athenahealth, Inc. (ATHN) Rating Lowered to Sell at BidaskClub
BidaskClub lowered shares of athenahealth, Inc. (NASDAQ:ATHN) from a hold rating to a sell rating in a report released on Wednesday.
Several other equities research analysts also recently weighed in on the company. Jefferies Group LLC reissued a sell rating and set a $95.00 price objective on shares of athenahealth in a report on Friday, March 24th. Citigroup Inc. set a $128.00 target price on athenahealth and gave the stock a buy rating in a research report on Monday, May 1st. Cantor Fitzgerald reaffirmed a buy rating and set a $118.00 target price (down from $135.00) on shares of athenahealth in a research report on Thursday, April 27th. Piper Jaffray Companies reaffirmed an overweight rating and set a $160.00 target price on shares of athenahealth in a research report on Tuesday, April 4th. Finally, Evercore ISI reaffirmed an outperform rating and set a $147.00 target price (up from $118.00) on shares of athenahealth in a research report on Friday, May 19th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus price target of $139.81.
Shares of athenahealth (ATHN) opened at 141.97 on Wednesday. athenahealth has a one year low of $90.11 and a one year high of $149.55. The firm has a market cap of $5.66 billion, a price-to-earnings ratio of 279.47 and a beta of 1.79. The stock’s 50 day moving average price is $135.17 and its 200 day moving average price is $119.14.
athenahealth (NASDAQ:ATHN) last released its quarterly earnings data on Thursday, April 27th. The health services provider reported $0.10 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. athenahealth had a net margin of 1.84% and a return on equity of 5.93%. The firm had revenue of $285.40 million for the quarter, compared to analyst estimates of $296.49 million. During the same period last year, the business earned $0.34 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. On average, equities analysts anticipate that athenahealth will post $1.86 earnings per share for the current fiscal year.
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In other athenahealth news, SVP Jonathan D. Porter sold 300 shares of the company’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $109.48, for a total transaction of $32,844.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jonathan Bush sold 8,000 shares of the company’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $120.00, for a total transaction of $960,000.00. Following the sale, the chief executive officer now owns 319,807 shares of the company’s stock, valued at $38,376,840. The disclosure for this sale can be found here. Insiders sold 25,383 shares of company stock valued at $3,286,932 over the last quarter. 3.20% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. BlackRock Inc. raised its stake in athenahealth by 30,642.6% in the first quarter. BlackRock Inc. now owns 1,599,847 shares of the health services provider’s stock valued at $180,286,000 after buying an additional 1,594,643 shares during the last quarter. Morgan Stanley raised its stake in athenahealth by 9.7% in the first quarter. Morgan Stanley now owns 4,514,305 shares of the health services provider’s stock worth $508,717,000 after buying an additional 397,837 shares in the last quarter. Clearbridge Investments LLC raised its stake in athenahealth by 61.8% in the first quarter. Clearbridge Investments LLC now owns 908,505 shares of the health services provider’s stock worth $102,379,000 after buying an additional 347,133 shares in the last quarter. Camber Capital Management LLC purchased a new stake in athenahealth during the fourth quarter worth $31,551,000. Finally, Credit Suisse AG raised its stake in athenahealth by 404.5% in the first quarter. Credit Suisse AG now owns 300,420 shares of the health services provider’s stock worth $33,854,000 after buying an additional 240,876 shares in the last quarter.
athenahealth, Inc provides network-based medical record, revenue cycle, patient engagement, care coordination and population health services. The Company also offers Epocrates and other point-of-care mobile applications. The Company delivers majority of its service offerings through a single instance of cloud-based software, athenaNet.
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