Anthem Inc (NYSE:ANTM) stock rose 0.10% (As on Apr 21, 11:33:18 AM UTC-4, Source: Google Finance) after the company beaten the earnings estimates for the first quarter of FY 22. Anthem exited the first quarter with cash and cash equivalents of $6.2 billion, which increased 26.3% from the level at 2021 end. Long-term debt, less current portion totaled nearly $20 billion, down 6% from the 2021-end figure. Net cash provided by operating activities in the first quarter inched up 1.4% year over year to $2.5 billion.

ANTM in the first quarter of FY 22 has reported the adjusted earnings per share of $8.25, beating the analysts’ estimates for the adjusted earnings per share of $7.81, according to the Zacks Consensus Estimate. The company had reported the adjusted revenue growth of 18 percent to $37.9 billion in the first quarter of FY 22, driven by Medicaid, Medicare Advantage and Commercial risk-based membership growth and the buyouts of MMM and Paramount that contributed to improved premium revenues. Premium rate increases combined with higher pharmacy product revenues within IngenioRx also contributed to the top-line growth. The top line beat the consensus mark by 1.4%. As of Mar 31, 2022, medical enrollment of Anthem amounted to roughly 46.8 million, which grew 7.5% year over year, driven by higher enrollment across Commercial & Specialty Business as well as Government Business.

Additionally, in the first quarter, Anthem bought back shares worth $545 million. ANTM had around $3.6 billion remaining under its share buyback authorization as of Mar 31, 2022. The company has announced a second-quarter 2022 dividend of $1.28 per share on Apr 19, 2022. The dividend will be paid on Jun 24, 2022, to shareholders of record as of Jun 10.

Anthem hiked its guidance for 2022 with respect to adjusted net income per share. Adjusted net income is now anticipated to be more than $28.40 per share, higher than the prior outlook of “greater than 28.25”. The revised guidance indicates a minimum growth of at least 9.3% from the 2021 reported figure. Earlier management stated that operating revenues for 2022 are expected to be around $152 billion. Medical enrollment is projected in the range of 45.6 million to 46.2 million. For the current year, investment income is forecast to be $1.1 billion. Anthem anticipates its operating cash flow to be more than $6.9 billion.