KeyCorp Reaffirms “Buy” Rating for athenahealth, Inc. (ATHN)
athenahealth, Inc. (NASDAQ:ATHN)‘s stock had its “buy” rating reiterated by KeyCorp in a research note issued to investors on Sunday. They currently have a $170.00 price objective on the health services provider’s stock. KeyCorp’s price target would suggest a potential upside of 31.84% from the stock’s current price.
ATHN has been the topic of a number of other reports. William Blair reissued a “market perform” rating on shares of athenahealth in a research note on Friday, July 21st. Robert W. Baird reissued a “buy” rating and issued a $170.00 target price on shares of athenahealth in a research note on Thursday, August 31st. Argus initiated coverage on shares of athenahealth in a research note on Friday, July 7th. They issued a “hold” rating on the stock. Citigroup Inc. reissued a “buy” rating and issued a $163.00 target price (up from $128.00) on shares of athenahealth in a research note on Monday, June 5th. Finally, J P Morgan Chase & Co set a $136.00 target price on shares of athenahealth and gave the stock a “hold” rating in a research note on Wednesday, July 19th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $149.77.
Shares of athenahealth (NASDAQ ATHN) opened at 128.94 on Friday. The stock has a 50 day moving average price of $139.00 and a 200 day moving average price of $128.87. The company has a market capitalization of $5.15 billion, a PE ratio of 163.63 and a beta of 1.79. athenahealth has a one year low of $90.11 and a one year high of $158.66.
athenahealth (NASDAQ:ATHN) last issued its quarterly earnings results on Thursday, July 20th. The health services provider reported $0.51 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.39 by $0.12. athenahealth had a net margin of 2.80% and a return on equity of 6.91%. The firm had revenue of $301.10 million for the quarter, compared to analyst estimates of $298.68 million. During the same period last year, the company posted $0.34 EPS. athenahealth’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts predict that athenahealth will post $1.91 earnings per share for the current year.
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In other news, Director Brandon H. Hull sold 800 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $140.81, for a total transaction of $112,648.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jonathan D. Porter sold 300 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $143.13, for a total transaction of $42,939.00. The disclosure for this sale can be found here. Insiders have sold a total of 15,422 shares of company stock valued at $2,182,607 in the last 90 days. Insiders own 3.20% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Turner Investments LLC acquired a new stake in shares of athenahealth during the 2nd quarter worth approximately $105,000. Bessemer Group Inc. increased its holdings in athenahealth by 13.7% in the 2nd quarter. Bessemer Group Inc. now owns 938 shares of the health services provider’s stock valued at $132,000 after purchasing an additional 113 shares during the last quarter. FNY Partners Fund LP increased its holdings in athenahealth by 1,900.0% in the 1st quarter. FNY Partners Fund LP now owns 1,000 shares of the health services provider’s stock valued at $112,000 after purchasing an additional 950 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in athenahealth by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,179 shares of the health services provider’s stock valued at $166,000 after purchasing an additional 84 shares during the last quarter. Finally, Seven Bridges Advisors LLC increased its holdings in athenahealth by 5.4% in the 2nd quarter. Seven Bridges Advisors LLC now owns 1,303 shares of the health services provider’s stock valued at $183,000 after purchasing an additional 67 shares during the last quarter.
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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