Piper Jaffray Companies Reiterates “Buy” Rating for athenahealth, Inc. (ATHN)
athenahealth, Inc. (NASDAQ:ATHN)‘s stock had its “buy” rating restated by equities researchers at Piper Jaffray Companies in a research note issued to investors on Friday. They presently have a $152.00 price target on the health services provider’s stock. Piper Jaffray Companies’ target price would indicate a potential upside of 7.06% from the company’s current price.
Other analysts have also recently issued reports about the stock. UBS AG set a $123.00 price target on shares of athenahealth and gave the company a “buy” rating in a research note on Monday, May 1st. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $142.00 price target on shares of athenahealth in a research note on Wednesday, April 19th. Barclays PLC set a $88.00 price target on shares of athenahealth and gave the company an “underweight” rating in a research note on Monday, May 1st. Leerink Swann set a $140.00 price target on shares of athenahealth and gave the company a “hold” rating in a research note on Friday, May 19th. Finally, Dougherty & Co increased their price target on shares of athenahealth from $123.00 to $148.00 and gave the company a “buy” rating in a research note on Tuesday, May 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $139.81.
athenahealth (ATHN) opened at 141.97 on Friday. athenahealth has a 12 month low of $90.11 and a 12 month high of $149.55. The firm has a market capitalization of $5.66 billion, a P/E 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 posted 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. The firm had revenue of $285.40 million for the quarter, compared to analyst estimates of $296.49 million. athenahealth had a return on equity of 5.93% and a net margin of 1.84%. The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.34 EPS. On average, analysts forecast that athenahealth will post $1.86 earnings per share for the current year.
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In related news, Director Brandon H. Hull sold 800 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $140.81, for a total transaction of $112,648.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan D. Porter sold 300 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $109.48, for a total transaction of $32,844.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 25,383 shares of company stock worth $3,286,932. 3.20% of the stock is currently owned by company insiders.
Several large investors have recently modified their holdings of the company. Barton Investment Management raised its stake in shares of athenahealth by 3.9% in the first quarter. Barton Investment Management now owns 225,346 shares of the health services provider’s stock worth $25,394,000 after buying an additional 8,511 shares during the last quarter. Riverbridge Partners LLC raised its stake in shares of athenahealth by 2.0% in the first quarter. Riverbridge Partners LLC now owns 1,057,142 shares of the health services provider’s stock worth $119,129,000 after buying an additional 20,971 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of athenahealth during the first quarter worth approximately $473,000. Fox Run Management L.L.C. raised its stake in shares of athenahealth by 27.3% in the first quarter. Fox Run Management L.L.C. now owns 6,621 shares of the health services provider’s stock worth $746,000 after buying an additional 1,421 shares during the last quarter. Finally, Bank of Montreal Can raised its stake in shares of athenahealth by 169.2% in the first quarter. Bank of Montreal Can now owns 44,156 shares of the health services provider’s stock worth $4,976,000 after buying an additional 27,753 shares during the last quarter.
athenahealth Company Profile
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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