athenahealth (ATHN) Releases Earnings Results

athenahealth (NASDAQ:ATHN) released its quarterly earnings data on Friday. The health services provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.10, Morningstar.com reports. The business had revenue of $331.40 million during the quarter, compared to analyst estimates of $336.98 million. athenahealth had a return on equity of 14.71% and a net margin of 8.71%. The company’s revenue was up 8.8% on a year-over-year basis. During the same quarter last year, the business posted $0.56 EPS. athenahealth updated its FY 2018 guidance to EPS.

Shares of NASDAQ:ATHN traded down $4.53 during trading on Friday, reaching $120.35. 849,908 shares of the company’s stock traded hands, compared to its average volume of 557,273. athenahealth has a fifty-two week low of $116.77 and a fifty-two week high of $163.94. The company has a quick ratio of 2.62, a current ratio of 2.62 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $5.12 billion, a PE ratio of 76.66, a price-to-earnings-growth ratio of 2.23 and a beta of 0.80.

In other news, insider Daniel P. Haley sold 2,204 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $127.23, for a total transaction of $280,414.92. Following the sale, the insider now directly owns 10,555 shares in the company, valued at approximately $1,342,912.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 2,654 shares of company stock worth $340,770 over the last 90 days. Insiders own 2.90% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. Integrated Investment Consultants LLC acquired a new stake in athenahealth in the 2nd quarter worth about $150,000. Ropes Wealth Advisors LLC acquired a new stake in athenahealth in the 2nd quarter worth about $194,000. Campbell & CO Investment Adviser LLC acquired a new stake in athenahealth in the 2nd quarter worth about $206,000. Strs Ohio acquired a new stake in athenahealth in the 2nd quarter worth about $208,000. Finally, Hengehold Capital Management LLC acquired a new stake in athenahealth in the 2nd quarter worth about $214,000.

A number of equities analysts have weighed in on ATHN shares. BidaskClub lowered athenahealth from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Stifel Nicolaus reiterated a “hold” rating and set a $140.00 price objective (up previously from $134.00) on shares of athenahealth in a research note on Tuesday, July 31st. Canaccord Genuity lifted their price objective on athenahealth from $125.00 to $160.00 and gave the company a “hold” rating in a research note on Tuesday, July 31st. Cowen reiterated a “hold” rating and set a $150.00 price objective on shares of athenahealth in a research note on Wednesday, August 1st. Finally, Cantor Fitzgerald reiterated a “hold” rating and set a $145.00 price objective on shares of athenahealth in a research note on Tuesday, September 18th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $153.79.

ILLEGAL ACTIVITY NOTICE: “athenahealth (ATHN) Releases Earnings Results” was first posted by American Banking News and is the sole property of of American Banking News. If you are accessing this report on another website, it was stolen and reposted in violation of US & international copyright laws. The legal version of this report can be viewed at https://www.americanbankingnews.com/2018/11/10/athenahealth-athn-releases-earnings-results.html.

athenahealth Company Profile

athenahealth, Inc, together with its subsidiaries, provides network-based medical record, revenue cycle, patient engagement, care coordination, and population health services for medical groups and health systems. It offers athenaCollector, a network-enabled billing and practice management solution; athenaClinicals, an electronic health record for managing patient's clinical documentation; athenaCommunicator, an engagement and communication solution that provides an automated communication service between patients and provider practices for interactions outside the exam room; and athenaCoordinator for order transmission and care coordination services.

Read More: Earnings Per Share

Earnings History for athenahealth (NASDAQ:ATHN)

Receive News & Ratings for athenahealth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for athenahealth and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply