Cantor Fitzgerald reaffirmed their buy rating on shares of Anthem (NYSE:ANTM) in a research note published on Monday morning, MarketBeat reports. They currently have a $330.00 price objective on the stock, up from their previous price objective of $305.00.
“. We reiterate our Overweight rating on Anthem shares and increase our price target to $330 from $305. We recently hosted an investor trip to Anthem’s headquarters in Indianapolis with senior management. During our meetings, management stressed that it will use $3.2 billion from its PBM savings beginning in 2020 and 2021 to drive membership growth in subsequent years. Accordingly, we have increased our top-line growth assumptions in our DCF model, which drove our price target higher. Importantly, we expect membership and revenue to grow faster without sacrificing margins. We remind investors that our model had already assumed $800 million of savings in 2020 and 2021.”,” Cantor Fitzgerald’s analyst wrote.
Several other research firms have also recently weighed in on ANTM. SunTrust Banks boosted their price objective on Anthem to $315.00 and gave the stock a hold rating in a research report on Thursday, November 1st. Morgan Stanley boosted their price objective on Anthem from $368.00 to $372.00 and gave the stock an overweight rating in a research report on Thursday, November 1st. Cowen began coverage on Anthem in a research report on Monday, September 17th. They issued an outperform rating and a $318.00 price objective on the stock. Citigroup cut Anthem from a buy rating to a neutral rating and set a $162.00 price target on the stock. in a research report on Monday, September 10th. Finally, Royal Bank of Canada upped their price target on Anthem to $318.00 and gave the company an outperform rating in a research report on Thursday, November 1st. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The company has a consensus rating of Buy and a consensus price target of $300.33.
ANTM stock opened at $292.92 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.54 and a current ratio of 1.53. Anthem has a 1-year low of $215.52 and a 1-year high of $300.57. The firm has a market capitalization of $75.02 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85.
Anthem (NYSE:ANTM) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $3.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.70 by $0.11. Anthem had a return on equity of 13.99% and a net margin of 4.98%. The business had revenue of $22.98 billion for the quarter, compared to analysts’ expectations of $22.85 billion. During the same quarter in the previous year, the firm earned $2.65 earnings per share. The business’s revenue was up 4.0% on a year-over-year basis. As a group, research analysts predict that Anthem will post 15.66 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 21st. Stockholders of record on Wednesday, December 5th will be given a dividend of $0.75 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.02%. Anthem’s dividend payout ratio is presently 24.92%.
In other news, EVP Thomas C. Zielinski sold 7,826 shares of the company’s stock in a transaction on Wednesday, November 7th. The stock was sold at an average price of $289.71, for a total transaction of $2,267,270.46. Following the transaction, the executive vice president now owns 29,466 shares of the company’s stock, valued at approximately $8,536,594.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Peter D. Haytaian sold 4,500 shares of the company’s stock in a transaction on Thursday, September 27th. The shares were sold at an average price of $270.00, for a total value of $1,215,000.00. Following the transaction, the executive vice president now directly owns 51,206 shares in the company, valued at approximately $13,825,620. The disclosure for this sale can be found here. Insiders have sold a total of 20,826 shares of company stock worth $5,815,620 in the last ninety days. Insiders own 0.31% of the company’s stock.
Several large investors have recently added to or reduced their stakes in ANTM. Iridian Asset Management LLC CT raised its stake in shares of Anthem by 129.1% during the 3rd quarter. Iridian Asset Management LLC CT now owns 1,569,169 shares of the company’s stock valued at $430,031,000 after purchasing an additional 884,335 shares during the period. Vanguard Group Inc. raised its stake in shares of Anthem by 2.9% during the 3rd quarter. Vanguard Group Inc. now owns 18,729,474 shares of the company’s stock valued at $5,132,811,000 after purchasing an additional 532,579 shares during the period. Orbimed Advisors LLC bought a new stake in shares of Anthem during the 2nd quarter valued at $126,584,000. Artisan Partners Limited Partnership raised its stake in shares of Anthem by 40.2% during the 2nd quarter. Artisan Partners Limited Partnership now owns 1,788,388 shares of the company’s stock valued at $425,690,000 after purchasing an additional 512,962 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Anthem by 1,123.7% during the 2nd quarter. Sei Investments Co. now owns 427,853 shares of the company’s stock valued at $101,841,000 after purchasing an additional 392,889 shares during the period. Institutional investors own 87.12% 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.
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