NEW YORK (TheStreet) -- Shares of Anthem (ANTM) - Get Report are down by 2.82% to $129.42 Tuesday afternoon, after the company announced that antitrust regulators will likely make a decision in July on whether or not to approve its $51 billion acquisition of Cigna (CI), Reuters reports.

The Indianapolis-based health benefit company made a bid for Cigna after Aetna (AET) proposed to buy Humana (HUM) last July in a $34 billion deal. The two mergers would reduce the U.S. health insurance market to three major players compared to five, raising doubts that both will be approved, Reuters says.

Anthem's merger with Cigna also came into doubt after it was reported yesterday that the two health insurers were arguing over missed deadlines, uncertainty about executives' positions and Anthem's lawsuit against Express Scripts (ESRX).

In addition, regulators have questioned how Anthem and Cigna will manage healthcare benefits for large employers, but Anthem's Joseph Swedish, chief executive officer, tells Reuters that the review was moving forward as expected.

Separately, TheStreet Ratings rated Anthem as a "buy" with a score of B+.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon.

Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

This is driven by several positive factors, which TheStreet Ratings believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks that are covered.

The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures and attractive valuation levels.

TheStreet Ratings feels its strengths outweigh the fact that the company has had sub par growth in net income.

You can view the full analysis from the report here: ANTM

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