athenahealth Inc. (ATHN) Sees Strong Trading Volume
athenahealth Inc. (NASDAQ:ATHN) shares saw unusually-high trading volume on Friday . Approximately 447,439 shares were traded during trading, an increase of 48% from the previous session’s volume of 301,976 shares.The stock last traded at $122.09 and had previously closed at $124.19.
ATHN has been the subject of a number of research reports. Zacks Investment Research downgraded shares of athenahealth from a “hold” rating to a “sell” rating in a research report on Friday, July 29th. Piper Jaffray Cos. restated an “overweight” rating and set a $174.00 target price on shares of athenahealth in a research report on Tuesday, May 17th. Leerink Swann restated a “hold” rating on shares of athenahealth in a research report on Thursday, June 16th. Deutsche Bank AG reiterated a “buy” rating and issued a $165.00 price objective on shares of athenahealth in a research report on Sunday, May 22nd. Finally, FBR & Co decreased their price objective on shares of athenahealth from $145.00 to $140.00 and set a “market perform” rating for the company in a research report on Friday, July 22nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $149.58.
The firm’s 50 day moving average is $128.89 and its 200-day moving average is $131.21. The stock has a market capitalization of $4.80 billion and a price-to-earnings ratio of 448.86.
athenahealth (NASDAQ:ATHN) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.08. The business earned $261.90 million during the quarter, compared to analysts’ expectations of $274.07 million. Equities analysts forecast that athenahealth Inc. will post $1.77 earnings per share for the current year.
In other news, CEO Jonathan Bush sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The stock was sold at an average price of $138.21, for a total value of $552,840.00. Following the transaction, the chief executive officer now owns 312,109 shares in the company, valued at $43,136,584.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brandon H. Hull sold 800 shares of the firm’s stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of $130.00, for a total value of $104,000.00. Following the completion of the transaction, the director now owns 7,187 shares in the company, valued at approximately $934,310. The disclosure for this sale can be found here.
Other hedge funds and institutional investors recently bought and sold shares of the company. Advisors Asset Management Inc. raised its position in athenahealth by 62.6% in the fourth quarter. Advisors Asset Management Inc. now owns 7,811 shares of the company’s stock worth $1,257,000 after buying an additional 3,007 shares in the last quarter. Schwab Charles Investment Management Inc. raised its position in athenahealth by 7.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 112,672 shares of the company’s stock worth $18,137,000 after buying an additional 7,346 shares in the last quarter. Trexquant Investment LP bought a new position in athenahealth during the fourth quarter worth $1,193,000. Finally, Wells Fargo & Company MN raised its position in athenahealth by 12.5% in the fourth quarter. Wells Fargo & Company MN now owns 112,456 shares of the company’s stock worth $18,102,000 after buying an additional 12,478 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.