Zacks: Brokerages Expect athenahealth, Inc. (ATHN) Will Announce Quarterly Sales of $298.48 Million
Equities research analysts predict that athenahealth, Inc. (NASDAQ:ATHN) will post sales of $298.48 million for the current quarter, according to Zacks Investment Research. Twelve analysts have issued estimates for athenahealth’s earnings, with estimates ranging from $291.00 million to $306.25 million. athenahealth posted sales of $261.94 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.9%. The business is expected to issue its next earnings results on Thursday, July 20th.
On average, analysts expect that athenahealth will report full year sales of $298.48 million for the current year, with estimates ranging from $1.20 billion to $1.32 billion. For the next fiscal year, analysts expect that the company will post sales of $1.39 billion per share, with estimates ranging from $1.34 billion to $1.45 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover athenahealth.
athenahealth (NASDAQ:ATHN) last posted its quarterly earnings results on Thursday, April 27th. The health services provider reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. The business had revenue of $285.40 million for the quarter, compared to the consensus estimate of $296.49 million. athenahealth had a net margin of 1.84% and a return on equity of 5.93%. athenahealth’s revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share.
Several equities research analysts have recently issued reports on ATHN shares. Cantor Fitzgerald reissued a “buy” rating and set a $118.00 target price (down from $135.00) on shares of athenahealth in a research note on Thursday, April 27th. Piper Jaffray Companies reissued an “overweight” rating and set a $160.00 target price on shares of athenahealth in a research note on Tuesday, April 4th. Citigroup Inc. reissued a “buy” rating and set a $163.00 target price (up from $128.00) on shares of athenahealth in a research note on Monday, June 5th. Evercore ISI reissued an “outperform” rating and set a $147.00 target price (up from $118.00) on shares of athenahealth in a research note on Friday, May 19th. Finally, Jefferies Group LLC reissued a “sell” rating and set a $95.00 target price on shares of athenahealth in a research note on Friday, March 24th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. athenahealth has a consensus rating of “Hold” and an average target price of $138.74.
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In other athenahealth news, CEO Jonathan Bush sold 8,000 shares of the stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $120.00, for a total value of $960,000.00. Following the completion of the sale, the chief executive officer now owns 319,807 shares in the company, valued at approximately $38,376,840. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Jonathan D. Porter sold 300 shares of the stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.27, for a total transaction of $42,681.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,583 shares of company stock valued at $2,612,204. 3.20% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Russell Investments Group Ltd. purchased a new stake in shares of athenahealth during the fourth quarter worth about $118,000. State Board of Administration of Florida Retirement System increased its stake in shares of athenahealth by 1.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 57,608 shares of the health services provider’s stock worth $6,059,000 after buying an additional 1,068 shares in the last quarter. Comerica Bank purchased a new stake in shares of athenahealth during the fourth quarter worth about $299,000. Baird Financial Group Inc. increased its stake in shares of athenahealth by 7.8% in the fourth quarter. Baird Financial Group Inc. now owns 11,713 shares of the health services provider’s stock worth $1,232,000 after buying an additional 851 shares in the last quarter. Finally, Trexquant Investment LP purchased a new stake in shares of athenahealth during the fourth quarter worth about $593,000.
Shares of athenahealth (NASDAQ:ATHN) opened at 145.63 on Wednesday. The firm’s 50-day moving average price is $127.14 and its 200-day moving average price is $116.94. athenahealth has a 12-month low of $90.11 and a 12-month high of $146.75. The company has a market capitalization of $5.80 billion, a PE ratio of 286.67 and a beta of 1.81.
athenahealth Company Profile
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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