Spruce Street Capital LP Takes Position in Anthem, Inc. $ANTX

Spruce Street Capital LP bought a new position in shares of Anthem, Inc. (NASDAQ:ANTX) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,661,073 shares of the company’s stock, valued at approximately $5,576,000. Anthem accounts for 1.3% of Spruce Street Capital LP’s holdings, making the stock its 23rd biggest holding. Spruce Street Capital LP owned 4.61% of Anthem as of its most recent filing with the Securities and Exchange Commission (SEC).

Anthem Price Performance

ANTX opened at $4.92 on Friday. The company’s 50-day moving average price is $4.64 and its 200 day moving average price is $3.37. Anthem, Inc. has a fifty-two week low of $1.00 and a fifty-two week high of $6.91. The firm has a market cap of $177.22 million, a price-to-earnings ratio of -4.47 and a beta of -0.99.

Anthem (NASDAQ:ANTX) last issued its quarterly earnings data on Monday, May 11th. The company reported ($0.29) earnings per share for the quarter, missing the consensus estimate of ($0.23) by ($0.06).

Wall Street Analysts Forecast Growth

Several research firms recently commented on ANTX. Guggenheim initiated coverage on Anthem in a research note on Monday, July 20th. They issued a “buy” rating and a $9.00 target price for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Anthem in a report on Monday, July 6th. Wall Street Zen raised shares of Anthem from a “sell” rating to a “hold” rating in a research report on Sunday, June 14th. Finally, Leerink Partners upgraded shares of Anthem from a “market perform” rating to an “outperform” rating and set a $9.00 price target on the stock in a report on Thursday, May 14th. Two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $9.00.

About Anthem

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.