athenahealth, Inc. (ATHN) Rating Reiterated by Cantor Fitzgerald
athenahealth, Inc. (NASDAQ:ATHN)‘s stock had its “hold” rating reiterated by equities research analysts at Cantor Fitzgerald in a report issued on Friday. They currently have a $120.00 target price on the health services provider’s stock. Cantor Fitzgerald’s price objective points to a potential downside of 7.05% from the stock’s previous close.
The analysts wrote, “This morning, athenaHealth filed an 8-K indicating that it implemented a change in control severance plan for certain executives.””
A number of other equities research analysts have also weighed in on the company. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $156.00 price objective on shares of athenahealth in a research report on Wednesday. Leerink Swann cut their price objective on athenahealth from $155.00 to $125.00 and set a “market perform” rating on the stock in a research report on Monday, October 23rd. Wells Fargo & Company cut their price objective on athenahealth from $190.00 to $155.00 and set an “outperform” rating on the stock in a research report on Monday, October 23rd. Canaccord Genuity reiterated a “hold” rating and issued a $123.00 price objective (down from $144.00) on shares of athenahealth in a research report on Monday, October 23rd. Finally, First Analysis upgraded athenahealth from an “underweight” rating to an “equal weight” rating and lifted their price objective for the stock from $125.00 to $127.00 in a research report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the company. athenahealth presently has an average rating of “Hold” and an average target price of $143.22.
athenahealth (ATHN) traded up 5.09% during mid-day trading on Friday, hitting $129.10. The stock had a trading volume of 768,174 shares. The company’s 50 day moving average price is $123.99 and its 200 day moving average price is $130.76. The firm has a market cap of $5.15 billion, a PE ratio of 163.83 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 posted its quarterly earnings results on Thursday, October 19th. The health services provider reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.06. The business had revenue of $304.60 million for the quarter, compared to analyst estimates of $310.52 million. athenahealth had a return on equity of 6.78% and a net margin of 2.65%. athenahealth’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the company earned $0.60 EPS. Analysts anticipate that athenahealth will post $2.02 earnings per share for the current year.
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In other news, CEO Jonathan Bush sold 4,000 shares of the business’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 transaction, the chief executive officer now owns 319,807 shares in the company, valued at $45,831,541.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Brandon H. Hull sold 800 shares of the business’s stock in a transaction on Friday, October 20th. The stock was sold at an average price of $130.00, for a total value of $104,000.00. The disclosure for this sale can be found here. Insiders have sold 16,583 shares of company stock valued at $2,236,924 in the last quarter. 3.20% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Comerica Bank raised its stake in shares of athenahealth by 0.6% in the first quarter. Comerica Bank now owns 2,487 shares of the health services provider’s stock worth $302,000 after purchasing an additional 14 shares during the last quarter. Advisor Group Inc. raised its stake in shares of athenahealth by 2.8% in the second quarter. Advisor Group Inc. now owns 1,744 shares of the health services provider’s stock worth $244,000 after purchasing an additional 47 shares during the last quarter. Seven Bridges Advisors LLC raised its stake in shares of athenahealth by 5.4% in the second quarter. Seven Bridges Advisors LLC now owns 1,303 shares of the health services provider’s stock worth $183,000 after purchasing an additional 67 shares during the last quarter. Teacher Retirement System of Texas raised its stake in shares of athenahealth by 2.2% in the second quarter. Teacher Retirement System of Texas now owns 3,156 shares of the health services provider’s stock worth $444,000 after purchasing an additional 67 shares during the last quarter. Finally, State of Wisconsin Investment Board raised its stake in shares of athenahealth by 0.9% in the second quarter. State of Wisconsin Investment Board now owns 7,868 shares of the health services provider’s stock worth $1,106,000 after purchasing an additional 70 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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