athenahealth, Inc. (ATHN) Raised to “Buy” at BidaskClub
athenahealth, Inc. (NASDAQ:ATHN) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Saturday.
A number of other equities research analysts also recently weighed in on ATHN. Jefferies Group LLC reaffirmed a “sell” rating and set a $95.00 price target on shares of athenahealth in a research note on Friday, March 24th. Piper Jaffray Companies reissued an “overweight” rating and issued a $160.00 price objective on shares of athenahealth in a research note on Tuesday, April 4th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and issued a $142.00 price objective on shares of athenahealth in a research note on Wednesday, April 19th. Cantor Fitzgerald reissued a “buy” rating and issued a $118.00 price objective (down from $135.00) on shares of athenahealth in a research note on Thursday, April 27th. Finally, Barclays PLC set a $88.00 price objective on athenahealth and gave the company an “underweight” rating in a research note on Monday, May 1st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company. athenahealth has a consensus rating of “Hold” and an average target price of $138.74.
Shares of athenahealth (ATHN) traded down 2.00% during mid-day trading on Friday, hitting $145.54. The stock had a trading volume of 619,672 shares. The firm has a market cap of $5.80 billion, a price-to-earnings ratio of 286.50 and a beta of 1.81. athenahealth has a one year low of $90.11 and a one year high of $148.69. The company has a 50-day moving average of $127.14 and a 200 day moving average of $116.94.
athenahealth (NASDAQ:ATHN) last posted its quarterly earnings results on Thursday, April 27th. The health services provider reported $0.10 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. athenahealth had a return on equity of 5.93% and a net margin of 1.84%. The firm had revenue of $285.40 million for the quarter, compared to analysts’ expectations of $296.49 million. During the same period last year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 11.4% on a year-over-year basis. On average, equities research analysts forecast that athenahealth will post $1.88 earnings per share for the current year.
In other news, SVP Jonathan D. Porter sold 300 shares of athenahealth 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Brandon H. Hull sold 1,600 shares of athenahealth stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $130.00, for a total value of $208,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 20,583 shares of company stock worth $2,612,204 in the last three months. 3.20% of the stock is owned by insiders.
Hedge funds have recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of athenahealth during the fourth quarter valued at $20,750,000. Rockefeller Financial Services Inc. raised its stake in shares of athenahealth by 13.1% in the first quarter. Rockefeller Financial Services Inc. now owns 8,445 shares of the health services provider’s stock valued at $952,000 after buying an additional 975 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of athenahealth by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 74,094 shares of the health services provider’s stock valued at $7,792,000 after buying an additional 2,190 shares during the last quarter. Highbridge Capital Management LLC purchased a new stake in shares of athenahealth during the fourth quarter valued at $13,599,000. Finally, GSA Capital Partners LLP purchased a new stake in shares of athenahealth during the fourth quarter valued at $307,000.
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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