$0.51 Earnings Per Share Expected for athenahealth, Inc. (ATHN) This Quarter
Wall Street brokerages predict that athenahealth, Inc. (NASDAQ:ATHN) will announce earnings of $0.51 per share for the current fiscal quarter, according to Zacks Investment Research. Twenty One analysts have provided estimates for athenahealth’s earnings. The lowest EPS estimate is $0.43 and the highest is $0.56. athenahealth posted earnings per share of $0.60 during the same quarter last year, which indicates a negative year-over-year growth rate of 15%. The business is scheduled to announce its next earnings report on Thursday, October 19th.
On average, analysts expect that athenahealth will report full-year earnings of $1.92 per share for the current fiscal year, with EPS estimates ranging from $1.76 to $2.03. For the next fiscal year, analysts forecast that the business will post earnings of $2.46 per share, with EPS estimates ranging from $2.09 to $3.18. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of research analysts that follow athenahealth.
athenahealth (NASDAQ:ATHN) last announced its quarterly earnings results on Thursday, July 20th. The health services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.12. The company had revenue of $301.10 million during the quarter, compared to the consensus estimate of $298.68 million. athenahealth had a net margin of 2.80% and a return on equity of 6.91%. The company’s revenue for the quarter was up 15.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.34 earnings per share.
Several analysts have weighed in on the stock. TheStreet raised shares of athenahealth from a “c” rating to a “b-” rating in a research note on Thursday, July 20th. Wells Fargo & Company reissued an “outperform” rating and issued a $190.00 price target (up from $130.00) on shares of athenahealth in a research note on Saturday, July 22nd. Evercore ISI reissued an “outperform” rating and issued a $163.00 price target (up from $155.00) on shares of athenahealth in a research note on Saturday, July 22nd. UBS AG reissued a “positive” rating and issued a $175.00 price target (up from $157.00) on shares of athenahealth in a research note on Monday, July 24th. Finally, First Analysis downgraded shares of athenahealth from an “equal weight” rating to an “underweight” rating and boosted their price target for the stock from $99.00 to $125.00 in a research note on Monday, July 24th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $149.09.
Shares of athenahealth (NASDAQ ATHN) traded up 0.49% on Friday, hitting $132.59. 1,000,573 shares of the stock traded hands. athenahealth has a 52 week low of $90.11 and a 52 week high of $158.66. The firm has a market cap of $5.29 billion, a P/E ratio of 165.74 and a beta of 1.79. The stock has a 50-day moving average price of $141.73 and a 200 day moving average price of $128.36.
In other athenahealth news, SVP Jonathan D. Porter sold 300 shares of the business’s stock in a transaction dated Thursday, June 15th. The shares were sold at an average price of $142.27, for a total value of $42,681.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jonathan Bush sold 4,000 shares of the business’s 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 completion of the transaction, the chief executive officer now owns 319,807 shares in the company, valued at approximately $44,939,279.64. The disclosure for this sale can be found here. Insiders sold 15,722 shares of company stock worth $2,225,288 in the last 90 days. Corporate insiders own 3.20% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Toronto Dominion Bank purchased a new position in shares of athenahealth during the second quarter valued at about $16,863,000. 1st Global Advisors Inc. purchased a new position in shares of athenahealth during the second quarter valued at about $243,000. Verition Fund Management LLC purchased a new position in shares of athenahealth during the second quarter valued at about $272,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of athenahealth during the second quarter valued at about $548,000. Finally, The Manufacturers Life Insurance Company increased its position in shares of athenahealth by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,179 shares of the health services provider’s stock valued at $166,000 after buying an additional 84 shares during the period.
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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