athenahealth, Inc. (ATHN) Receives Average Rating of “Hold” from Analysts
athenahealth, Inc. (NASDAQ:ATHN) has been given an average recommendation of “Hold” by the twenty-eight ratings firms that are covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and thirteen have given a buy recommendation to the company. The average 12 month price target among analysts that have covered the stock in the last year is $148.67.
A number of equities analysts have recently issued reports on the company. Morgan Stanley reissued an “equal weight” rating and issued a $125.00 target price (up from $108.00) on shares of athenahealth in a report on Wednesday, August 2nd. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $170.00 price target (up from $150.00) on shares of athenahealth in a report on Wednesday, August 2nd. BidaskClub cut athenahealth from a “hold” rating to a “sell” rating in a report on Tuesday, August 1st. Cowen and Company cut athenahealth from an “outperform” rating to a “market perform” rating and raised their price target for the company from $127.00 to $133.00 in a report on Monday, July 31st. Finally, ValuEngine raised athenahealth from a “sell” rating to a “hold” rating in a report on Monday, July 24th.
In related news, CFO Karl Stubelis sold 3,952 shares of athenahealth stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $138.98, for a total value of $549,248.96. Following the sale, the chief financial officer now owns 21,810 shares of the company’s stock, valued at $3,031,153.80. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brandon H. Hull sold 800 shares of athenahealth stock in a transaction dated 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. Insiders sold a total of 14,874 shares of company stock worth $2,102,697 in the last three months. Company insiders own 3.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its stake in athenahealth by 0.8% in the second quarter. FMR LLC now owns 5,975,119 shares of the health services provider’s stock worth $839,803,000 after buying an additional 47,341 shares in the last quarter. Janus Henderson Group PLC bought a new stake in athenahealth during the second quarter worth about $713,856,000. Morgan Stanley increased its stake 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 in the last quarter. Wellington Management Group LLP increased its stake in athenahealth by 1.0% in the first quarter. Wellington Management Group LLP now owns 3,464,730 shares of the health services provider’s stock worth $390,441,000 after buying an additional 35,241 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in athenahealth by 1.8% in the second quarter. Vanguard Group Inc. now owns 3,100,643 shares of the health services provider’s stock worth $435,795,000 after buying an additional 53,361 shares in the last quarter.
Shares of athenahealth (ATHN) traded up 0.30% during midday trading on Friday, hitting $141.34. The stock had a trading volume of 393,900 shares. The firm has a 50-day moving average of $142.46 and a 200 day moving average of $126.16. The firm has a market cap of $5.64 billion, a PE ratio of 179.37 and a beta of 1.77. athenahealth has a 12-month low of $90.11 and a 12-month high of $158.66.
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 Zacks’ consensus estimate of $0.39 by $0.12. athenahealth had a return on equity of 6.91% and a net margin of 2.80%. The business had revenue of $301.10 million during the quarter, compared to analysts’ expectations of $298.68 million. During the same period in the prior year, the firm posted $0.34 EPS. athenahealth’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, analysts expect that athenahealth will post $1.91 earnings per share for the current year.
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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