Royal Bank Of Canada Reiterates “$144.00” Price Target for athenahealth, Inc. (ATHN)
athenahealth, Inc. (NASDAQ:ATHN) has been given a $144.00 price target by research analysts at Royal Bank Of Canada in a research note issued to investors on Friday. The firm presently has a “hold” rating on the health services provider’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 14.25% from the company’s current price.
A number of other analysts also recently issued reports on ATHN. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $184.00 price objective on shares of athenahealth in a research note on Friday. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $170.00 price objective (up previously from $150.00) on shares of athenahealth in a research note on Wednesday, August 2nd. KeyCorp reduced their price objective on athenahealth from $170.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday. Cowen and Company downgraded athenahealth from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $127.00 to $133.00 in a research note on Monday, July 31st. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $145.00 price objective on shares of athenahealth in a research note on Friday. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $147.83.
Shares of athenahealth (NASDAQ ATHN) opened at 126.04 on Friday. athenahealth has a 52 week low of $90.11 and a 52 week high of $158.66. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 159.95 and a beta of 1.76. The firm has a 50-day moving average price of $125.37 and a 200 day moving average price of $130.33.
athenahealth (NASDAQ:ATHN) last released its quarterly earnings data on Thursday, October 19th. The health services provider reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.06. athenahealth had a return on equity of 6.94% and a net margin of 2.65%. The business had revenue of $304.60 million for the quarter, compared to the consensus estimate of $310.52 million. During the same quarter in the previous year, the company posted $0.60 EPS. The company’s revenue was up 10.1% compared to the same quarter last year. On average, analysts forecast that athenahealth will post $1.91 EPS for the current fiscal year.
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In other athenahealth news, CEO Jonathan Bush sold 4,000 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $143.31, for a total value of $573,240.00. Following the completion of the sale, the chief executive officer now directly owns 319,807 shares in the company, valued at approximately $45,831,541.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan D. Porter sold 300 shares of the company’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $142.88, for a total value of $42,864.00. The disclosure for this sale can be found here. Insiders sold a total of 15,783 shares of company stock valued at $2,132,924 over the last quarter. Company insiders own 3.20% of the company’s stock.
Several hedge funds have recently modified their holdings of the business. Comerica Bank lifted its holdings in shares of athenahealth by 0.6% in the 1st quarter. Comerica Bank now owns 2,487 shares of the health services provider’s stock worth $302,000 after buying an additional 14 shares during the period. Advisor Group Inc. lifted its holdings in shares of athenahealth by 2.8% in the 2nd quarter. Advisor Group Inc. now owns 1,744 shares of the health services provider’s stock worth $244,000 after buying an additional 47 shares during the period. Seven Bridges Advisors LLC lifted its holdings in shares of athenahealth by 5.4% in the 2nd quarter. Seven Bridges Advisors LLC now owns 1,303 shares of the health services provider’s stock worth $183,000 after buying an additional 67 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of athenahealth by 2.2% in the 2nd quarter. Teacher Retirement System of Texas now owns 3,156 shares of the health services provider’s stock worth $444,000 after buying an additional 67 shares during the period. Finally, State of Wisconsin Investment Board lifted its holdings in shares of athenahealth by 0.9% in the 2nd quarter. State of Wisconsin Investment Board now owns 7,868 shares of the health services provider’s stock worth $1,106,000 after buying an additional 70 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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