athenahealth, Inc. (NASDAQ:ATHN) Receives “Outperform” Rating from Wells Fargo & Company

athenahealth, Inc. (NASDAQ:ATHN)‘s stock had its “outperform” rating reiterated by analysts at Wells Fargo & Company in a research note issued to investors on Saturday. They presently have a $190.00 target price on the health services provider’s stock, up from their previous target price of $130.00. Wells Fargo & Company’s price objective would suggest a potential upside of 21.85% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Cantor Fitzgerald reissued a “buy” rating and set a $118.00 price objective (down previously from $135.00) on shares of athenahealth in a report on Thursday, April 27th. UBS AG set a $123.00 target price on shares of athenahealth and gave the company a “buy” rating in a research report on Monday, May 1st. Citigroup Inc. set a $128.00 target price on shares of athenahealth and gave the company a “buy” rating in a research report on Monday, May 1st. Robert W. Baird set a $140.00 target price on shares of athenahealth and gave the company a “buy” rating in a research report on Thursday, May 18th. Finally, Dougherty & Co upped their target price on shares of athenahealth from $123.00 to $148.00 and gave the company a “buy” rating in a research report on Tuesday, May 23rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $145.45.

athenahealth (ATHN) traded up 8.44% during mid-day trading on Friday, hitting $155.93. 2,286,356 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $141.51 and a 200 day moving average of $122.62. athenahealth has a 52 week low of $90.11 and a 52 week high of $158.66. The stock has a market capitalization of $6.21 billion, a P/E ratio of 306.95 and a beta of 1.79.

athenahealth (NASDAQ:ATHN) last issued its quarterly earnings data on Thursday, July 20th. The health services provider reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.12. athenahealth had a net margin of 2.80% and a return on equity of 7.11%. The firm had revenue of $301.10 million for the quarter, compared to analyst estimates of $298.68 million. During the same quarter in the prior year, the firm earned $0.34 EPS. The company’s revenue was up 15.0% on a year-over-year basis. Equities analysts forecast that athenahealth will post $1.86 earnings per share for the current fiscal year.

In other athenahealth news, SVP Jonathan D. Porter sold 422 shares of athenahealth stock in a transaction dated Friday, July 21st. The stock was sold at an average price of $154.00, for a total value of $64,988.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brandon H. Hull sold 800 shares of athenahealth stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $140.81, for a total value of $112,648.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,105 shares of company stock valued at $3,394,859. 3.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FNY Partners Fund LP boosted its position in athenahealth by 1,900.0% in the first quarter. FNY Partners Fund LP now owns 1,000 shares of the health services provider’s stock worth $112,000 after buying an additional 950 shares in the last quarter. Russell Investments Group Ltd. acquired a new position in athenahealth during the fourth quarter worth about $118,000. Teza Capital Management LLC acquired a new position in athenahealth during the first quarter worth about $220,000. Comerica Bank acquired a new position in athenahealth during the fourth quarter worth about $299,000. Finally, Arxis Securities LLC acquired a new position in athenahealth during the first quarter worth about $304,000.

About athenahealth

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.