athenahealth, Inc. (NASDAQ:ATHN) had its price target raised by Oppenheimer Holdings, Inc. from $154.00 to $184.00 in a research report issued on Friday, July 21st. The firm currently has an “outperform” rating on the health services provider’s stock. Oppenheimer Holdings, Inc.’s target price suggests a potential upside of 30.18% from the company’s previous close.
Several other research firms have also commented on ATHN. BidaskClub upgraded shares of athenahealth from a “hold” rating to a “buy” rating in a research report on Saturday, June 24th. 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. William Blair restated a “market perform” rating on shares of athenahealth in a report on Friday, July 21st. Piper Jaffray Companies restated an “overweight” rating and issued a $171.00 target price on shares of athenahealth in a report on Friday, July 21st. They noted that the move was a valuation call. Finally, J P Morgan Chase & Co set a $136.00 target price on shares of athenahealth and gave the company a “hold” rating in a report on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $148.64.
Shares of athenahealth (NASDAQ ATHN) traded up 0.30% during midday trading on Friday, hitting $141.34. 393,900 shares of the company traded hands. The company has a 50-day moving average price of $142.46 and a 200-day moving average price of $126.16. The stock has a market capitalization of $5.64 billion, a P/E ratio of 179.37 and a beta of 1.77. athenahealth has a 52 week low of $90.11 and a 52 week 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 consensus estimate of $0.39 by $0.12. athenahealth had a net margin of 2.80% and a return on equity of 6.91%. The business had revenue of $301.10 million for the quarter, compared to analyst estimates of $298.68 million. During the same period in the previous year, the firm earned $0.34 EPS. The business’s revenue for the quarter was up 15.0% compared to the same quarter last year. Analysts anticipate that athenahealth will post $1.91 earnings per share for the current fiscal year.
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In other news, CEO Jonathan Bush sold 4,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The stock was sold at an average price of $140.52, for a total transaction of $562,080.00. Following the transaction, the chief executive officer now directly owns 319,807 shares of the company’s stock, valued at $44,939,279.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Karl Stubelis sold 3,952 shares of the firm’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $138.98, for a total value of $549,248.96. Following the transaction, the chief financial officer now directly owns 21,810 shares in the company, valued at $3,031,153.80. The disclosure for this sale can be found here. Insiders sold 14,874 shares of company stock worth $2,102,697 over the last ninety days. 3.20% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Toronto Dominion Bank acquired a new position in shares of athenahealth during the second quarter worth approximately $16,863,000. 1st Global Advisors Inc. acquired a new position in shares of athenahealth during the second quarter worth approximately $243,000. Verition Fund Management LLC acquired a new position in shares of athenahealth during the second quarter worth approximately $272,000. Raymond James Financial Services Advisors Inc. purchased a new position in athenahealth during the second quarter worth about $548,000. Finally, The Manufacturers Life Insurance Company raised its position in athenahealth by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,179 shares of the health services provider’s stock worth $166,000 after buying an additional 84 shares during the last quarter.
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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