athenahealth Inc. (ATHN) Rating Increased to Buy at Evercore ISI
athenahealth Inc. (NASDAQ:ATHN) was upgraded by stock analysts at Evercore ISI from a “hold” rating to a “buy” rating in a report issued on Monday, The Fly reports.
A number of other equities analysts also recently weighed in on ATHN. Zacks Investment Research downgraded shares of athenahealth from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Morgan Stanley decreased their target price on shares of athenahealth from $186.00 to $153.00 and set an “overweight” rating for the company in a research note on Monday, July 25th. FBR & Co decreased their target price on shares of athenahealth from $145.00 to $140.00 and set a “market perform” rating for the company in a research note on Friday, July 22nd. Canaccord Genuity reaffirmed a “hold” rating and set a $142.00 target price on shares of athenahealth in a research note on Wednesday, June 29th. Finally, Leerink Swann reissued a “hold” rating on shares of athenahealth in a research report on Thursday, June 16th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. athenahealth currently has an average rating of “Hold” and a consensus target price of $149.58.
Shares of athenahealth (NASDAQ:ATHN) opened at 125.97 on Monday. The firm’s 50 day moving average price is $123.18 and its 200 day moving average price is $129.87. The stock has a market cap of $4.96 billion, a P/E ratio of 463.12 and a beta of 1.28. athenahealth has a 52-week low of $114.59 and a 52-week high of $170.42.
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athenahealth (NASDAQ:ATHN) last announced its earnings results 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. athenahealth had a net margin of 1.06% and a return on equity of 5.16%. The business had revenue of $261.90 million for the quarter, compared to the consensus estimate of $274.07 million. On average, analysts expect that athenahealth will post $1.77 EPS for the current year.
In related news, VP Karl Stubelis sold 928 shares of athenahealth stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $123.36, for a total transaction of $114,478.08. Following the transaction, the vice president now owns 1,375 shares in the company, valued at approximately $169,620. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director John A. Kane sold 2,875 shares of athenahealth stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $128.81, for a total transaction of $370,328.75. Following the transaction, the director now owns 10,708 shares in the company, valued at approximately $1,379,297.48. The disclosure for this sale can be found here. Insiders own 3.04% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Loomis Sayles & Co. L P purchased a new position in athenahealth during the first quarter worth $1,871,000. Riverhead Capital Management LLC purchased a new position in athenahealth during the first quarter worth $984,000. State Street Corp boosted its position in athenahealth by 3.2% in the first quarter. State Street Corp now owns 457,047 shares of the company’s stock worth $63,430,000 after buying an additional 14,099 shares during the period. Canada Pension Plan Investment Board purchased a new position in athenahealth during the first quarter worth $5,523,000. Finally, Landscape Capital Management L.L.C. boosted its position in athenahealth by 161.5% in the first quarter. Landscape Capital Management L.L.C. now owns 9,205 shares of the company’s stock worth $1,277,000 after buying an additional 5,685 shares during the period.
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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