Investors Buy athenahealth, Inc. (ATHN) on Weakness
Investors purchased shares of athenahealth, Inc. (NASDAQ:ATHN) on weakness during trading on Tuesday. $24.76 million flowed into the stock on the tick-up and $7.81 million flowed out of the stock on the tick-down, for a money net flow of $16.95 million into the stock. Of all equities tracked, athenahealth had the 20th highest net in-flow for the day. athenahealth traded down ($1.89) for the day and closed at $123.51
Several brokerages recently weighed in on ATHN. ValuEngine upgraded athenahealth from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Evercore ISI reaffirmed an “outperform” rating and issued a $163.00 price target (up from $155.00) on shares of athenahealth in a research note on Saturday, July 22nd. Cowen and Company downgraded athenahealth from an “outperform” rating to a “market perform” rating and boosted their price objective for the company from $127.00 to $133.00 in a research report on Monday, July 31st. Jefferies Group LLC reiterated a “hold” rating and issued a $135.00 price objective on shares of athenahealth in a research report on Monday, June 26th. Finally, 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. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $149.91.
The firm has a market capitalization of $4.93 billion, a P/E ratio of 156.74 and a beta of 1.76. The stock’s 50-day moving average price is $133.33 and its 200 day moving average price is $129.69.
athenahealth (NASDAQ:ATHN) last announced its quarterly earnings data on Thursday, July 20th. The health services provider reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.12. athenahealth had a return on equity of 6.91% and a net margin of 2.80%. The company had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $298.68 million. During the same quarter in the prior year, the firm earned $0.34 earnings per share. athenahealth’s revenue was up 15.0% compared to the same quarter last year. Equities analysts anticipate that athenahealth, Inc. will post $1.91 earnings per share for the current year.
In related news, SVP Jonathan D. Porter sold 300 shares of the company’s stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $130.38, for a total value of $39,114.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jonathan Bush sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $143.31, for a total transaction of $573,240.00. Following the completion of the sale, the chief executive officer now directly owns 319,807 shares of the company’s stock, valued at $45,831,541.17. The disclosure for this sale can be found here. Insiders have sold a total of 10,922 shares of company stock worth $1,546,993 in the last three months. Corporate insiders own 3.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of ATHN. Turner Investments LLC bought a new stake in shares of athenahealth in the 2nd quarter valued at about $105,000. FNY Partners Fund LP lifted its position in shares of athenahealth by 1,900.0% in the 1st quarter. FNY Partners Fund LP now owns 1,000 shares of the health services provider’s stock worth $112,000 after purchasing an additional 950 shares during the period. Bessemer Group Inc. lifted its position in shares of athenahealth by 13.7% in the 2nd quarter. Bessemer Group Inc. now owns 938 shares of the health services provider’s stock worth $132,000 after purchasing an additional 113 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of athenahealth by 7.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,179 shares of the health services provider’s stock worth $166,000 after purchasing an additional 84 shares during the period. Finally, Seven Bridges Advisors LLC boosted its stake in shares of athenahealth by 5.4% during the second quarter. Seven Bridges Advisors LLC now owns 1,303 shares of the health services provider’s stock valued at $183,000 after purchasing an additional 67 shares in the last quarter.
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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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