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

Key Points

• Guggenheim initiated coverage on Anthem with a buy rating and a $9.00 price target, implying about 92% upside from the current share price.
• Analyst sentiment is mixed overall: Leerink Partners upgraded the stock to outperform, while Weiss Ratings kept a sell rating and Wall Street Zen moved it to hold, leaving the consensus at Hold.
• Anthem recently reported a Q1 loss of $0.29 per share, missing analyst expectations, while institutional ownership remains high at 90.47%.

Guggenheim initiated coverage on shares of Anthem (NASDAQ:ANTX - Get Free Report) in a note issued to investors on Monday,Benzinga reports. The brokerage set a "buy" rating and a $9.00 price target on the stock. Guggenheim's target price indicates a potential upside of 92.31% from the company's current price.

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

Anthem Price Performance

Shares of ANTX stock opened at $4.68 on Monday. Anthem has a 1-year low of $1.00 and a 1-year high of $6.91. The company has a market cap of $168.57 million, a price-to-earnings ratio of -4.25 and a beta of -0.99. The stock has a 50 day simple moving average of $4.60 and a 200-day simple moving average of $3.25.

Anthem (NASDAQ:ANTX - Get Free Report) last posted its quarterly earnings data on Monday, May 11th. The company reported ($0.29) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.06).

Institutional Investors Weigh In On Anthem

Several institutional investors have recently added to or reduced their stakes in the business. Vivo Capital LLC purchased a new stake in shares of Anthem during the 1st quarter worth approximately $10,785,000. Commodore Capital LP acquired a new position in shares of Anthem in the 1st quarter valued at $7,981,000. Spruce Street Capital LP purchased a new position in shares of Anthem in the 1st quarter valued at $5,576,000. Ally Bridge Group NY LLC acquired a new stake in Anthem during the 1st quarter worth $1,800,000. Finally, Seven Fleet Capital Management LP acquired a new stake in Anthem during the 1st quarter worth $683,000. Hedge funds and other institutional investors own 90.47% of the company's stock.

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.

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