athenahealth Inc. (ATHN) Raised to “Buy” at Evercore ISI
athenahealth Inc. (NASDAQ:ATHN) was upgraded by Evercore ISI from a “hold” rating to a “buy” rating in a report issued on Monday. The firm presently has a $152.00 price objective on the stock. Evercore ISI’s target price would indicate a potential upside of 20.66% from the stock’s previous close.
A number of other brokerages have also recently weighed in on ATHN. Morgan Stanley decreased their price objective on athenahealth from $186.00 to $153.00 and set an “overweight” rating on the stock in a report on Monday, July 25th. Jefferies Group restated an “underperform” rating and set a $105.00 price target on shares of athenahealth in a research report on Monday, July 25th. Zacks Investment Research lowered athenahealth from a “hold” rating to a “sell” rating in a research report on Friday, July 29th. Leerink Swann restated a “hold” rating on shares of athenahealth in a research report on Thursday, June 16th. Finally, Deutsche Bank AG lowered athenahealth from a “buy” rating to a “hold” rating and reduced their price target for the stock from $165.00 to $147.00 in a research report on Friday, July 22nd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $149.70.
Shares of athenahealth (NASDAQ:ATHN) traded up 3.17% during trading on Monday, hitting $129.96. The stock had a trading volume of 457,026 shares. The firm has a 50 day moving average price of $123.18 and a 200-day moving average price of $129.87. athenahealth has a 52 week low of $114.59 and a 52 week high of $170.42. The stock has a market capitalization of $5.11 billion, a price-to-earnings ratio of 477.79 and a beta of 1.28.
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athenahealth (NASDAQ:ATHN) last announced its quarterly earnings data on Thursday, July 21st. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.08. The firm had revenue of $261.90 million for the quarter, compared to analysts’ expectations 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 forecast that athenahealth will post $1.77 EPS for the current fiscal year.
In related news, CEO Jonathan Bush sold 4,000 shares of athenahealth stock in a transaction on Monday, October 3rd. The stock was sold at an average price of $124.34, for a total value of $497,360.00. Following the completion of the sale, the chief executive officer now owns 312,109 shares of the company’s stock, valued at $38,807,633.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Karl Stubelis sold 928 shares of athenahealth stock in a transaction on Wednesday, September 7th. The stock was sold at an average price of $123.36, for a total value of $114,478.08. Following the completion of the sale, the vice president now directly owns 1,375 shares of the company’s stock, valued at approximately $169,620. The disclosure for this sale can be found here. 3.04% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of ATHN. Glenmede Trust Co. NA raised its stake in athenahealth by 66.3% in the first quarter. Glenmede Trust Co. NA now owns 6,253 shares of the company’s stock valued at $867,000 after buying an additional 2,492 shares in the last quarter. Aperio Group LLC raised its stake in athenahealth by 11.6% in the first quarter. Aperio Group LLC now owns 3,429 shares of the company’s stock valued at $476,000 after buying an additional 357 shares in the last quarter. Pacad Investment Ltd. bought a new stake in athenahealth during the first quarter valued at about $222,000. Franklin Resources Inc. raised its stake in athenahealth by 10.8% in the first quarter. Franklin Resources Inc. now owns 544,811 shares of the company’s stock valued at $75,609,000 after buying an additional 53,300 shares in the last quarter. Finally, BlackRock Inc. raised its stake in athenahealth by 273.8% in the first quarter. BlackRock Inc. now owns 4,508 shares of the company’s stock valued at $625,000 after buying an additional 3,302 shares in the last quarter.
athenahealth Company Profile
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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