Anthem, Inc. (ANTM) Stock Down After Price Target Increase at RBC Capital Markets

Anthem, Inc. (NYSE: ANTM) shares were down on Thursday February 2 on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock, raising the price target of stock.

Meanwhile, The Dow Jones Industrial Average DJIA, -0.10% fell 34 points, or 0.2%, to 19,858. The S&P 500 SPX, -0.11% lost 4 points to 2,276, a drop of 0.2%. The Nasdaq Composite Index COMP, -0.05% slid 16 points, or 0.3%, to 5,626. Among the most actively traded Nasdaq stocks was Facebook Inc FB, +0.31% which fell 0.7% a day after it reported its quarterly results.

Anthem, Inc. (NYSE: ANTM) had its price target increased by equities researchers at RBC Capital Markets from $169.00 to $174.00. With a rating of Outperform on the stock, Anthem, Inc. has a 52-week high of $160.79. The one-year price target of $164.12 is above the opening price of $160.00, resulting a fair amount of other analysts to issue statements on the company recently.

Shares of Anthem, Inc. (NYSE: ANTM) opened at $160.00 yesterday trading between $156.66 and $160.31, and last traded at $158.35, which represents a decrease of $2.45 from the previous closing price.

Anthem, Inc. (NYSE: ANTM) currently has a market cap of 41.71B.

Anthem, Inc. (NYSE: ANTM) Average Daily Trading Volume

The stock’s average daily volume is 1,719,690 shares out of a total float 263,074,000 and some 309,182 shares traded hands yesterday, 83 percent below the average. lower than normal. Look for trading volume to pick up in the coming days as investors often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.

While increased trading for one day will not mean much, conversely, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.

Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.

These instituitional investors retain substantial teams of analysts that research thousands of stocks, so it is good confirmation to see them taking a postion in a stock you are researching.

Anthem, Inc. (NYSE: ANTM) Moving Averages

A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.

This is because the average acts like a floor (support), so the price bounces up off of it.

In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.

By identifying trends, moving averages allow investors to make those trends work in their favor and increase the number of successful trades.

With that in mind, Anthem, Inc. (NYSE: ANTM) now has a 50-day MA of $147.55 and 200-day MA of $134.10. It has traded in a 52-week range between $114.85 – 160.790 and today’s last price is 1.52%% lower than the 52 week high of $160.79.

Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors seek companies that have been successful at growing their earnings by at least 25% for 3 consecutive years.

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