Anthem (NYSE:ANTM) Price Target Raised to $408.00 at Royal Bank of Canada

Anthem (NYSE:ANTM) had its price target raised by equities research analysts at Royal Bank of Canada from $399.00 to $408.00 in a note issued to investors on Thursday, The Fly reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective would indicate a potential upside of 6.36% from the company’s previous close.

A number of other equities research analysts have also recently commented on the stock. Morgan Stanley raised their price objective on shares of Anthem from $454.00 to $459.00 and gave the stock an “overweight” rating in a research note on Friday, July 2nd. Cowen raised their price objective on shares of Anthem from $360.00 to $395.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 14th. BMO Capital Markets raised their price objective on shares of Anthem from $440.00 to $450.00 and gave the stock an “outperform” rating in a research note on Thursday, April 22nd. Argus lifted their price target on shares of Anthem from $330.00 to $435.00 and gave the company a “buy” rating in a research note on Thursday, May 6th. Finally, Zacks Investment Research cut shares of Anthem from a “hold” rating to a “sell” rating and set a $379.00 price target on the stock. in a research note on Thursday, March 25th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have given a buy rating to the stock. Anthem currently has a consensus rating of “Buy” and a consensus target price of $410.86.

Shares of NYSE ANTM opened at $383.59 on Thursday. The firm has a market cap of $93.92 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 1.21 and a beta of 1.04. Anthem has a 12 month low of $244.10 and a 12 month high of $406.00. The stock’s 50 day moving average price is $388.46. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.66.

Anthem (NYSE:ANTM) last issued its quarterly earnings data on Tuesday, July 20th. The company reported $7.03 EPS for the quarter, topping analysts’ consensus estimates of $6.34 by $0.69. The business had revenue of $33.28 billion for the quarter, compared to analysts’ expectations of $33.22 billion. Anthem had a net margin of 3.78% and a return on equity of 17.10%. The business’s revenue was up 14.1% on a year-over-year basis. During the same quarter last year, the company earned $9.20 EPS. On average, equities analysts forecast that Anthem will post 25.25 EPS for the current year.

In other news, CFO John E. Gallina sold 46,444 shares of Anthem stock in a transaction on Monday, May 24th. The stock was sold at an average price of $394.89, for a total transaction of $18,340,271.16. Following the transaction, the chief financial officer now owns 60,095 shares in the company, valued at approximately $23,730,914.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Ramiro G. Peru sold 1,308 shares of Anthem stock in a transaction on Monday, May 24th. The stock was sold at an average price of $398.02, for a total value of $520,610.16. Following the transaction, the director now owns 9,462 shares in the company, valued at approximately $3,766,065.24. The disclosure for this sale can be found here. Insiders sold a total of 49,060 shares of company stock worth $19,376,233 in the last 90 days. 0.28% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in Anthem by 6.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,686,564 shares of the company’s stock valued at $4,553,842,000 after buying an additional 715,968 shares during the period. Capital International Investors raised its holdings in Anthem by 4.3% in the 1st quarter. Capital International Investors now owns 4,364,482 shares of the company’s stock valued at $1,566,857,000 after buying an additional 180,270 shares during the period. Geode Capital Management LLC raised its holdings in Anthem by 1.6% in the 1st quarter. Geode Capital Management LLC now owns 3,789,223 shares of the company’s stock valued at $1,356,155,000 after buying an additional 60,325 shares during the period. Alliancebernstein L.P. raised its holdings in Anthem by 3.0% in the 1st quarter. Alliancebernstein L.P. now owns 3,697,744 shares of the company’s stock valued at $1,327,305,000 after buying an additional 106,902 shares during the period. Finally, Sanders Capital LLC raised its holdings in Anthem by 1.6% in the 1st quarter. Sanders Capital LLC now owns 3,505,947 shares of the company’s stock valued at $1,368,207,000 after buying an additional 55,780 shares during the period. Institutional investors and hedge funds own 88.45% of the company’s stock.

Anthem Company Profile

Anthem, Inc provides life, hospital and medical insurance plans. It offers a broad spectrum of network-based managed care health benefit plans to the large and small employer, individual, Medicaid, and Medicare markets. The company operates through the following segments: Commercial & Specialty Business, Government Business, IngenioRx and Other.

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