athenahealth, Inc. (NASDAQ:ATHN) Given Buy Rating at Citigroup Inc.
athenahealth, Inc. (NASDAQ:ATHN)‘s stock had its “buy” rating reaffirmed by equities researchers at Citigroup Inc. in a research report issued to clients and investors on Monday. They currently have a $186.00 price target on the health services provider’s stock, up from their previous price target of $169.00. Citigroup Inc.’s price objective would indicate a potential upside of 20.13% from the stock’s current price.
ATHN has been the subject of several other reports. UBS AG reissued a “buy” rating and set a $152.00 price objective (up from $123.00) on shares of athenahealth in a research note on Wednesday, May 31st. Piper Jaffray Companies reissued a “buy” rating and set a $152.00 price objective on shares of athenahealth in a research note on Friday, July 14th. Oppenheimer Holdings, Inc. raised their price objective on athenahealth from $154.00 to $184.00 and gave the stock an “outperform” rating in a research note on Friday. Wells Fargo & Company reissued an “outperform” rating and set a $190.00 price objective (up from $130.00) on shares of athenahealth in a research note on Saturday. Finally, BidaskClub lowered athenahealth from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $148.05.
athenahealth (ATHN) traded down 0.71% during trading on Monday, hitting $154.83. The stock had a trading volume of 615,345 shares. The stock has a market cap of $6.18 billion, a PE ratio of 196.48 and a beta of 1.79. The firm’s 50-day moving average price is $141.51 and its 200-day moving average price is $122.62. athenahealth has a 1-year low of $90.11 and a 1-year high of $156.86.
athenahealth (NASDAQ:ATHN) last released its quarterly earnings data on Thursday, July 20th. The health services provider reported $0.51 earnings per share for the quarter, topping the 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%. The company’s revenue was up 15.0% compared to the same quarter last year. During the same period last year, the company posted $0.34 EPS. On average, equities research analysts predict that athenahealth will post $1.89 earnings per share for the current fiscal year.
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In related news, SVP Bradford Kyle Armbrester sold 2,431 shares of athenahealth 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brandon H. Hull sold 1,600 shares of athenahealth stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $130.00, for a total value of $208,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,105 shares of company stock worth $3,394,859. 3.20% of the stock is currently owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS increased its stake in athenahealth by 6.0% in the second quarter. Kornitzer Capital Management Inc. KS now owns 220,965 shares of the health services provider’s stock worth $30,495,000 after buying an additional 12,430 shares during the last quarter. Norges Bank bought a new stake in athenahealth during the fourth quarter worth $20,750,000. Morgan Stanley increased its stake in athenahealth by 3.5% in the fourth quarter. Morgan Stanley now owns 3,927,997 shares of the health services provider’s stock worth $632,290,000 after buying an additional 131,022 shares during the last quarter. Reynolds Capital Management bought a new stake in athenahealth during the fourth quarter worth $338,000. Finally, CIBC World Markets bought a new stake in athenahealth during the fourth quarter worth $1,620,000.
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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