Gabelli Funds LLC Increases Stake in athenahealth, Inc (ATHN)

Gabelli Funds LLC lifted its holdings in shares of athenahealth, Inc (NASDAQ:ATHN) by 93.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,150 shares of the health services provider’s stock after acquiring an additional 45,050 shares during the period. Gabelli Funds LLC owned 0.23% of athenahealth worth $12,445,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Kaizen Advisory LLC purchased a new position in athenahealth in the 3rd quarter valued at $886,000. Morgan Stanley grew its position in athenahealth by 0.6% in the 2nd quarter. Morgan Stanley now owns 4,565,845 shares of the health services provider’s stock valued at $726,608,000 after buying an additional 25,304 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in athenahealth in the 2nd quarter valued at $8,514,000. Oppenheimer & Co. Inc. grew its position in athenahealth by 37.5% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 3,029 shares of the health services provider’s stock valued at $482,000 after buying an additional 826 shares during the last quarter. Finally, Parkside Investments LLC purchased a new position in athenahealth in the 2nd quarter valued at $318,000.

A number of equities analysts recently weighed in on the stock. MED lowered their price objective on shares of athenahealth to $140.00 and set a “hold” rating on the stock in a research report on Wednesday, September 19th. Canaccord Genuity lifted their price objective on shares of athenahealth from $125.00 to $160.00 and gave the company a “hold” rating in a research report on Tuesday, July 31st. Stifel Nicolaus reiterated a “hold” rating and issued a $140.00 price objective (up from $134.00) on shares of athenahealth in a research report on Tuesday, July 31st. Leerink Swann set a $140.00 price objective on shares of athenahealth and gave the company a “buy” rating in a research report on Friday, September 28th. Finally, SunTrust Banks lowered their price objective on shares of athenahealth to $150.00 in a research report on Wednesday, September 19th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $153.79.

athenahealth stock opened at $120.35 on Friday. athenahealth, Inc has a one year low of $116.77 and a one year high of $163.94. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.62 and a quick ratio of 2.62. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 76.66, a price-to-earnings-growth ratio of 2.23 and a beta of 0.80.

In other athenahealth news, insider Daniel P. Haley sold 2,204 shares of the firm’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $127.23, for a total value of $280,414.92. Following the completion of the sale, the insider now owns 10,555 shares of the company’s stock, valued at $1,342,912.65. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last three months, insiders sold 2,654 shares of company stock valued at $340,770. 2.90% of the stock is owned by corporate insiders.

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athenahealth 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.

Further Reading: What are the Different Types of Leveraged Buyouts?

Institutional Ownership by Quarter for athenahealth (NASDAQ:ATHN)

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