athenahealth Inc. (ATHN) Sees Unusually-High Trading Volume
Shares of athenahealth Inc. (NASDAQ:ATHN) saw an uptick in trading volume on Wednesday . 283,771 shares changed hands during trading, a decline of 4% from the previous session’s volume of 295,903 shares.The stock last traded at $139.16 and had previously closed at $140.09.
A number of brokerages have recently issued reports on ATHN. Deutsche Bank AG restated a “buy” rating on shares of athenahealth in a report on Sunday, April 17th. Zacks Investment Research cut athenahealth from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. KeyCorp reiterated a “hold” rating on shares of athenahealth in a research note on Sunday, May 22nd. Leerink Swann reiterated a “hold” rating on shares of athenahealth in a research note on Tuesday, May 3rd. Finally, Robert W. Baird reiterated a “buy” rating on shares of athenahealth in a research note on Tuesday, April 26th. Four equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $150.12.
The company’s 50 day moving average price is $132.35 and its 200 day moving average price is $135.80. The stock has a market cap of $5.50 billion and a price-to-earnings ratio of 254.65.
athenahealth (NASDAQ:ATHN) last announced its quarterly earnings results on Thursday, April 28th. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.08. The firm earned $256.15 million during the quarter, compared to the consensus estimate of $248.49 million. The firm’s revenue for the quarter was up 24.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 earnings per share. Equities analysts expect that athenahealth Inc. will post $1.81 EPS for the current fiscal year.
In other athenahealth news, VP Karl Stubelis sold 547 shares of the firm’s stock in a transaction on Monday, April 25th. The shares were sold at an average price of $138.64, for a total value of $75,836.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Ed Park sold 1,500 shares of the firm’s stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $125.82, for a total transaction of $188,730.00. Following the completion of the transaction, the chief operating officer now directly owns 19,819 shares of the company’s stock, valued at $2,493,626.58. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. Morgan Stanley increased its stake in athenahealth by 3.5% in the fourth quarter. Morgan Stanley now owns 3,927,997 shares of the company’s stock worth $632,290,000 after buying an additional 131,022 shares in the last quarter. Principal Financial Group Inc. increased its stake in athenahealth by 79.9% in the fourth quarter. Principal Financial Group Inc. now owns 6,523 shares of the company’s stock worth $1,050,000 after buying an additional 2,897 shares in the last quarter. Columbus Circle Investors bought a new stake in athenahealth during the fourth quarter worth about $6,609,000. Vanguard Group Inc. increased its stake in athenahealth by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 2,609,701 shares of the company’s stock worth $420,083,000 after buying an additional 68,667 shares in the last quarter. Finally, Marshall Wace LLP increased its stake in athenahealth by 188.0% in the fourth quarter. Marshall Wace LLP now owns 37,199 shares of the company’s stock worth $5,988,000 after buying an additional 24,284 shares in the last quarter.
athenahealth, Inc is a provider of cloud-based services and mobile applications for medical groups and health systems. The Company delivers cloud-based services for revenue cycle management and medical billing, electronic health records (EHR), patient engagement, care coordination, order transmission, population health management, and clinical decision support.
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