athenahealth Trading Down 4.1% After Insider Selling (ATHN)
athenahealth (NASDAQ:ATHN) shares fell 4.1% on Monday after an insider sold shares in the company, American Banking News.com reports. The stock traded as low as $132.65 and last traded at $139.60, with a volume of 1,164,663 shares. The stock had previously closed at $145.58.
Specifically, Insider Stephen Kahane sold 10,000 shares of athenahealth stock on the open market in a transaction dated Wednesday, April 16th. The shares were sold at an average price of $143.96, for a total value of $1,439,600.00. Following the transaction, the insider now directly owns 69,285 shares of the company’s stock, valued at approximately $9,974,269. The sale was disclosed in a filing with the SEC, which is available at this link.
Several analysts have recently commented on the stock. Analysts at B. Riley cut their price target on shares of athenahealth to $150.00 in a research note on Monday. They now have a “neutral” rating on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of athenahealth in a research note on Monday. They now have a $153.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “equal weight” rating on shares of athenahealth in a research note on Monday. They now have a $133.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, fifteen have given a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $165.61.
The stock has a 50-day moving average of $169.2 and a 200-day moving average of $146.1. The company’s market cap is $5.234 billion.
athenahealth (NASDAQ:ATHN) last posted its quarterly earnings results on Thursday, April 17th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by $0.05. The company had revenue of $163.00 million for the quarter, compared to the consensus estimate of $170.03 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 29.8% on a year-over-year basis. Analysts expect that athenahealth will post $1.08 EPS for the current fiscal year.
athenahealth, Inc (NASDAQ:ATHN), is a business services company, which provides ongoing billing, clinical-related, and other related services to its customers.
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