athenahealth, Inc. (NASDAQ:ATHN) Given Overweight Rating at Piper Jaffray Companies
athenahealth, Inc. (NASDAQ:ATHN)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Jaffray Companies in a research note issued to investors on Friday, The Fly reports. They currently have a $171.00 price objective on the health services provider’s stock. Piper Jaffray Companies’ price target would indicate a potential upside of 9.66% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other research firms have also recently weighed in on ATHN. BidaskClub raised shares of athenahealth from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Jefferies Group LLC reaffirmed a “hold” rating and set a $135.00 target price on shares of athenahealth in a research note on Monday, June 26th. William Blair reaffirmed a “market perform” rating on shares of athenahealth in a research note on Friday. J P Morgan Chase & Co set a $136.00 target price on shares of athenahealth and gave the stock a “hold” rating in a research note on Wednesday. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $150.00 target price on shares of athenahealth in a research note on Monday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $143.33.
athenahealth (ATHN) traded up 8.44% during midday trading on Friday, reaching $155.93. The company had a trading volume of 2,286,356 shares. athenahealth has a one year low of $90.11 and a one year high of $158.66. The company has a market capitalization of $6.21 billion, a PE ratio of 306.95 and a beta of 1.79. The stock’s 50 day moving average is $141.51 and its 200 day moving average is $122.62.
athenahealth (NASDAQ:ATHN) last announced its quarterly earnings data on Thursday, July 20th. The health services provider reported $0.51 EPS for the quarter, beating the consensus estimate of $0.39 by $0.12. athenahealth had a net margin of 1.84% and a return on equity of 5.93%. The business had revenue of $301.10 million during the quarter, compared to the consensus estimate of $298.68 million. During the same period in the previous year, the business earned $0.34 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis. Equities research analysts forecast that athenahealth will post $1.86 earnings per share for the current fiscal year.
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In other news, CEO Jonathan Bush sold 4,000 shares of the stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $140.52, for a total transaction of $562,080.00. Following the completion of the transaction, the chief executive officer now directly owns 319,807 shares of the company’s stock, valued at approximately $44,939,279.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jonathan D. Porter sold 300 shares of the stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $109.48, for a total transaction of $32,844.00. The disclosure for this sale can be found here. Insiders sold a total of 26,105 shares of company stock valued at $3,394,859 over the last ninety days. 3.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ATHN. FNY Partners Fund LP increased its position in athenahealth by 1,900.0% in the first quarter. FNY Partners Fund LP now owns 1,000 shares of the health services provider’s stock valued at $112,000 after buying an additional 950 shares during the period. Russell Investments Group Ltd. acquired a new position in athenahealth during the fourth quarter valued at approximately $118,000. Teza Capital Management LLC acquired a new position in athenahealth during the first quarter valued at approximately $220,000. Comerica Bank acquired a new position in athenahealth during the fourth quarter valued at approximately $299,000. Finally, Arxis Securities LLC acquired a new position in athenahealth during the first quarter valued at approximately $304,000.
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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