Wells Fargo & Company Trims athenahealth, Inc. (ATHN) Target Price to $155.00
athenahealth, Inc. (NASDAQ:ATHN) had its target price cut by Wells Fargo & Company from $190.00 to $155.00 in a note issued to investors on Monday. The firm presently has an “outperform” rating on the health services provider’s stock. Wells Fargo & Company’s price objective suggests a potential upside of 22.30% from the stock’s current price.
A number of other equities research analysts have also issued reports on the stock. Canaccord Genuity reissued a “hold” rating and set a $123.00 target price (down previously from $144.00) on shares of athenahealth in a research note on Monday. First Analysis raised shares of athenahealth from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $125.00 to $127.00 in a research note on Monday. Robert W. Baird reissued a “buy” rating and set a $155.00 target price (down previously from $170.00) on shares of athenahealth in a research note on Sunday. Royal Bank Of Canada set a $144.00 target price on shares of athenahealth and gave the company a “hold” rating in a research note on Friday. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $184.00 target price on shares of athenahealth in a research note on Friday. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have assigned a buy rating to the company’s stock. athenahealth presently has an average rating of “Hold” and a consensus price target of $144.91.
Shares of athenahealth (ATHN) traded up 0.46% during trading on Monday, reaching $126.62. The company had a trading volume of 929,501 shares. The stock has a 50 day moving average of $125.37 and a 200 day moving average of $130.33. The stock has a market capitalization of $5.06 billion, a price-to-earnings ratio of 160.69 and a beta of 1.76. athenahealth has a 52-week low of $90.11 and a 52-week high of $158.66.
athenahealth (NASDAQ:ATHN) last issued its earnings results on Thursday, October 19th. The health services provider reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The company had revenue of $304.60 million during the quarter, compared to analyst estimates of $310.52 million. athenahealth had a net margin of 2.65% and a return on equity of 6.94%. The company’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Equities research analysts forecast that athenahealth will post $1.97 EPS for the current year.
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In other news, Director Brandon H. Hull sold 800 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $140.01, for a total transaction of $112,008.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Jonathan D. Porter sold 300 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $142.88, for a total transaction of $42,864.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,783 shares of company stock worth $2,132,924. Insiders own 3.20% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Fox Run Management L.L.C. bought a new position in shares of athenahealth during the 3rd quarter worth about $460,000. Rockefeller Financial Services Inc. increased its holdings in shares of athenahealth by 293.2% during the 3rd quarter. Rockefeller Financial Services Inc. now owns 9,110 shares of the health services provider’s stock worth $1,133,000 after purchasing an additional 6,793 shares during the period. Toronto Dominion Bank bought a new position in shares of athenahealth during the 2nd quarter worth about $16,863,000. 1st Global Advisors Inc. bought a new position in shares of athenahealth during the 2nd quarter worth about $243,000. Finally, Verition Fund Management LLC bought a new position in shares of athenahealth during the 2nd quarter worth about $272,000.
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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