athenahealth Inc. (ATHN) Sees Unusually-High Trading Volume
athenahealth Inc. (NASDAQ:ATHN) shares saw an uptick in trading volume on Friday . 447,439 shares changed hands during mid-day 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.
A number of brokerages have issued reports on ATHN. Zacks Investment Research cut athenahealth from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. FBR & Co lowered their target price on athenahealth from $145.00 to $140.00 and set a “market perform” rating for the company in a report on Friday, July 22nd. Deutsche Bank AG cut athenahealth from a “buy” rating to a “hold” rating and lowered their target price for the stock from $165.00 to $147.00 in a report on Friday, July 22nd. Canaccord Genuity reaffirmed a “hold” rating and issued a $142.00 target price on shares of athenahealth in a report on Wednesday, June 29th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $170.00 target price on shares of athenahealth in a report on Monday, May 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $149.58.
The firm has a 50-day moving average price of $128.89 and a 200-day moving average price of $131.21. The stock has a market cap of $4.80 billion and a price-to-earnings ratio of 448.86.
athenahealth (NASDAQ:ATHN) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share 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 analyst estimates of $274.07 million. On average, analysts anticipate that athenahealth Inc. will post $1.77 earnings per share for the current year.
In other news, COO Ed Park sold 1,500 shares of athenahealth stock in a transaction dated Wednesday, June 1st. The stock was sold at an average price of $125.82, for a total value of $188,730.00. Following the transaction, the chief operating officer now owns 19,819 shares in the company, valued at $2,493,626.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Brandon H. Hull sold 800 shares of athenahealth stock in a transaction dated Thursday, June 2nd. The stock was 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.
Several hedge funds have bought and sold shares of ATHN. Trexquant Investment LP acquired a new stake in athenahealth during the fourth quarter valued at about $1,193,000. Advisors Asset Management Inc. boosted its stake in athenahealth by 62.6% in the fourth quarter. Advisors Asset Management Inc. now owns 7,811 shares of the company’s stock valued at $1,257,000 after buying an additional 3,007 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. boosted its stake in athenahealth by 7.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 112,672 shares of the company’s stock valued at $18,137,000 after buying an additional 7,346 shares during 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.