Robert W. Baird Cuts athenahealth, Inc. (ATHN) Price Target to $155.00
athenahealth, Inc. (NASDAQ:ATHN) had its price objective reduced by analysts at Robert W. Baird from $170.00 to $155.00 in a research report issued to clients and investors on Sunday. The firm currently has an “outperform” rating on the health services provider’s stock. Robert W. Baird’s price target suggests a potential upside of 22.41% from the stock’s previous close.
A number of other research firms have also recently issued reports on ATHN. Piper Jaffray Companies reissued a “buy” rating and set a $152.00 price objective on shares of athenahealth in a research report on Friday, July 14th. Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $184.00 price objective on shares of athenahealth in a research report on Friday. BidaskClub cut shares of athenahealth from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. First Analysis cut shares of athenahealth from an “equal weight” rating to an “underweight” rating and increased their price objective for the stock from $99.00 to $125.00 in a research report on Monday, July 24th. Finally, UBS AG reissued a “positive” rating and set a $175.00 price objective (up previously from $157.00) on shares of athenahealth in a research report on Monday, July 24th. Two investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. athenahealth presently has a consensus rating of “Hold” and an average target price of $144.91.
athenahealth (ATHN) traded up 0.46% on Friday, reaching $126.62. The company’s stock had a trading volume of 941,510 shares. The company has a market cap of $5.06 billion, a P/E ratio of 160.69 and a beta of 1.76. The stock’s 50 day moving average price is $125.37 and its 200 day moving average price is $130.33. athenahealth has a 12 month low of $90.11 and a 12 month high of $158.66.
athenahealth (NASDAQ:ATHN) last issued its quarterly earnings results on Thursday, October 19th. The health services provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.06. The business had revenue of $304.60 million for the quarter, compared to analysts’ expectations of $310.52 million. athenahealth had a net margin of 2.65% and a return on equity of 6.94%. The business’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. Equities research analysts forecast that athenahealth will post $1.97 earnings per share for the current year.
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In other athenahealth news, insider Daniel P. Haley sold 1,583 shares of the stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $124.56, for a total value of $197,178.48. Following the completion of the sale, the insider now owns 13,408 shares in the company, valued at approximately $1,670,100.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jonathan Bush sold 4,000 shares of the stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $143.31, for a total transaction of $573,240.00. Following the completion of the sale, the chief executive officer now owns 319,807 shares of the company’s stock, valued at approximately $45,831,541.17. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,783 shares of company stock valued at $2,132,924. Company insiders own 3.20% of the company’s stock.
A number of large investors have recently bought and sold shares of ATHN. Janus Henderson Group PLC purchased a new stake in shares of athenahealth during the 2nd quarter worth approximately $713,856,000. BlackRock Inc. increased its stake in shares of athenahealth by 30,642.6% during the 1st quarter. BlackRock Inc. now owns 1,599,847 shares of the health services provider’s stock worth $180,286,000 after purchasing an additional 1,594,643 shares during the last quarter. Elliott Management Corp purchased a new stake in shares of athenahealth during the 2nd quarter worth approximately $52,706,000. Clearbridge Investments LLC increased its stake in shares of athenahealth by 61.8% during the 1st quarter. Clearbridge Investments LLC now owns 908,505 shares of the health services provider’s stock worth $102,379,000 after purchasing an additional 347,133 shares during the last quarter. Finally, Capital Research Global Investors increased its stake in shares of athenahealth by 15.5% during the 2nd quarter. Capital Research Global Investors now owns 2,041,714 shares of the health services provider’s stock worth $286,963,000 after purchasing an additional 273,660 shares during the last quarter.
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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