Anthem (NASDAQ:ANTX) Share Price Breaks Above 200-Day Moving Average – Time to Sell?

Anthem, Inc. (NASDAQ:ANTX)’s stock price passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $4.14 and traded as high as $4.51. Anthem shares last traded at $4.33, with a volume of 271,558 shares traded.

Wall Street Analysts Forecast Growth

ANTX has been the subject of a number of research reports. Weiss Ratings reissued a “sell (d-)” rating on shares of Anthem in a research note on Friday, October 2nd. Guggenheim initiated coverage on Anthem in a report on Monday, July 20th. They set a “buy” rating and a $9.00 price objective on the stock. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $9.00.

Anthem Stock Down 0.4%

The company has a 50 day simple moving average of $4.64 and a two-hundred day simple moving average of $4.17. The company has a market capitalization of $167.55 million, a P/E ratio of -4.77 and a beta of -0.93.

Anthem (NASDAQ:ANTX) last posted its quarterly earnings data on Monday, November 9th. The company reported ($0.17) earnings per share (EPS) for the quarter.

Insiders Place Their Bets

In related news, Director Robin Shane Readnour sold 10,019 shares of the firm’s stock in a transaction on Tuesday, September 8th. The stock was sold at an average price of $6.02, for a total value of $60,314.38. Following the completion of the sale, the director directly owned 557,990 shares in the company, valued at $3,359,099.80. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 55,727 shares of company stock worth $330,207. Corporate insiders own 22.61% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Vivo Capital LLC bought a new position in Anthem during the first quarter valued at $10,785,000. Seven Fleet Capital Management LP purchased a new stake in shares of Anthem in the first quarter valued at $683,000. Commodore Capital LP bought a new stake in shares of Anthem in the 1st quarter worth about $7,981,000. Spruce Street Capital LP bought a new stake in shares of Anthem in the 1st quarter worth about $5,576,000. Finally, Ally Bridge Group NY LLC bought a new stake in shares of Anthem in the 1st quarter worth about $1,800,000. 90.47% of the stock is owned by hedge funds and other institutional investors.

Anthem Company Profile

Anthem, Inc. was a U.S. health benefits company that provided health insurance and related services to individuals, employers, and government-sponsored programs. Its offerings included medical, dental, and vision coverage, pharmacy benefits, and plans serving Medicare and Medicaid members. The company operated health plans across the United States, including plans affiliated with the Blue Cross Blue Shield network. In 2022, Anthem changed its corporate name to Elevance Health to reflect a broader focus on health services beyond insurance.