athenahealth, Inc. (ATHN) Receives Positive Rating from Leerink Swann
athenahealth, Inc. (NASDAQ:ATHN)‘s stock had its “positive” rating reissued by investment analysts at Leerink Swann in a research report issued on Monday, The Fly reports. They presently have a $155.00 target price on the health services provider’s stock, up from their prior target price of $140.00. Leerink Swann’s price objective would suggest a potential downside of 0.60% from the company’s previous close.
ATHN has been the subject of several other research reports. UBS AG reaffirmed a “buy” rating and issued a $152.00 target price (up previously from $123.00) on shares of athenahealth in a research note on Wednesday, May 31st. Citigroup Inc. reaffirmed a “buy” rating and issued a $163.00 target price (up previously from $128.00) on shares of athenahealth in a research note on Monday, June 5th. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $152.00 target price on shares of athenahealth in a research note on Friday, July 14th. Oppenheimer Holdings, Inc. upped their target price on athenahealth from $154.00 to $184.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $190.00 target price (up previously from $130.00) on shares of athenahealth in a research note on Saturday. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. athenahealth has a consensus rating of “Hold” and a consensus price target of $147.24.
athenahealth (ATHN) opened at 155.93 on Monday. athenahealth has a one year low of $90.11 and a one year high of $158.66. The company has a market cap of $6.23 billion, a price-to-earnings ratio of 197.88 and a beta of 1.79. The company has a 50-day moving average of $141.51 and a 200-day moving average of $122.62.
athenahealth (NASDAQ:ATHN) last issued its earnings results on Thursday, July 20th. The health services provider reported $0.51 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.12. The business had revenue of $301.10 million during the quarter, compared to analyst estimates of $298.68 million. athenahealth had a return on equity of 6.91% 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 quarter in the prior year, the firm earned $0.34 earnings per share. Equities research analysts expect that athenahealth will post $1.89 EPS for the current fiscal year.
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In other athenahealth news, SVP Jonathan D. Porter sold 300 shares of the stock in a transaction on Monday, May 15th. The stock was sold at an average price of $109.48, for a total value of $32,844.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brandon H. Hull sold 800 shares of the stock in a transaction on Monday, July 3rd. The stock was 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 have sold 26,105 shares of company stock valued at $3,394,859. 3.20% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in athenahealth by 30,642.6% in the first quarter. BlackRock Inc. now owns 1,599,847 shares of the health services provider’s stock worth $180,286,000 after buying an additional 1,594,643 shares during the period. Morgan Stanley increased its position in athenahealth by 9.7% in the first quarter. Morgan Stanley now owns 4,514,305 shares of the health services provider’s stock worth $508,717,000 after buying an additional 397,837 shares during the period. Clearbridge Investments LLC increased its position in athenahealth by 61.8% in the first quarter. Clearbridge Investments LLC now owns 908,505 shares of the health services provider’s stock worth $102,379,000 after buying an additional 347,133 shares during the period. Credit Suisse AG increased its position in athenahealth by 404.5% in the first quarter. Credit Suisse AG now owns 300,420 shares of the health services provider’s stock worth $33,854,000 after buying an additional 240,876 shares during the period. Finally, Norges Bank purchased a new position in athenahealth during the fourth quarter worth about $20,750,000.
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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