athenahealth Inc. (ATHN) Stake Cut by Seven Bridges Advisors LLC
Seven Bridges Advisors LLC lowered its position in shares of athenahealth Inc. (NASDAQ:ATHN) by 18.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,541 shares of the company’s stock after selling 339 shares during the period. Seven Bridges Advisors LLC’s holdings in athenahealth were worth $213,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Bank of Montreal Can bought a new position in athenahealth during the second quarter worth $2,072,000. IBM Retirement Fund raised its position in athenahealth by 1.3% in the second quarter. IBM Retirement Fund now owns 3,933 shares of the company’s stock worth $543,000 after buying an additional 51 shares during the last quarter. 1st Global Advisors Inc. raised its position in athenahealth by 1.5% in the second quarter. 1st Global Advisors Inc. now owns 1,633 shares of the company’s stock worth $225,000 after buying an additional 24 shares during the last quarter. Nordea Investment Management AB raised its position in athenahealth by 319.4% in the second quarter. Nordea Investment Management AB now owns 4,836 shares of the company’s stock worth $667,000 after buying an additional 3,683 shares during the last quarter. Finally, Ruane Cunniff & Goldfarb Inc. raised its position in athenahealth by 50.0% in the second quarter. Ruane Cunniff & Goldfarb Inc. now owns 300,095 shares of the company’s stock worth $41,416,000 after buying an additional 100,095 shares during the last quarter.
Shares of athenahealth Inc. (NASDAQ:ATHN) traded up 0.50% during trading on Wednesday, hitting $121.64. The company had a trading volume of 163,920 shares. The stock’s 50-day moving average price is $123.18 and its 200 day moving average price is $130.71. athenahealth Inc. has a 52 week low of $114.59 and a 52 week high of $170.42. The company has a market capitalization of $4.79 billion, a P/E ratio of 447.21 and a beta of 1.15.
athenahealth (NASDAQ:ATHN) last released its quarterly earnings results on Thursday, July 21st. The company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.42 by $0.08. The firm had revenue of $261.90 million for the quarter, compared to analysts’ expectations of $274.07 million. athenahealth had a net margin of 1.06% and a return on equity of 5.16%. On average, equities research analysts forecast that athenahealth Inc. will post $1.77 earnings per share for the current year.
A number of research analysts have weighed in on the company. Stifel Nicolaus assumed coverage on athenahealth in a report on Wednesday, August 31st. They set a “hold” rating for the company. Zacks Investment Research raised athenahealth from a “sell” rating to a “hold” rating in a report on Thursday, August 4th. Jefferies Group reissued an “underperform” rating and set a $105.00 price objective on shares of athenahealth in a report on Monday, July 25th. Morgan Stanley cut their price objective on athenahealth from $186.00 to $153.00 and set an “overweight” rating for the company in a report on Monday, July 25th. Finally, FBR & Co cut their price objective on athenahealth from $145.00 to $140.00 and set a “market perform” rating for the company in a report on Friday, July 22nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $149.58.
In other athenahealth news, VP Karl Stubelis sold 928 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $123.36, for a total transaction of $114,478.08. Following the completion of the transaction, the vice president now owns 1,375 shares in the company, valued at approximately $169,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jonathan Bush sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $138.21, for a total value of $552,840.00. Following the transaction, the chief executive officer now owns 312,109 shares of the company’s stock, valued at approximately $43,136,584.89. The disclosure for this sale can be found here. Company insiders own 3.04% of the company’s stock.
athenahealth, Inc is a provider of cloud-based services and mobile applications for medical groups and health systems. The Company delivers cloud-based services for revenue cycle management and medical billing, electronic health records (EHR), patient engagement, care coordination, order transmission, population health management, and clinical decision support.
Want to see what other hedge funds are holding ATHN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for athenahealth Inc. (NASDAQ:ATHN).
Receive News & Ratings for athenahealth Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for athenahealth Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.