Sit Investment Associates Inc. Has $849,000 Position in athenahealth Inc. (ATHN)
Sit Investment Associates Inc. held its position in shares of athenahealth Inc. (NASDAQ:ATHN) during the second quarter, Holdings Channel reports. The firm owned 6,150 shares of the company’s stock at the end of the second quarter. Sit Investment Associates Inc.’s holdings in athenahealth were worth $849,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the stock. Wellington Management Group LLP boosted its position in shares of athenahealth by 10.3% in the first quarter. Wellington Management Group LLP now owns 3,645,875 shares of the company’s stock valued at $505,975,000 after buying an additional 339,472 shares during the last quarter. Ruane Cunniff & Goldfarb Inc. boosted its position in shares of athenahealth by 50.0% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 300,095 shares of the company’s stock valued at $41,416,000 after buying an additional 100,095 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of athenahealth by 10.8% in the first quarter. Franklin Resources Inc. now owns 544,811 shares of the company’s stock valued at $75,609,000 after buying an additional 53,300 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of athenahealth during the first quarter valued at $5,523,000. Finally, JPMorgan Chase & Co. boosted its position in shares of athenahealth by 66.7% in the first quarter. JPMorgan Chase & Co. now owns 84,834 shares of the company’s stock valued at $11,773,000 after buying an additional 33,933 shares during the last quarter.
athenahealth Inc. (NASDAQ:ATHN) traded up 0.35% during mid-day trading on Wednesday, reaching $127.37. 242,172 shares of the company’s stock traded hands. athenahealth Inc. has a 12-month low of $114.59 and a 12-month high of $170.42. The stock has a 50-day moving average price of $123.54 and a 200-day moving average price of $129.76. The stock has a market capitalization of $5.01 billion, a PE ratio of 468.27 and a beta of 1.28.
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 Thomson Reuters’ consensus estimate of $0.42 by $0.08. athenahealth had a return on equity of 5.16% and a net margin of 1.06%. The business earned $261.90 million during the quarter, compared to the consensus estimate of $274.07 million. Equities research analysts expect that athenahealth Inc. will post $1.77 EPS for the current year.
Several equities analysts have commented on the stock. Jefferies Group reissued an “underperform” rating and set a $105.00 target price on shares of athenahealth in a research report on Monday, July 25th. Evercore ISI raised shares of athenahealth from a “hold” rating to a “buy” rating and set a $152.00 target price on the stock in a research report on Monday. Stifel Nicolaus assumed coverage on shares of athenahealth in a research report on Wednesday, August 31st. They set a “hold” rating on the stock. Deutsche Bank AG cut shares of athenahealth from a “buy” rating to a “hold” rating and dropped their target price for the stock from $165.00 to $147.00 in a research report on Friday, July 22nd. Finally, Leerink Swann reissued a “hold” rating on shares of athenahealth in a research report on Thursday, June 16th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $149.70.
In other athenahealth news, SVP Bradford Kyle Armbrester sold 2,545 shares of the stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $130.00, for a total value of $330,850.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jonathan Bush sold 4,000 shares of the stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $128.19, for a total transaction of $512,760.00. Following the completion of the transaction, the chief executive officer now owns 312,109 shares in the company, valued at $40,009,252.71. The disclosure for this sale can be found here. 3.04% of the stock is currently owned by company insiders.
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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