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Credit Suisse Believes Anthem (ANTM) Won’t Stop Here

Credit Suisse analyst A.J. Rice maintained a Buy rating on Anthem (ANTMResearch Report) today and set a price target of $486.00. The company’s shares closed last Wednesday at $424.05, close to its 52-week high of $425.44.

According to TipRanks.com, Rice is a 5-star analyst with an average return of 12.9% and a 63.4% success rate. Rice covers the Healthcare sector, focusing on stocks such as Acadia Healthcare, Quest Diagnostics, and Molina Healthcare.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Anthem with a $460.07 average price target, implying a 15.0% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $470.00 price target.

See the top stocks recommended by analysts >>

Based on Anthem’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $33.85 billion and net profit of $1.79 billion. In comparison, last year the company earned revenue of $29.26 billion and had a net profit of $2.28 billion.

Based on the recent corporate insider activity of 51 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ANTM in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Indiana-based Anthem, Inc. was formed in 2004 after the merger of WellPoint Health Networks Inc. and Anthem, Inc. The company is one of the leading health insurance names, and provides medical benefits through a range of integrated healthcare plans and related services, along with a wide range of specialty products such as life and disability insurance benefits, dental, vision, behavioral health benefit services, as well as long-term care insurance and flexible spending accounts.

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