Anthem (NASDAQ:ANTX) Announces Earnings Results

Anthem (NASDAQ:ANTX) released its earnings results on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, FiscalAI reports.

Anthem Stock Down 0.7%

Anthem stock traded down $0.04 during midday trading on Tuesday, reaching $5.87. The company’s stock had a trading volume of 68,684 shares, compared to its average volume of 728,775. Anthem has a fifty-two week low of $1.00 and a fifty-two week high of $6.91. The company has a market cap of $211.44 million, a P/E ratio of -5.34 and a beta of -0.99. The business has a 50-day simple moving average of $4.84 and a 200-day simple moving average of $3.71.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ANTX. Citizens Financial Group Inc. RI purchased a new position in shares of Anthem in the 2nd quarter valued at $1,443,000. Bank of America Corp DE lifted its position in Anthem by 2.2% in the first quarter. Bank of America Corp DE now owns 393,702 shares of the company’s stock valued at $1,346,000 after acquiring an additional 8,390 shares during the last quarter. ADAR1 Capital Management LLC purchased a new stake in Anthem in the first quarter valued at $47,000. OMERS ADMINISTRATION Corp acquired a new position in Anthem in the first quarter valued at $54,000. Finally, Seven Fleet Capital Management LP purchased a new position in shares of Anthem during the first quarter worth about $683,000. 90.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Guggenheim initiated coverage on Anthem in a research note on Monday, July 20th. They issued a “buy” rating and a $9.00 price objective for the company. Leerink Partners upgraded shares of Anthem from a “market perform” rating to an “outperform” rating and set a $9.00 target price on the stock in a research note on Thursday, May 14th. Wall Street Zen raised shares of Anthem from a “sell” rating to a “hold” rating in a report 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 MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $9.00.

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.