Anthem (NASDAQ:ANTX) Stock Price Up 1.6% – Here’s Why

Anthem, Inc. (NASDAQ:ANTX)’s share price traded up 1.6% during mid-day trading on Tuesday. The company traded as high as $5.20 and last traded at $5.09. 178,839 shares were traded during trading, a decline of 23% from the average daily volume of 230,906 shares. The stock had previously closed at $5.01.

Analyst Upgrades and Downgrades

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

Anthem Price Performance

The company has a market capitalization of $209.27 million, a PE ratio of -5.16 and a beta of -0.99. The firm has a 50-day moving average of $5.51 and a 200 day moving average of $4.73.

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

Insiders Place Their Bets

In other Anthem news, Director Robin Shane Readnour sold 35,402 shares of the firm’s stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $6.01, for a total transaction of $212,766.02. Following the sale, the director directly owned 565,592 shares of the company’s stock, valued at $3,399,207.92. This trade represents a 5.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 58,846 shares of company stock worth $343,072 over the last quarter. 22.61% of the stock is owned by insiders.

Institutional Trading of Anthem

Hedge funds have recently bought and sold shares of the stock. Citizens Financial Group Inc. RI purchased a new stake in shares of Anthem during the 2nd quarter worth approximately $1,443,000. ADAR1 Capital Management LLC purchased a new stake in Anthem during the first quarter valued at approximately $47,000. OMERS ADMINISTRATION Corp purchased a new position in shares of Anthem in the 1st quarter worth approximately $54,000. Velan Capital Investment Management LP bought a new stake in Anthem in the second quarter worth $194,000. Finally, Seven Fleet Capital Management LP bought a new position in Anthem during the first quarter valued at $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.