athenahealth Inc. (ATHN) Receives $139.29 Average Target Price from Analysts
Shares of athenahealth Inc. (NASDAQ:ATHN) have received a consensus recommendation of “Hold” from the nineteen brokerages that are currently covering the firm. Three equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and six have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $139.29.
A number of research firms recently commented on ATHN. JPMorgan Chase & Co. lowered athenahealth from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $128.00 to $111.00 in a research report on Friday, October 28th. Morgan Stanley lowered athenahealth from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $153.00 to $117.00 in a research report on Wednesday, October 26th. Canaccord Genuity reiterated a “hold” rating and issued a $127.00 price objective on shares of athenahealth in a research report on Sunday, October 23rd. Oppenheimer Holdings Inc. set a $170.00 price objective on athenahealth and gave the company a “buy” rating in a research report on Thursday, October 20th. Finally, Jefferies Group increased their price objective on athenahealth from $105.00 to $110.00 and gave the company an “underperform” rating in a research report on Friday, October 14th.
Shares of athenahealth (NASDAQ:ATHN) opened at 102.81 on Wednesday. athenahealth has a 52 week low of $97.70 and a 52 week high of $170.42. The firm has a market cap of $4.06 billion, a PE ratio of 219.21 and a beta of 1.85. The firm’s 50-day moving average is $115.39 and its 200 day moving average is $125.40.
athenahealth (NASDAQ:ATHN) last released its quarterly earnings results on Thursday, October 20th. The company reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.13. The business had revenue of $276.70 million for the quarter. athenahealth had a return on equity of 6.60% and a net margin of 1.80%. The firm’s revenue was up 17.2% on a year-over-year basis. During the same quarter last year, the company earned $0.36 earnings per share. Equities research analysts forecast that athenahealth will post $1.74 EPS for the current year.
In other news, VP Karl Stubelis sold 928 shares of the firm’s 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 approximately $169,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Bradford Kyle Armbrester sold 2,545 shares of the firm’s stock in a transaction dated Monday, October 10th. The shares were sold at an average price of $130.00, for a total value of $330,850.00. The disclosure for this sale can be found here. 3.04% of the stock is owned by company insiders.
Several institutional investors have recently made changes to their positions in the stock. Janus Capital Management LLC boosted its position in shares of athenahealth by 22.3% in the second quarter. Janus Capital Management LLC now owns 4,104,647 shares of the company’s stock valued at $566,471,000 after buying an additional 749,497 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in shares of athenahealth during the second quarter valued at $28,575,000. Sumitomo Mitsui Asset Management Company LTD bought a new position in shares of athenahealth during the third quarter valued at $24,101,000. State Treasurer State of Michigan boosted its position in shares of athenahealth by 11,337.5% in the second quarter. State Treasurer State of Michigan now owns 183,000 shares of the company’s stock valued at $25,256,000 after buying an additional 181,400 shares during the last quarter. Finally, Morgan Stanley boosted its position in shares of athenahealth by 3.1% in the third quarter. Morgan Stanley now owns 3,582,728 shares of the company’s stock valued at $451,854,000 after buying an additional 108,646 shares during the last quarter.
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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