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Is Anthem Setting Up for a Big Move?

Stock MarketsNov 24, 2021 11:31AM ET
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© Reuters. Is Anthem Setting Up for a Big Move?

A rectangle pattern has formed in the chart of Anthem (ANTM). The stock has bounced off both its resistance line and level of support. If it breaks through either level, a big move is expected. Read more to learn how to profit from this trade.Anthem (ANTM) is one of the largest private health insurance organizations nationwide, providing medical benefits to roughly 44 million medical members. The company offers employer, individual, and government-sponsored coverage plans. It is also the largest single provider of Blue Cross Blue Shield branded coverage.

The company is benefiting from a premium rate increase and higher membership. In addition, acquisitions have enabled the company to boost its Medicare Advantage growth. ANTM also saw a rise in usage of its virtual care services. Plus, its Medicare and Medicaid businesses should help increase its membership going forward.

The company’s balance sheet looks solid with a debt-to-equity ratio of only 0.6. Growth also looks strong with earnings rising an average of 21.1% per year over the past five years. Analysts expect earnings to surge 100.8% year over year in the current quarter, leading to a Growth Grade of A in our POWR Ratings system.

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Is Anthem Setting Up for a Big Move?
 

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