athenahealth Inc. (ATHN) Sees Strong Trading Volume After Analyst Upgrade
athenahealth Inc. (NASDAQ:ATHN) shares saw strong trading volume on Monday after Jefferies Group raised their price target on the stock from $105.00 to $110.00. Jefferies Group currently has an underperform rating on the stock. 329,316 shares changed hands during mid-day trading, an increase of 7% from the previous session’s volume of 308,377 shares.The stock last traded at $124.75 and had previously closed at $123.42.
A number of other equities analysts also recently commented 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 reduced their price objective 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 reduced their price objective 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 restated a “hold” rating and set a $142.00 price objective on shares of athenahealth in a research note on Wednesday, June 29th. Finally, Leerink Swann restated a “hold” rating on shares of athenahealth in a research note on Thursday, June 16th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $149.95.
In other athenahealth news, SVP Bradford Kyle Armbrester sold 2,545 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $130.00, for a total value of $330,850.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Karl Stubelis sold 928 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 1,375 shares in the company, valued at approximately $169,620. The disclosure for this sale can be found here. Corporate insiders own 3.04% of the company’s stock.
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Hedge funds have recently modified their holdings of the stock. Integrated Investment Consultants LLC raised its stake in shares of athenahealth by 13.9% in the third quarter. Integrated Investment Consultants LLC now owns 1,687 shares of the company’s stock worth $213,000 after buying an additional 206 shares in the last quarter. Daiwa SB Investments Ltd. bought a new stake in shares of athenahealth during the third quarter worth $1,009,000. Public Employees Retirement System of Ohio raised its stake in shares of athenahealth by 1.9% in the second quarter. Public Employees Retirement System of Ohio now owns 14,737 shares of the company’s stock worth $2,034,000 after buying an additional 274 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of athenahealth by 5.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 122,658 shares of the company’s stock worth $16,929,000 after buying an additional 5,999 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of athenahealth by 36.3% in the second quarter. Amalgamated Bank now owns 6,216 shares of the company’s stock worth $777,000 after buying an additional 1,655 shares in the last quarter.
The company has a market cap of $4.91 billion, a PE ratio of 458.53 and a beta of 1.28. The firm’s 50 day moving average price is $123.67 and its 200 day moving average price is $129.65.
athenahealth (NASDAQ:ATHN) last posted its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share (EPS) for the quarter, missing the 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 earned $261.90 million during the quarter, compared to the consensus estimate of $274.07 million. Equities research analysts expect that athenahealth Inc. will post $1.77 EPS for the current fiscal year.
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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