athenahealth Inc. (ATHN) Sees Strong Trading Volume on Analyst Upgrade
Shares of athenahealth Inc. (NASDAQ:ATHN) saw an uptick in trading volume on Monday after Jefferies Group raised their price target on the stock from $105.00 to $110.00. Jefferies Group currently has an underperform rating on the stock. 329,316 shares were traded during trading, an increase of 7% from the previous session’s volume of 308,377 shares.The stock last traded at $124.75 and had previously closed at $123.42.
ATHN has been the subject of several other research reports. Canaccord Genuity reaffirmed a “hold” rating and set a $142.00 target price on shares of athenahealth in a research note on Wednesday, June 29th. Stifel Nicolaus initiated coverage on athenahealth in a report on Wednesday, August 31st. They set a “hold” rating for the company. FBR & Co reduced 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 downgraded athenahealth from a “buy” rating to a “hold” rating and reduced their target price for the company from $165.00 to $147.00 in a report on Friday, July 22nd. Finally, Zacks Investment Research downgraded athenahealth from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 12th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $149.95.
In other news, Director Brandon H. Hull sold 2,400 shares of athenahealth stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $130.00, for a total transaction of $312,000.00. Following the sale, the director now owns 3,987 shares of the company’s stock, valued at approximately $518,310. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Bradford Kyle Armbrester sold 2,545 shares of athenahealth stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $130.00, for a total value of $330,850.00. The disclosure for this sale can be found here. 3.04% of the stock is owned by company insiders.
Several hedge funds have recently made changes to their positions in the company. Advisor Group Inc. purchased a new stake in shares of athenahealth during the second quarter valued at $118,000. FineMark National Bank & Trust raised its stake in shares of 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 during the last quarter. KBC Group NV purchased a new stake in shares of athenahealth during the second quarter valued at $135,000. Societe Generale purchased a new stake in shares of athenahealth during the second quarter valued at $176,000. Finally, 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 valued at $176,000 after buying an additional 277 shares during the last quarter.
The firm has a 50 day moving average of $123.72 and a 200 day moving average of $129.32. The stock has a market cap of $4.86 billion, a P/E ratio of 454.19 and a beta of 1.28.
athenahealth (NASDAQ:ATHN) last issued its quarterly earnings results on Thursday, July 21st. The company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.42 by $0.08. The firm earned $261.90 million during the quarter, compared to the consensus estimate of $274.07 million. athenahealth had a net margin of 1.06% and a return on equity of 5.16%. On average, equities research analysts expect that athenahealth Inc. will post $1.77 earnings per share for the current fiscal year.
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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