The Indianapolis-based healthcare company reported 2015 third quarter earnings of $2.73 per share, compared to Oppenheimer's estimate of $2.29 per share. Anthem reported revenue of $19.8 billion versus Oppenheimer's estimate of $19.6 billion.
"Despite a ~40 cents beat, ANTM only raised guidance by 10 cents to 20 cents due to the impact of timing difference," Oppenheimer said. "More specifically, Q4:15 will face higher IT spending and the impact of Medicaid retroactive rate increases that were accelerated to Q3."
Oppenheimer lowered its estimate on Anthem's fiscal 2016 earnings to $10.97 per share from $11.10 per share due to these concerns, the firm added.
Shares of Anthem were down by 0.25% to $141.41 in late afternoon trading on Thursday.
Separately, TheStreet Ratings team rates ANTHEM INC as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
We rate ANTHEM INC (ANTM) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, impressive record of earnings per share growth, compelling growth in net income, revenue growth and largely solid financial position with reasonable debt levels by most measures. We feel its strengths outweigh the fact that the company shows low profit margins.
You can view the full analysis from the report here: ANTM