Equities analysts predict that athenahealth, Inc. (NASDAQ:ATHN) will report $311.53 million in sales for the current fiscal quarter, according to Zacks. Twenty One analysts have issued estimates for athenahealth’s earnings. The highest sales estimate is $320.53 million and the lowest is $304.20 million. athenahealth posted sales of $276.67 million during the same quarter last year, which suggests a positive year-over-year growth rate of 12.6%. The business is expected to announce its next quarterly earnings report on Thursday, October 19th.
On average, analysts expect that athenahealth will report full year sales of $311.53 million for the current fiscal year, with estimates ranging from $1.21 billion to $1.24 billion. For the next year, analysts expect that the company will post sales of $1.39 billion per share, with estimates ranging from $1.33 billion to $1.45 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover athenahealth.
athenahealth (NASDAQ:ATHN) last released its earnings results on Thursday, July 20th. The health services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.12. athenahealth had a return on equity of 6.91% and a net margin of 2.80%. The firm had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $298.68 million. During the same period in the prior year, the firm posted $0.34 earnings per share. The company’s quarterly revenue was up 15.0% on a year-over-year basis.
A number of research analysts have recently issued reports on the company. UBS AG reiterated a “buy” rating and issued a $152.00 price target (up from $123.00) on shares of athenahealth in a report on Wednesday, May 31st. Citigroup Inc. reiterated a “buy” rating and issued a $163.00 price target (up from $128.00) on shares of athenahealth in a report on Monday, June 5th. Piper Jaffray Companies reiterated a “buy” rating and issued a $152.00 price target on shares of athenahealth in a report on Friday, July 14th. Oppenheimer Holdings, Inc. lifted their price target on athenahealth from $154.00 to $184.00 and gave the company an “outperform” rating in a report on Friday, July 21st. Finally, Wells Fargo & Company reiterated an “outperform” rating and issued a $190.00 price target (up from $130.00) on shares of athenahealth in a report on Saturday, July 22nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company’s stock. athenahealth has a consensus rating of “Hold” and an average target price of $148.64.
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In other news, CEO Jonathan Bush sold 4,000 shares of the business’s stock in a transaction dated Thursday, May 18th. The stock was sold at an average price of $125.85, for a total value of $503,400.00. Following the completion of the transaction, the chief executive officer now owns 319,807 shares of the company’s stock, valued at approximately $40,247,710.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Bradford Kyle Armbrester sold 2,431 shares of the business’s stock in a transaction dated Thursday, May 18th. The shares were sold at an average price of $130.00, for a total value of $316,030.00. The disclosure for this sale can be found here. In the last three months, insiders sold 22,905 shares of company stock valued at $3,120,107. Insiders own 3.20% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. BlackRock Inc. boosted its position in shares of athenahealth by 30,642.6% in the first quarter. BlackRock Inc. now owns 1,599,847 shares of the health services provider’s stock valued at $180,286,000 after buying an additional 1,594,643 shares during the period. Morgan Stanley boosted its position in shares of athenahealth by 9.7% in the first quarter. Morgan Stanley now owns 4,514,305 shares of the health services provider’s stock valued at $508,717,000 after buying an additional 397,837 shares during the period. Clearbridge Investments LLC boosted its position in shares of athenahealth by 61.8% in the first quarter. Clearbridge Investments LLC now owns 908,505 shares of the health services provider’s stock valued at $102,379,000 after buying an additional 347,133 shares during the period. Credit Suisse AG boosted its position in shares of athenahealth by 404.5% in the first quarter. Credit Suisse AG now owns 300,420 shares of the health services provider’s stock valued at $33,854,000 after buying an additional 240,876 shares during the period. Finally, Norges Bank bought a new position in shares of athenahealth during the fourth quarter valued at about $20,750,000.
athenahealth (NASDAQ:ATHN) traded down 0.67% during midday trading on Friday, hitting $141.06. The stock had a trading volume of 61,815 shares. The stock has a market cap of $5.63 billion, a PE ratio of 179.01 and a beta of 1.77. The company’s 50 day moving average price is $143.35 and its 200-day moving average price is $124.81. athenahealth has a 52-week low of $90.11 and a 52-week high of $158.66.
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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