athenahealth (ATHN) Stock Rating Lowered by Piper Jaffray Companies

athenahealth (NASDAQ:ATHN) was downgraded by Piper Jaffray Companies from an “overweight” rating to a “neutral” rating in a report released on Monday, The Fly reports.

Several other brokerages have also commented on ATHN. BidaskClub lowered shares of athenahealth from a “hold” rating to a “sell” rating in a report on Wednesday, July 25th. Cowen restated a “hold” rating and issued a $150.00 price objective on shares of athenahealth in a report on Wednesday, August 1st. Canaccord Genuity upped their price objective on shares of athenahealth from $125.00 to $160.00 and gave the stock a “hold” rating in a report on Tuesday, July 31st. Stifel Nicolaus restated a “hold” rating and issued a $140.00 price objective (up from $134.00) on shares of athenahealth in a report on Tuesday, July 31st. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $145.00 target price on shares of athenahealth in a research note on Tuesday, September 18th. One analyst has rated the stock with a sell rating, seventeen have issued a hold rating and four have issued a buy rating to the company’s stock. athenahealth has an average rating of “Hold” and a consensus target price of $152.47.

Shares of ATHN stock traded up $11.65 during trading hours on Monday, hitting $132.00. The company had a trading volume of 1,050,188 shares, compared to its average volume of 556,991. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.62 and a current ratio of 2.62. athenahealth has a fifty-two week low of $116.77 and a fifty-two week high of $163.94. The firm has a market cap of $4.87 billion, a P/E ratio of 84.08, a P/E/G ratio of 2.13 and a beta of 0.80.

athenahealth (NASDAQ:ATHN) last issued its quarterly earnings data on Friday, November 9th. The health services provider reported $0.81 EPS for the quarter, topping the consensus estimate of $0.71 by $0.10. athenahealth had a net margin of 8.71% and a return on equity of 14.71%. The firm had revenue of $331.40 million for the quarter, compared to analyst estimates of $336.98 million. During the same period in the prior year, the business posted $0.56 EPS. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. As a group, research analysts predict that athenahealth will post 3.21 EPS for the current fiscal year.

In other athenahealth news, insider Daniel P. Haley sold 2,204 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $127.23, for a total value of $280,414.92. Following the sale, the insider now directly owns 10,555 shares of the company’s stock, valued at approximately $1,342,912.65. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last three months, insiders sold 2,654 shares of company stock worth $340,770. Insiders own 2.90% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Alpine Associates Management Inc. purchased a new stake in shares of athenahealth in the 3rd quarter valued at approximately $10,534,000. Canada Pension Plan Investment Board increased its position in shares of athenahealth by 144.0% in the 3rd quarter. Canada Pension Plan Investment Board now owns 194,700 shares of the health services provider’s stock valued at $26,012,000 after purchasing an additional 114,900 shares during the last quarter. Trexquant Investment LP purchased a new stake in shares of athenahealth in the 3rd quarter valued at approximately $2,740,000. DekaBank Deutsche Girozentrale increased its position in shares of athenahealth by 9.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,237 shares of the health services provider’s stock valued at $1,262,000 after purchasing an additional 687 shares during the last quarter. Finally, Atlas Capital Advisors LLC purchased a new stake in shares of athenahealth in the 3rd quarter valued at approximately $596,000.

athenahealth Company Profile

athenahealth, Inc, together with its subsidiaries, provides network-based medical record, revenue cycle, patient engagement, care coordination, and population health services for medical groups and health systems. It offers athenaCollector, a network-enabled billing and practice management solution; athenaClinicals, an electronic health record for managing patient's clinical documentation; athenaCommunicator, an engagement and communication solution that provides an automated communication service between patients and provider practices for interactions outside the exam room; and athenaCoordinator for order transmission and care coordination services.

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