athenahealth, Inc. (NASDAQ:ATHN) had its price objective reduced by Jefferies Group LLC from $135.00 to $120.00 in a report published on Friday morning. They currently have a hold rating on the health services provider’s stock. Jefferies Group also issued estimates for athenahealth’s Q3 2017 earnings at $0.25 EPS.
Several other equities research analysts have also issued reports on the stock. Citigroup Inc. reissued a buy rating and issued a $169.00 price target (up previously from $163.00) on shares of athenahealth in a report on Monday, July 10th. BidaskClub raised shares of athenahealth from a hold rating to a buy rating in a report on Saturday, June 24th. William Blair reissued a market perform rating on shares of athenahealth in a report on Friday, July 21st. J P Morgan Chase & Co set a $136.00 price target on shares of athenahealth and gave the company a hold rating in a report on Wednesday, July 19th. Finally, Evercore ISI reissued an outperform rating and issued a $147.00 price target (up previously from $118.00) on shares of athenahealth in a report on Friday, May 19th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. The company has an average rating of Hold and an average target price of $148.41.
athenahealth (NASDAQ ATHN) traded down 1.49% on Friday, hitting $128.94. 399,272 shares of the stock traded hands. The stock has a 50-day moving average of $139.00 and a 200-day moving average of $128.87. athenahealth has a 12-month low of $90.11 and a 12-month high of $158.66. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 163.63 and a beta of 1.79.
athenahealth (NASDAQ:ATHN) last announced its quarterly earnings results on Thursday, July 20th. The health services provider reported $0.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.12. The firm had revenue of $301.10 million for the quarter, compared to analyst estimates of $298.68 million. athenahealth had a net margin of 2.80% and a return on equity of 6.91%. The business’s revenue for the quarter was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.34 EPS. Analysts forecast that athenahealth will post $1.91 earnings per share for the current year.
In other athenahealth news, SVP Jonathan D. Porter sold 300 shares of the company’s stock in a transaction dated Monday, July 17th. The shares were sold at an average price of $143.13, for a total transaction of $42,939.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Jonathan Bush sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $143.31, for a total transaction of $573,240.00. Following the transaction, the chief executive officer now owns 319,807 shares in the company, valued at $45,831,541.17. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,422 shares of company stock worth $2,182,607. Insiders own 3.20% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the business. Toronto Dominion Bank acquired a new position in athenahealth during the 2nd quarter valued at about $16,863,000. 1st Global Advisors Inc. acquired a new position in athenahealth during the 2nd quarter valued at about $243,000. Verition Fund Management LLC acquired a new position in athenahealth during the 2nd quarter valued at about $272,000. Raymond James Financial Services Advisors Inc. acquired a new position in athenahealth during the 2nd quarter valued at about $548,000. Finally, The Manufacturers Life Insurance Company lifted its position in athenahealth by 7.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,179 shares of the health services provider’s stock valued at $166,000 after purchasing an additional 84 shares during the period.
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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