BidaskClub Upgrades athenahealth, Inc. (ATHN) to Buy
athenahealth, Inc. (NASDAQ:ATHN) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
A number of other research firms have also weighed in on ATHN. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $154.00 price objective (up previously from $119.00) on shares of athenahealth in a research note on Monday, May 22nd. Barclays PLC set a $88.00 price objective on athenahealth and gave the company an “underweight” rating in a research note on Monday, May 1st. Stifel Nicolaus reissued a “hold” rating and set a $151.00 price objective (up previously from $106.00) on shares of athenahealth in a research note on Friday, June 16th. Evercore ISI reissued an “outperform” rating and set a $147.00 price objective (up previously from $118.00) on shares of athenahealth in a research note on Friday, May 19th. Finally, Leerink Swann set a $140.00 price objective on athenahealth and gave the company a “hold” rating in a research note on Friday, May 19th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have assigned a buy rating to the company. athenahealth presently has a consensus rating of “Hold” and an average target price of $138.74.
athenahealth (NASDAQ:ATHN) traded down 2.00% on Friday, reaching $145.54. 619,672 shares of the company’s stock traded hands. The firm’s 50-day moving average is $127.14 and its 200 day moving average is $116.94. athenahealth has a 12 month low of $90.11 and a 12 month high of $148.69. The firm has a market cap of $5.80 billion, a PE ratio of 286.50 and a beta of 1.81.
athenahealth (NASDAQ:ATHN) last issued its earnings results on Thursday, April 27th. The health services provider reported $0.10 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The firm had revenue of $285.40 million during the quarter, compared to analysts’ expectations of $296.49 million. athenahealth had a return on equity of 5.93% and a net margin of 1.84%. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 EPS. Equities analysts predict that athenahealth will post $1.88 EPS for the current year.
In other athenahealth news, SVP Jonathan D. Porter sold 300 shares of the stock in a transaction on Monday, May 15th. The stock was 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 is accessible through the SEC website. Also, CFO Karl Stubelis sold 3,952 shares of the stock in a transaction on Monday, June 5th. The stock was sold at an average price of $138.98, for a total value of $549,248.96. Following the completion of the transaction, the chief financial officer now owns 21,810 shares of the company’s stock, valued at approximately $3,031,153.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,583 shares of company stock valued at $2,612,204. 3.20% of the stock is owned by corporate insiders.
Institutional investors have recently bought and sold shares of the company. Norges Bank purchased a new position in athenahealth during the fourth quarter worth about $20,750,000. Rockefeller Financial Services Inc. increased its position in athenahealth by 13.1% in the first quarter. Rockefeller Financial Services Inc. now owns 8,445 shares of the health services provider’s stock worth $952,000 after buying an additional 975 shares during the period. Teachers Advisors LLC increased its position in athenahealth by 3.0% in the fourth quarter. Teachers Advisors LLC now owns 74,094 shares of the health services provider’s stock worth $7,792,000 after buying an additional 2,190 shares during the period. Highbridge Capital Management LLC purchased a new position in athenahealth during the fourth quarter worth about $13,599,000. Finally, GSA Capital Partners LLP purchased a new position in athenahealth during the fourth quarter worth about $307,000.
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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