athenahealth, Inc. (ATHN) Raised to B- at TheStreet
athenahealth, Inc. (NASDAQ:ATHN) was upgraded by equities researchers at TheStreet from a “c” rating to a “b-” rating in a note issued to investors on Thursday.
Other research analysts have also recently issued research reports about the stock. Jefferies Group LLC restated a “sell” rating and set a $95.00 target price on shares of athenahealth in a report on Friday, March 24th. Piper Jaffray Companies restated an “overweight” rating and set a $160.00 target price on shares of athenahealth in a report on Tuesday, April 4th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $142.00 target price on shares of athenahealth in a report on Wednesday, April 19th. Cantor Fitzgerald restated a “buy” rating and set a $118.00 target price (down previously from $135.00) on shares of athenahealth in a report on Thursday, April 27th. Finally, Barclays PLC set a $88.00 target price on shares of athenahealth and gave the stock an “underweight” rating in a report on Monday, May 1st. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company. athenahealth has a consensus rating of “Hold” and an average price target of $146.45.
athenahealth (NASDAQ ATHN) traded up 8.44% during midday trading on Thursday, reaching $155.93. 2,286,356 shares of the company’s stock were exchanged. The stock has a market cap of $6.23 billion, a P/E ratio of 197.88 and a beta of 1.79. athenahealth has a 1-year low of $90.11 and a 1-year high of $158.66. The firm’s 50-day moving average is $141.51 and its 200 day moving average is $122.62.
athenahealth (NASDAQ:ATHN) last released its quarterly earnings results on Thursday, July 20th. The health services provider reported $0.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.12. The company had revenue of $301.10 million during the quarter, compared to analysts’ expectations of $298.68 million. athenahealth had a net margin of 2.80% and a return on equity of 7.11%. The business’s quarterly revenue was up 15.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 earnings per share. Equities analysts anticipate that athenahealth will post $1.86 earnings per share for the current fiscal year.
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In other athenahealth news, CEO Jonathan Bush sold 4,000 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $140.52, for a total transaction of $562,080.00. Following the sale, the chief executive officer now directly owns 319,807 shares in the company, valued at $44,939,279.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Jonathan D. Porter sold 300 shares of the stock in a transaction dated Monday, May 15th. The stock was 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 have sold 26,105 shares of company stock worth $3,394,859 over the last quarter. Corporate insiders own 3.20% of the company’s stock.
A number of large investors have recently made changes to their positions in ATHN. Reynolds Capital Management purchased a new stake in shares of athenahealth during the fourth quarter worth about $338,000. Tygh Capital Management Inc. increased its stake in athenahealth by 105.7% in the fourth quarter. Tygh Capital Management Inc. now owns 24,200 shares of the health services provider’s stock worth $3,895,000 after buying an additional 12,435 shares during the last quarter. Janus Capital Management increased its stake in athenahealth by 0.4% in the third quarter. Janus Capital Management now owns 3,528,584 shares of the health services provider’s stock worth $470,541,000 after buying an additional 14,767 shares during the last quarter. Simplex Trading increased its stake in athenahealth by 261.3% in the fourth quarter. Simplex Trading now owns 6,500 shares of the health services provider’s stock worth $1,046,000 after buying an additional 4,701 shares during the last quarter. Finally, Huntington National Bank increased its stake in athenahealth by 0.3% in the fourth quarter. Huntington National Bank now owns 47,820 shares of the health services provider’s stock worth $7,697,000 after buying an additional 162 shares during the last quarter.
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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