athenahealth, Inc. (ATHN) Given New $140.00 Price Target at KeyCorp
athenahealth, Inc. (NASDAQ:ATHN) had its price objective trimmed by KeyCorp from $170.00 to $140.00 in a research note released on Friday morning. The firm currently has an overweight rating on the health services provider’s stock.
A number of other analysts also recently weighed in on ATHN. SunTrust Banks, Inc. restated a buy rating and issued a $170.00 target price (up from $150.00) on shares of athenahealth in a report on Wednesday, August 2nd. Cowen and Company downgraded shares of athenahealth from an outperform rating to a market perform rating and boosted their target price for the stock from $127.00 to $133.00 in a report on Monday, July 31st. Cantor Fitzgerald restated a hold rating and issued a $145.00 target price on shares of athenahealth in a report on Friday. Jefferies Group LLC set a $110.00 target price on shares of athenahealth and gave the stock a hold rating in a report on Friday, October 13th. Finally, Morgan Stanley restated an equal weight rating and issued a $125.00 target price (up from $108.00) on shares of athenahealth in a report on Wednesday, August 2nd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eleven have issued a buy rating to the company. The company has an average rating of Hold and an average price target of $147.83.
athenahealth (NASDAQ:ATHN) traded up 8.27% during mid-day trading on Friday, reaching $126.04. 3,213,267 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $125.37 and its 200 day moving average price is $130.33. The firm has a market cap of $5.03 billion, a price-to-earnings ratio of 159.95 and a beta of 1.76. athenahealth has a one year low of $90.11 and a one year high of $158.66.
athenahealth (NASDAQ:ATHN) last posted its earnings results on Thursday, October 19th. The health services provider reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. athenahealth had a net margin of 2.65% and a return on equity of 6.94%. The firm had revenue of $304.60 million for the quarter, compared to the consensus estimate of $310.52 million. During the same period in the previous year, the firm posted $0.60 EPS. The business’s quarterly revenue was up 10.1% on a year-over-year basis. On average, equities analysts forecast that athenahealth will post $1.91 EPS for the current year.
In other athenahealth news, CEO Jonathan Bush sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $143.31, for a total value of $573,240.00. Following the completion of the sale, the chief executive officer now directly owns 319,807 shares of the company’s stock, valued at approximately $45,831,541.17. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Brandon H. Hull sold 800 shares of the business’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $140.01, for a total transaction of $112,008.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,783 shares of company stock valued at $2,132,924. 3.20% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the business. Turner Investments LLC purchased a new stake in athenahealth in the 2nd quarter valued at about $105,000. Bessemer Group Inc. boosted its position in athenahealth by 13.7% in the 2nd quarter. Bessemer Group Inc. now owns 938 shares of the health services provider’s stock valued at $132,000 after buying an additional 113 shares during the period. FNY Partners Fund LP boosted its position in athenahealth by 1,900.0% in the 1st quarter. FNY Partners Fund LP now owns 1,000 shares of the health services provider’s stock valued at $112,000 after buying an additional 950 shares during the period. The Manufacturers Life Insurance Company boosted its position in athenahealth by 7.7% in 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 buying an additional 84 shares during the period. Finally, Seven Bridges Advisors LLC boosted its position in athenahealth by 5.4% in the 2nd quarter. Seven Bridges Advisors LLC now owns 1,303 shares of the health services provider’s stock valued at $183,000 after buying an additional 67 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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