Anthem (NASDAQ:ANTX) Stock Jumps 1.6% – Time to Buy?

Shares of Anthem, Inc. (NASDAQ:ANTX) shot up 1.6% during mid-day trading on Tuesday. The company traded as high as $5.20 and last traded at $5.09. Approximately 178,839 shares changed hands during 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 commented on ANTX shares. Wall Street Zen raised Anthem from a “sell” rating to a “hold” rating in a research note on Sunday, June 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Anthem in a research note on Monday, July 6th. Finally, Guggenheim assumed coverage on Anthem in a report on Monday, July 20th. They set a “buy” rating and a $9.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned 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 Trading Up 1.6%

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

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

Insider Buying and Selling at Anthem

In other news, Director Robin Shane Readnour sold 35,402 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $6.01, for a total transaction of $212,766.02. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 58,846 shares of company stock worth $343,072. Company insiders own 22.61% of the company’s stock.

Institutional Investors Weigh In On Anthem

Large investors have recently bought and sold shares of the stock. Vivo Capital LLC purchased a new position in Anthem during the first quarter worth $10,785,000. Commodore Capital LP purchased a new stake in shares of Anthem in the first quarter valued at $7,981,000. Spruce Street Capital LP purchased a new stake in shares of Anthem in the first quarter valued at $5,576,000. Ally Bridge Group NY LLC purchased a new stake in shares of Anthem in the first quarter valued at $1,800,000. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of Anthem during the second quarter valued at $1,443,000. Institutional investors and hedge funds 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.