Traders Buy athenahealth, Inc. (ATHN) on Weakness on Insider Selling
Traders purchased shares of athenahealth, Inc. (NASDAQ:ATHN) on weakness during trading hours on Tuesday following insider selling activity. $24.76 million flowed into the stock on the tick-up and $7.81 million flowed out of the stock on the tick-down, for a money net flow of $16.95 million into the stock. Of all companies tracked, athenahealth had the 20th highest net in-flow for the day. athenahealth traded down ($1.89) for the day and closed at $123.51Specifically, insider Daniel P. Haley sold 1,583 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $124.56, for a total value of $197,178.48. Following the sale, the insider now directly owns 13,408 shares of the company’s stock, valued at approximately $1,670,100.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jonathan Bush sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $143.31, for a total transaction of $573,240.00. Following the completion of the sale, the chief executive officer now directly owns 319,807 shares in the company, valued at $45,831,541.17. The disclosure for this sale can be found here. Insiders sold a total of 16,505 shares of company stock valued at $2,240,851 over the last 90 days. Company insiders own 3.20% of the company’s stock.
A number of analysts have recently weighed in on the stock. Piper Jaffray Companies reaffirmed a “buy” rating and issued a $152.00 target price on shares of athenahealth in a research report on Friday, July 14th. Oppenheimer Holdings, Inc. upped their target price on shares of athenahealth from $154.00 to $184.00 and gave the stock an “outperform” rating in a research report on Friday, July 21st. Wells Fargo & Company reaffirmed an “outperform” rating and issued a $190.00 target price (up from $130.00) on shares of athenahealth in a research report on Saturday, July 22nd. BidaskClub downgraded shares of athenahealth from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, Citigroup Inc. reaffirmed a “buy” rating and issued a $169.00 target price (up from $163.00) on shares of athenahealth in a research report on Monday, July 10th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. athenahealth has an average rating of “Hold” and an average price target of $149.91.
The company has a market capitalization of $4.81 billion, a price-to-earnings ratio of 152.99 and a beta of 1.76. The stock’s 50 day moving average price is $132.16 and its 200 day moving average price is $129.68.
athenahealth (NASDAQ:ATHN) last posted its quarterly earnings data on Thursday, July 20th. The health services provider reported $0.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.12. athenahealth had a return on equity of 6.91% and a net margin of 2.80%. The firm had revenue of $301.10 million during the quarter, compared to the consensus estimate of $298.68 million. During the same period in the prior year, the company earned $0.34 EPS. The firm’s revenue was up 15.0% compared to the same quarter last year. On average, equities research analysts anticipate that athenahealth, Inc. will post $1.91 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of ATHN. Russell Investments Group Ltd. raised its stake in athenahealth by 380.8% in the 1st quarter. Russell Investments Group Ltd. now owns 5,409 shares of the health services provider’s stock valued at $609,000 after purchasing an additional 4,284 shares during the last quarter. Comerica Bank raised its stake in athenahealth by 0.6% in the 1st quarter. Comerica Bank now owns 2,487 shares of the health services provider’s stock valued at $302,000 after purchasing an additional 14 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in athenahealth by 14.0% in the 1st quarter. UBS Asset Management Americas Inc. now owns 22,931 shares of the health services provider’s stock valued at $2,584,000 after purchasing an additional 2,820 shares during the last quarter. Karp Capital Management Corp acquired a new position in athenahealth in the 1st quarter valued at $684,000. Finally, Parametric Portfolio Associates LLC raised its stake in athenahealth by 46.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 28,211 shares of the health services provider’s stock valued at $3,179,000 after purchasing an additional 8,974 shares during the last quarter.
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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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