Evercore ISI Reaffirms “Outperform” Rating for athenahealth, Inc. (ATHN)
athenahealth, Inc. (NASDAQ:ATHN)‘s stock had its “outperform” rating reissued by equities researchers at Evercore ISI in a research report issued on Saturday. They presently have a $163.00 price target on the health services provider’s stock, up from their previous price target of $155.00. Evercore ISI’s price objective would suggest a potential upside of 4.53% from the stock’s previous close.
A number of other equities analysts have also issued reports on ATHN. Jefferies Group LLC reiterated a “sell” rating and issued a $95.00 price target on shares of athenahealth in a report on Friday, March 24th. Piper Jaffray Companies reiterated an “overweight” rating and issued a $160.00 price target on shares of athenahealth in a report on Tuesday, April 4th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $142.00 price target on shares of athenahealth in a report on Wednesday, April 19th. Cantor Fitzgerald reiterated a “buy” rating and issued a $118.00 price target (down from $135.00) on shares of athenahealth in a report on Thursday, April 27th. Finally, Barclays PLC set a $88.00 price target on athenahealth and gave the company an “underweight” rating in a report on Monday, May 1st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the stock. athenahealth currently has a consensus rating of “Hold” and an average target price of $146.18.
athenahealth (NASDAQ ATHN) traded up 8.44% during mid-day trading on Friday, reaching $155.93. 2,286,356 shares of the company were exchanged. The stock has a 50-day moving average of $141.51 and a 200 day moving average of $122.62. The firm has a market capitalization of $6.21 billion, a P/E ratio of 306.95 and a beta of 1.79. athenahealth has a 1-year low of $90.11 and a 1-year high of $158.66.
athenahealth (NASDAQ:ATHN) last released its quarterly earnings results on Thursday, July 20th. The health services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.39 by $0.12. The firm had revenue of $301.10 million for the quarter, compared to analyst estimates of $298.68 million. athenahealth had a return on equity of 7.11% and a net margin of 2.80%. athenahealth’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.34 EPS. Equities research analysts forecast that athenahealth will post $1.86 earnings per share for the current year.
In other news, SVP Jonathan D. Porter sold 300 shares of the company’s stock in a transaction 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 filing with the Securities & Exchange Commission, which is available through this link. Also, Director Brandon H. Hull sold 800 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $140.81, for a total value of $112,648.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,105 shares of company stock valued at $3,394,859. Insiders own 3.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new position in athenahealth during the fourth quarter valued at $118,000. Comerica Bank acquired a new position in athenahealth during the fourth quarter valued at $299,000. GSA Capital Partners LLP acquired a new position in athenahealth during the fourth quarter valued at $307,000. Norges Bank acquired a new position in athenahealth during the fourth quarter valued at $20,750,000. Finally, Quadrature Capital Ltd acquired a new position in athenahealth during the fourth quarter valued at $5,759,000.
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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