The stock of Anthem, Inc. (NYSE:ANTM) is now priced at $273.08 and the shares are -8.44 points down or -3% lower compared to its previous closing price of $281.52. The stock had 1.556 million contracts set over the past session. ANTM shares’ daily volume is compared to its average trading volume at 1.219 million shares. However, it has a float of 250 million and although its performance was -1.23% over the week, it’s one to watch. Analysts have given the ANTM stock a yearly average price target of $338.87 per share. It means the stock’s upside potential is 24.09% with the ANTM share price recently placing at $272.83 to $280.64. However, some brokerage firms have priced the stock below the average, including one that has called $293.
The shorts are running away from the Anthem, Inc. stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the ANTM shares have declined. Short interest in the stock represents just 1.54% of its float, but the volume has dropped by 0.
In the last trading session, Anthem, Inc. (NYSE:ANTM) dropped by -$3.39 over the week and gained $2.19 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $309.1. The stock recorded its established 52-week high on 01/10/20.
Since 03/23/20, the stock has traded to a low of $171.03 at 59.67%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 0.9. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Anthem, Inc.’s two-week RSI is 46.2. This suggests that the stock is neutral at the moment and that ANTM shares’ price movement remains stable. The stochastic readings are equally revealing at 51.13% meaning the ANTM share price is currently in neutral territory.
The technical chart shows that the ANTM stock will likely settle at between $278.2 and $283.33 per share. However, if the stock dips below $270.39, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $267.71.
Currently, the stock is trading in the red of MACD, with a reading of -0.34. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Maxim Group assigned ANTM a rating of Outperform in their intiating review released on July 01. Goldman analysts see the stock as a Neutral with a target price of $340 in a flash note released to investors on June 05 initiating covering the stock. Jefferies seeing the stock struggling downgraded it from Buy to Hold on April 09 placing it at $257.
The average rating for the ANTM equity is 1.96 and is currently gathering a bullish momentum. Of 25 analysts tracking Anthem, Inc. polled by Reuters, 6 rated ANTM as a hold. The remaining 19 analysts were split evenly. However, the split wasn’t equal as a majority (19) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
Elsewhere, the ANTM stock price is 10.77X ahead of its 12-month Consensus earnings per share estimates. The stocks P/S ratio currently stands at 11.9 below the group’s average of 14.4. Anthem, Inc. has its P/E ratio at 2, which means that the stock is currently trading at a discount relative to the 2.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Anthem, Inc. (NYSE:ANTM) will increase by about 1.59%, which will see them reach $29700 million. The company’s full-year revenues are, however, expected to increase by about 14.81%, up from $103000 million to $118000 million. ANTM’s expected adjusted earnings should drop almost -14.78% to end up at $4.15 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 15.53% to record $22.46/share.