesday, November 7th. The stock was sold at an average price of $215.70, for a total value of $345,551.40. Following the completion of the sale, the director now directly owns 35,322 shares in the company, valued at $7,618,955.40. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Joseph Swedish sold 21,125 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $209.85, for a total value of $4,433,081.25. Following the completion of the sale, the insider now owns 87,668 shares of the company’s stock, valued at $18,397,129.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 44,830 shares of company stock valued at $9,880,228. 0.36% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. C M Bidwell & Associates Ltd. increased its stake in shares of Anthem by 0.5% in the second quarter. C M Bidwell & Associates Ltd. now owns 1,070 shares of the company’s stock valued at $201,000 after buying an additional 5 shares in the last quarter. Salem Investment Counselors Inc. increased its stake in shares of Anthem by 1.4% in the second quarter. Salem Investment Counselors Inc. now owns 710 shares of the company’s stock valued at $134,000 after buying an additional 10 shares in the last quarter. Gofen & Glossberg LLC IL increased its stake in shares of Anthem by 0.6% in the second quarter. Gofen & Glossberg LLC IL now owns 2,540 shares of the company’s stock valued at $478,000 after buying an additional 15 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Anthem by 0.4% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,687 shares of the company’s stock valued at $3,704,000 after buying an additional 76 shares in the last quarter. Finally, Bahl & Gaynor Inc. increased its stake in shares of Anthem by 11.1% in the second quarter. Bahl & Gaynor Inc. now owns 1,451 shares of the company’s stock valued at $209,000 after buying an additional 145 shares in the last quarter. Institutional investors own 87.41% of the company’s stock.

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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.

Analyst Recommendations for Anthem (NYSE:ANTM)

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