athenahealth Inc. (ATHN) Sees Strong Trading Volume After Analyst Upgrade
athenahealth Inc. (NASDAQ:ATHN) shares saw an uptick in trading volume on Monday after Jefferies Group raised their price target on the stock from $105.00 to $110.00. Jefferies Group currently has an underperform rating on the stock. 329,316 shares were traded during trading, an increase of 7% from the previous session’s volume of 308,377 shares.The stock last traded at $124.75 and had previously closed at $123.42.
Several other research firms have also weighed in on ATHN. Canaccord Genuity reissued a “hold” rating and set a $142.00 price objective on shares of athenahealth in a research note on Wednesday, June 29th. Stifel Nicolaus started coverage on athenahealth in a research note on Wednesday, August 31st. They set a “hold” rating for the company. FBR & Co reduced their price objective on athenahealth from $145.00 to $140.00 and set a “market perform” rating for the company in a research note on Friday, July 22nd. Deutsche Bank AG lowered athenahealth from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $165.00 to $147.00 in a research note on Friday, July 22nd. Finally, Zacks Investment Research lowered athenahealth from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $149.95.
In other news, Director Brandon H. Hull sold 2,400 shares of athenahealth stock in a transaction dated Monday, October 10th. The stock was sold at an average price of $130.00, for a total value of $312,000.00. Following the transaction, the director now directly owns 3,987 shares in the company, valued at $518,310. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Karl Stubelis sold 928 shares of athenahealth stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $123.36, for a total value of $114,478.08. Following the completion of the transaction, the vice president now owns 1,375 shares in the company, valued at $169,620. The disclosure for this sale can be found here. 3.04% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of ATHN. Advisor Group Inc. acquired a new position in athenahealth during the second quarter worth approximately $118,000. FineMark National Bank & Trust increased its stake in athenahealth by 4.5% in the second quarter. FineMark National Bank & Trust now owns 944 shares of the company’s stock worth $130,000 after buying an additional 41 shares during the period. KBC Group NV purchased a new stake in athenahealth during the second quarter worth $135,000. Societe Generale purchased a new stake in athenahealth during the second quarter worth $176,000. Finally, SG Americas Securities LLC increased its stake in athenahealth by 27.7% in the second quarter. SG Americas Securities LLC now owns 1,277 shares of the company’s stock worth $176,000 after buying an additional 277 shares during the period.
The firm has a 50 day moving average price of $123.67 and a 200-day moving average price of $129.65. The stock has a market cap of $4.91 billion, a price-to-earnings ratio of 458.53 and a beta of 1.28.
athenahealth (NASDAQ:ATHN) last announced its earnings results on Thursday, July 21st. The company reported $0.34 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.42 by $0.08. The company earned $261.90 million during the quarter, compared to analyst estimates of $274.07 million. athenahealth had a return on equity of 5.16% and a net margin of 1.06%. On average, analysts anticipate that athenahealth Inc. will post $1.77 EPS for the current year.
athenahealth Company Profile
athenahealth, Inc is a provider of cloud-based services and mobile applications for medical groups and health systems. The Company delivers cloud-based services for revenue cycle management and medical billing, electronic health records (EHR), patient engagement, care coordination, order transmission, population health management, and clinical decision support.
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