athenahealth Inc. (NASDAQ:ATHN) Receives Average Rating of “Hold” from Brokerages
athenahealth Inc. (NASDAQ:ATHN) has been given a consensus recommendation of “Hold” by the twenty-one ratings firms that are covering the company. Four research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $144.87.
Several research analysts recently commented on the company. Zacks Investment Research lowered athenahealth from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 12th. Morgan Stanley dropped their target price on athenahealth from $186.00 to $153.00 and set an “overweight” rating for the company in a research report on Monday, July 25th. FBR & Co dropped their target price on athenahealth from $145.00 to $140.00 and set a “market perform” rating for the company in a research report on Friday, July 22nd. Canaccord Genuity restated a “hold” rating and set a $142.00 target price on shares of athenahealth in a research report on Wednesday, June 29th. Finally, Leerink Swann restated a “hold” rating on shares of athenahealth in a research report on Thursday, June 16th.
athenahealth (NASDAQ:ATHN) traded up 1.89% during mid-day trading on Wednesday, hitting $126.58. The company had a trading volume of 117,270 shares. The firm has a market capitalization of $4.98 billion, a PE ratio of 465.37 and a beta of 1.28. The company has a 50 day moving average of $122.89 and a 200 day moving average of $130.01. athenahealth has a 1-year low of $114.59 and a 1-year high of $170.42.
athenahealth (NASDAQ:ATHN) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.42 by $0.08. The company earned $261.90 million during the quarter, compared to analysts’ expectations of $274.07 million. athenahealth had a return on equity of 5.16% and a net margin of 1.06%. Analysts predict that athenahealth will post $1.77 earnings per share for the current fiscal year.
In other athenahealth news, COO Ed Park sold 4,000 shares of the company’s stock in a transaction dated Monday, August 15th. The shares were sold at an average price of $124.20, for a total value of $496,800.00. Following the completion of the transaction, the chief operating officer now owns 20,719 shares in the company, valued at $2,573,299.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Karl Stubelis sold 928 shares of the company’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $123.36, for a total transaction of $114,478.08. Following the completion of the transaction, the vice president now owns 1,375 shares of the company’s stock, valued at approximately $169,620. The disclosure for this sale can be found here. 3.04% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. purchased a new position in shares of athenahealth during the second quarter worth $118,000. FineMark National Bank & Trust increased its position in shares of athenahealth by 4.5% in the second quarter. FineMark National Bank & Trust now owns 944 shares of the company’s stock worth $130,000 after buying an additional 41 shares during the period. KBC Group NV purchased a new position in shares of athenahealth during the second quarter worth $135,000. Societe Generale purchased a new position in shares of athenahealth during the second quarter worth $176,000. Finally, SG Americas Securities LLC increased its position in shares of athenahealth by 27.7% in the second quarter. SG Americas Securities LLC now owns 1,277 shares of the company’s stock worth $176,000 after buying an additional 277 shares during the period.
athenahealth Company Profile
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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