Dougherty & Co Raises athenahealth, Inc (ATHN) Price Target to $148.00
athenahealth, Inc (NASDAQ:ATHN) had its target price raised by Dougherty & Co from $123.00 to $148.00 in a report released on Tuesday. The firm currently has a “buy” rating on the health services provider’s stock. Dougherty & Co’s target price would indicate a potential upside of 10.37% from the company’s previous close.
Several other research firms have also recently weighed in on ATHN. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $154.00 price objective (up previously from $119.00) on shares of athenahealth in a report on Monday, May 22nd. Robert W. Baird set a $140.00 price objective on athenahealth and gave the stock a “buy” rating in a report on Thursday, May 18th. Jefferies Group LLC upgraded athenahealth from an “underperform” rating to a “hold” rating and increased their price objective for the stock from $95.00 to $135.00 in a report on Friday, May 19th. Evercore ISI reiterated an “outperform” rating and issued a $147.00 price objective (up previously from $118.00) on shares of athenahealth in a report on Friday, May 19th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $140.00 price objective (up previously from $118.00) on shares of athenahealth in a report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $135.05.
athenahealth (NASDAQ:ATHN) traded up 0.56% during mid-day trading on Tuesday, hitting $134.09. The company’s stock had a trading volume of 366,997 shares. The firm’s 50-day moving average is $114.85 and its 200-day moving average is $112.11. The company has a market cap of $5.34 billion, a P/E ratio of 263.96 and a beta of 1.77. athenahealth has a 12-month low of $90.11 and a 12-month high of $142.40.
athenahealth (NASDAQ:ATHN) last released its quarterly earnings data on Thursday, April 27th. The health services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by $0.01. athenahealth had a return on equity of 6.41% and a net margin of 1.94%. The business had revenue of $285.40 million during the quarter, compared to analysts’ expectations of $296.49 million. During the same quarter last year, the business posted $0.34 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts predict that athenahealth will post $1.89 EPS for the current fiscal year.
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In related news, SVP Jonathan D. Porter sold 300 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $109.48, for a total transaction of $32,844.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bradford Kyle Armbrester sold 2,431 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The shares were sold at an average price of $130.00, for a total value of $316,030.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,331 shares of company stock valued at $2,020,274. 3.04% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Fund Advisors raised its position in athenahealth by 2.3% in the third quarter. BlackRock Fund Advisors now owns 390,624 shares of the health services provider’s stock worth $49,265,000 after buying an additional 8,635 shares during the period. Northern Trust Corp raised its position in athenahealth by 2.9% in the third quarter. Northern Trust Corp now owns 456,464 shares of the health services provider’s stock worth $57,568,000 after buying an additional 12,669 shares during the period. Avalon Global Asset Management LLC raised its position in athenahealth by 9.5% in the third quarter. Avalon Global Asset Management LLC now owns 57,500 shares of the health services provider’s stock worth $7,252,000 after buying an additional 5,000 shares during the period. Bell State Bank & Trust raised its position in athenahealth by 5.7% in the third quarter. Bell State Bank & Trust now owns 2,615 shares of the health services provider’s stock worth $330,000 after buying an additional 142 shares during the period. Finally, Russell Investments Group Ltd. bought a new position in athenahealth during the fourth quarter worth $118,000.
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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