Anthem (NASDAQ:ANTX) Stock Price Up 1.6% - What's Next?

Key Points

• Anthem shares rose 1.6% to $5.09 in midday trading, with volume below the average session level. The stock’s 200-day moving average is $4.73, compared with a 50-day moving average of $5.50.
• Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $9.00. Guggenheim initiated coverage with a Buy rating, while Weiss Ratings maintained a Sell rating.
• Anthem reported a quarterly loss of $0.18 per share. Insiders sold 58,846 shares worth $343,072 over the past quarter, while institutional investors own 90.47% of the company.

Anthem, Inc. (NASDAQ:ANTX - Get Free Report) rose 1.6% during trading on Tuesday. The company traded as high as $5.20 and last traded at $5.09. Approximately 178,839 shares changed hands during mid-day trading, a decline of 23% from the average session volume of 230,906 shares. The stock had previously closed at $5.01.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Guggenheim assumed coverage on shares of Anthem in a research note on Monday, July 20th. They set a "buy" rating and a $9.00 target price for the company. Wall Street Zen raised Anthem from a "sell" rating to a "hold" rating in a research note on Sunday, June 14th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Anthem in a research report on Monday, July 6th. Two investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $9.00.

Anthem Price Performance

The stock's 50-day moving average is $5.50 and its 200 day moving average is $4.73. The stock has a market cap of $192.10 million, a price-to-earnings ratio of -4.76 and a beta of -0.99.

Anthem (NASDAQ:ANTX - Get Free Report) last released its earnings results on Tuesday, August 11th. The company reported ($0.18) earnings per share (EPS) for the quarter.

Insiders Place Their Bets

In related news, Director Robin Shane Readnour sold 35,402 shares of the company's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $6.01, for a total transaction of $212,766.02. Following the transaction, the director owned 565,592 shares of the company's stock, valued at $3,399,207.92. This represents a 5.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 58,846 shares of company stock worth $343,072 over the last quarter. Corporate insiders own 22.61% of the company's stock.

Institutional Investors Weigh In On Anthem

Institutional investors have recently made changes to their positions in the stock. ADAR1 Capital Management LLC acquired a new position in shares of Anthem during the 1st quarter worth $47,000. OMERS ADMINISTRATION Corp acquired a new stake in shares of Anthem in the first quarter valued at about $54,000. Velan Capital Investment Management LP acquired a new stake in shares of Anthem in the second quarter valued at about $194,000. Seven Fleet Capital Management LP purchased a new stake in Anthem during the first quarter worth about $683,000. Finally, Bank of America Corp DE boosted its holdings in Anthem by 2.2% during the first quarter. Bank of America Corp DE now owns 393,702 shares of the company's stock worth $1,346,000 after buying an additional 8,390 shares in the last quarter. 90.47% of the stock is currently owned by hedge funds and other institutional investors.

About Anthem

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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