American International Group Inc. cut its position in shares of athenahealth, Inc. (NASDAQ:ATHN) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 887 shares of the health services provider’s stock after selling 33 shares during the period. American International Group Inc.’s holdings in athenahealth were worth $100,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. M&T Bank Corp increased its stake in athenahealth by 6.2% in the first quarter. M&T Bank Corp now owns 3,717 shares of the health services provider’s stock worth $419,000 after buying an additional 218 shares in the last quarter. Nordea Investment Management AB increased its stake in athenahealth by 14.6% in the first quarter. Nordea Investment Management AB now owns 13,256 shares of the health services provider’s stock worth $1,494,000 after buying an additional 1,688 shares in the last quarter. Pacer Advisors Inc. increased its stake in athenahealth by 19.2% in the first quarter. Pacer Advisors Inc. now owns 4,124 shares of the health services provider’s stock worth $465,000 after buying an additional 665 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in athenahealth by 10.1% in the first quarter. Envestnet Asset Management Inc. now owns 28,394 shares of the health services provider’s stock worth $3,200,000 after buying an additional 2,601 shares in the last quarter. Finally, Baird Financial Group Inc. increased its stake in athenahealth by 0.9% in the first quarter. Baird Financial Group Inc. now owns 11,818 shares of the health services provider’s stock worth $1,332,000 after buying an additional 105 shares in the last quarter.

Shares of athenahealth, Inc. (NASDAQ ATHN) traded up 0.87% during midday trading on Friday, hitting $140.37. The company had a trading volume of 245,801 shares. The company’s 50-day moving average price is $142.63 and its 200 day moving average price is $125.50. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 178.13 and a beta of 1.77. athenahealth, Inc. has a 12-month low of $90.11 and a 12-month high of $158.66.

athenahealth (NASDAQ:ATHN) last released its quarterly earnings data on Thursday, July 20th. The health services provider reported $0.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.12. The company had revenue of $301.10 million during the quarter, compared to the consensus estimate of $298.68 million. athenahealth had a net margin of 2.80% and a return on equity of 6.91%. athenahealth’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same period last year, the firm earned $0.34 EPS. Equities research analysts predict that athenahealth, Inc. will post $1.92 earnings per share for the current fiscal year.

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A number of analysts recently issued reports on the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $125.00 target price (up previously from $108.00) on shares of athenahealth in a research report on Wednesday, August 2nd. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $170.00 target price (up previously from $150.00) on shares of athenahealth in a research report on Wednesday, August 2nd. BidaskClub downgraded athenahealth from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Cowen and Company downgraded athenahealth from an “outperform” rating to a “market perform” rating and lifted their target price for the company from $127.00 to $133.00 in a research report on Monday, July 31st. Finally, ValuEngine raised athenahealth from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $148.64.

In related news, SVP Jonathan D. Porter sold 300 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $109.48, for a total value of $32,844.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Bradford Kyle Armbrester sold 2,431 shares of the firm’s stock in a transaction that occurred on Thursday, May 18th. The stock was sold at an average price of $130.00, for a total transaction of $316,030.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,905 shares of company stock valued at $3,120,107. 3.20% of the stock is owned by insiders.

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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Institutional Ownership by Quarter for athenahealth (NASDAQ:ATHN)

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