In a report released today, Steven Halper from Cantor Fitzgerald reiterated a Buy rating on Anthem Inc (ANTM), with a price target of $305. The company’s shares opened today at $292.17, close to its 52-week high of $293.75.
Halper commented:
“We rate Anthem (ANTM) Overweight and our price target remains at $305. Our price target includes the net present value of the potential pharmacy savings and our appropriately conservative outlook. Within our managed care coverage list, Anthem was the most-aggressive in pursuing the individual exchange market, as it tried to leverage its strong brand name (BlueCross). As risk pools did not develop as expected and the number of individuals signing up for insurance was below expectations, ANTM’s profitability suffered. The company is finally reversing this trend as evidenced by its 1H18 results.”
According to TipRanks.com, Halper is a top 25 analyst with an average return of 22.1% and a 73.4% success rate. Halper covers the Services sector, focusing on stocks such as WellCare Health Plans, Hms Holdings Corp, and Tivity Health Inc.
Currently, the analyst consensus on Anthem Inc is a Strong Buy with an average price target of $314.11.
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The company has a one-year high of $293.75 and a one-year low of $215.52. Currently, Anthem Inc has an average volume of 1.31M.
Based on the recent corporate insider activity of 14 insiders, corporate insider sentiment is negative on the stock.
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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 two segments: Commercial & Specialty Business, Government Business and Other.
