athenahealth Inc. (ATHN) Position Cut by Advisors Asset Management Inc.
Advisors Asset Management Inc. reduced its stake in shares of athenahealth Inc. (NASDAQ:ATHN) by 77.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 878 shares of the company’s stock after selling 2,960 shares during the period. Advisors Asset Management Inc.’s holdings in athenahealth were worth $121,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in ATHN. FineMark National Bank & Trust raised its position in athenahealth by 4.5% in the second quarter. FineMark National Bank & Trust now owns 944 shares of the company’s stock valued at $130,000 after buying an additional 41 shares in the last quarter. KBC Group NV purchased a new stake in shares of athenahealth during the second quarter worth approximately $135,000. Societe Generale purchased a new stake in shares of athenahealth during the second quarter worth approximately $176,000. SG Americas Securities LLC raised its stake 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. Finally, Bessemer Group Inc. raised its stake in shares of athenahealth by 28.1% in the first quarter. Bessemer Group Inc. now owns 1,295 shares of the company’s stock worth $180,000 after buying an additional 284 shares during the period.
athenahealth Inc. (NASDAQ:ATHN) traded up 0.47% during trading on Friday, hitting $125.97. 341,186 shares of the company’s stock traded hands. The stock has a market cap of $4.96 billion, a P/E ratio of 463.12 and a beta of 1.28. The company’s 50 day moving average is $123.18 and its 200-day moving average is $129.87. athenahealth Inc. has a 12 month low of $114.59 and a 12 month high of $170.42.
athenahealth (NASDAQ:ATHN) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by $0.08. athenahealth had a net margin of 1.06% and a return on equity of 5.16%. The firm earned $261.90 million during the quarter, compared to analysts’ expectations of $274.07 million. On average, analysts predict that athenahealth Inc. will post $1.77 earnings per share for the current year.
A number of equities analysts have weighed in on ATHN shares. Deutsche Bank AG downgraded athenahealth from a “buy” rating to a “hold” rating and lowered their price target for the stock from $165.00 to $147.00 in a research report on Friday, July 22nd. Jefferies Group reaffirmed an “underperform” rating and issued a $105.00 target price on shares of athenahealth in a research report on Monday, July 25th. Zacks Investment Research raised athenahealth from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Morgan Stanley decreased their target price on athenahealth from $186.00 to $153.00 and set an “overweight” rating on the stock in a research report on Monday, July 25th. Finally, Canaccord Genuity reiterated a “hold” rating and issued a $142.00 price target on shares of athenahealth in a research note on Wednesday, June 29th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. athenahealth has an average rating of “Hold” and an average target price of $149.58.
In other athenahealth news, SVP Daniel P. Haley sold 2,109 shares of the company’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $124.43, for a total value of $262,422.87. Following the sale, the senior vice president now owns 3,195 shares in the company, valued at $397,553.85. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John A. Kane sold 2,875 shares of the company’s stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $128.81, for a total transaction of $370,328.75. Following the completion of the sale, the director now owns 10,708 shares in the company, valued at approximately $1,379,297.48. The disclosure for this sale can be found here. Corporate insiders own 3.04% of the company’s stock.
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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