athenahealth, Inc. (ATHN) Issues Earnings Results, Beats Expectations By $0.12 EPS
athenahealth, Inc. (NASDAQ:ATHN) released its quarterly earnings results on Thursday. The health services provider reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.12, Bloomberg Earnings reports. The business had revenue of $301.10 million during the quarter, compared to analyst estimates of $298.68 million. athenahealth had a net margin of 1.84% and a return on equity of 5.93%. The business’s revenue was up 15.0% on a year-over-year basis. During the same period last year, the business earned $0.34 EPS.
athenahealth (NASDAQ:ATHN) traded up 0.29% on Thursday, hitting $143.80. 2,805,349 shares of the stock traded hands. The firm has a market cap of $5.73 billion, a price-to-earnings ratio of 283.07 and a beta of 1.79. athenahealth has a 12-month low of $90.11 and a 12-month high of $149.55. The stock has a 50-day moving average of $141.23 and a 200-day moving average of $122.47.
In other news, CEO Jonathan Bush sold 8,000 shares of the company’s 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 sale, the chief executive officer now owns 319,807 shares of the company’s stock, valued at approximately $38,376,840. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Bradford Kyle Armbrester sold 2,431 shares of the company’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $130.00, for a total transaction of $316,030.00. The disclosure for this sale can be found here. Insiders sold a total of 25,683 shares of company stock worth $3,329,871 in the last three months. Insiders own 3.20% of the company’s stock.
A number of equities research analysts recently weighed in on the stock. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $142.00 price target on shares of athenahealth in a report on Wednesday, April 19th. UBS AG set a $123.00 price target on shares of athenahealth and gave the company a “buy” rating in a report on Monday, May 1st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $152.00 price target on shares of athenahealth in a report on Friday, July 14th. Barclays PLC set a $88.00 price target on shares of athenahealth and gave the company an “underweight” rating in a report on Monday, May 1st. Finally, Leerink Swann set a $140.00 price target on shares of athenahealth and gave the company a “hold” rating in a report on Friday, May 19th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company. athenahealth has an average rating of “Hold” and a consensus price target of $141.00.
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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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