athenahealth, Inc. (ATHN) Earns Sector Perform Rating from Analysts at Royal Bank of Canada
Equities researchers at Royal Bank of Canada initiated coverage on shares of athenahealth, Inc. (NASDAQ:ATHN) in a research note issued on Tuesday, MarketBeat reports. The brokerage set a “sector perform” rating and a $153.00 price target on the health services provider’s stock. Royal Bank of Canada’s price target would suggest a potential upside of 23.01% from the stock’s previous close.
A number of other research analysts also recently commented on ATHN. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $154.00 price objective (up previously from $119.00) on shares of athenahealth in a research note on Monday, May 22nd. Dougherty & Co increased their target price on shares of athenahealth from $123.00 to $148.00 and gave the stock a “buy” rating in a research report on Tuesday, May 23rd. Robert W. Baird increased their target price on shares of athenahealth from $140.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, May 25th. UBS AG reissued a “buy” rating and set a $152.00 target price (up previously from $123.00) on shares of athenahealth in a research report on Wednesday, May 31st. Finally, Citigroup Inc. reissued a “buy” rating and set a $163.00 target price (up previously from $128.00) on shares of athenahealth in a research report on Monday, June 5th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $149.91.
Shares of athenahealth (NASDAQ ATHN) traded down 2.06% during midday trading on Tuesday, hitting $124.38. 485,094 shares of the company’s stock were exchanged. The firm has a market cap of $4.97 billion, a PE ratio of 157.84 and a beta of 1.79. athenahealth has a one year low of $90.11 and a one year high of $158.66. The stock’s 50-day moving average price is $138.24 and its 200 day moving average price is $129.15.
athenahealth (NASDAQ:ATHN) last posted its quarterly earnings data on Thursday, July 20th. The health services provider reported $0.51 EPS 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 company had revenue of $301.10 million during the quarter, compared to the consensus estimate of $298.68 million. During the same quarter in the prior year, the company posted $0.34 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. Equities research analysts forecast that athenahealth will post $1.91 EPS for the current year.
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In other news, SVP Jonathan D. Porter sold 300 shares of the firm’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $130.38, for a total transaction of $39,114.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brandon H. Hull sold 800 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $140.95, for a total value of $112,760.00. The disclosure for this sale can be found here. Insiders sold 15,722 shares of company stock worth $2,221,721 over the last quarter. 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 ATHN. Janus Henderson Group PLC acquired a new position in athenahealth during the second quarter worth about $713,856,000. BlackRock Inc. grew its holdings in athenahealth by 30,642.6% during the first quarter. BlackRock Inc. now owns 1,599,847 shares of the health services provider’s stock worth $180,286,000 after acquiring an additional 1,594,643 shares during the period. Morgan Stanley grew its holdings in athenahealth by 9.7% during the first quarter. Morgan Stanley now owns 4,514,305 shares of the health services provider’s stock worth $508,717,000 after acquiring an additional 397,837 shares during the period. Elliott Management Corp acquired a new position in athenahealth during the second quarter worth about $52,706,000. Finally, Clearbridge Investments LLC grew its holdings in athenahealth by 61.8% during the first quarter. Clearbridge Investments LLC now owns 908,505 shares of the health services provider’s stock worth $102,379,000 after acquiring an additional 347,133 shares during the period.
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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