athenahealth, Inc. (NASDAQ:ATHN) Downgraded by BidaskClub
BidaskClub lowered shares of athenahealth, Inc. (NASDAQ:ATHN) from a hold rating to a sell rating in a research report report published on Tuesday.
A number of other research analysts have also recently weighed in on the stock. Cowen and Company cut shares of athenahealth from an outperform rating to a market perform rating and lifted their price target for the company from $127.00 to $133.00 in a research report on Monday, July 31st. ValuEngine raised shares of athenahealth from a sell rating to a hold rating in a research report on Monday, July 24th. Citigroup Inc. reaffirmed a buy rating and set a $186.00 price target (up from $169.00) on shares of athenahealth in a research report on Monday, July 24th. Leerink Swann reaffirmed a positive rating and set a $155.00 price target (up from $140.00) on shares of athenahealth in a research report on Monday, July 24th. Finally, UBS AG reaffirmed a positive rating and set a $175.00 price target (up from $157.00) on shares of athenahealth in a research report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. athenahealth currently has an average rating of Hold and a consensus price target of $148.64.
Shares of athenahealth (ATHN) opened at 141.45 on Tuesday. The stock has a market capitalization of $5.65 billion, a P/E ratio of 179.51 and a beta of 1.77. The company’s 50-day moving average is $143.27 and its 200 day moving average is $124.42. athenahealth has a 52 week low of $90.11 and a 52 week high of $158.66.
athenahealth (NASDAQ:ATHN) last announced its quarterly earnings results on Thursday, July 20th. The health services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. The firm had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $298.68 million. athenahealth had a net margin of 2.80% and a return on equity of 6.91%. athenahealth’s revenue was up 15.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 earnings per share. On average, equities analysts forecast that athenahealth will post $1.91 EPS for the current fiscal year.
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In other athenahealth news, CFO Karl Stubelis sold 3,952 shares of athenahealth stock in a transaction on Monday, June 5th. The shares were sold at an average price of $138.98, for a total value of $549,248.96. Following the completion of the transaction, the chief financial officer now owns 21,810 shares of the company’s stock, valued at $3,031,153.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Bradford Kyle Armbrester sold 2,431 shares of athenahealth stock in a transaction on Thursday, May 18th. The stock was sold at an average price of $130.00, for a total transaction of $316,030.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,905 shares of company stock valued at $3,120,107. Insiders own 3.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. Wesbanco Bank Inc. acquired a new position in athenahealth during the first quarter worth approximately $714,000. Russell Investments Group Ltd. increased its position in athenahealth by 380.8% in the first quarter. Russell Investments Group Ltd. now owns 5,409 shares of the health services provider’s stock worth $609,000 after buying an additional 4,284 shares in the last quarter. Nikko Asset Management Americas Inc. increased its position in athenahealth by 113.5% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,900 shares of the health services provider’s stock worth $890,000 after buying an additional 4,200 shares in the last quarter. Barton Investment Management increased its position in 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 in the last quarter. Finally, Riverbridge Partners LLC increased its position in 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 in 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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