athenahealth, Inc. (NASDAQ:ATHN)‘s stock had its “overweight” rating restated by Piper Jaffray Companies in a research report issued to clients and investors on Friday, The Fly reports. They presently have a $171.00 price target on the health services provider’s stock. Piper Jaffray Companies’ price target indicates a potential upside of 9.66% from the stock’s current price. The analysts noted that the move was a valuation call.
Several other analysts also recently issued reports on the company. Jefferies Group LLC reissued a “sell” rating and set a $95.00 target price on shares of athenahealth in a research note on Friday, March 24th. BidaskClub raised athenahealth from a “hold” rating to a “buy” rating in a research note on Saturday, June 24th. Citigroup Inc. set a $128.00 target price on athenahealth and gave the company a “buy” rating in a research note on Monday, May 1st. Cantor Fitzgerald reissued a “buy” rating and set a $118.00 target price (down previously from $135.00) on shares of athenahealth in a research note on Thursday, April 27th. Finally, Evercore ISI reissued an “outperform” rating and set a $147.00 target price (up previously from $118.00) on shares of athenahealth in a research note on Friday, May 19th. One research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $146.45.
athenahealth (ATHN) opened at 155.93 on Friday. The stock has a market cap of $6.21 billion, a price-to-earnings ratio of 306.95 and a beta of 1.79. The stock’s 50 day moving average price is $141.51 and its 200 day moving average price is $122.62. athenahealth has a one year low of $90.11 and a one year high of $158.66.
athenahealth (NASDAQ:ATHN) last issued its earnings results on Thursday, July 20th. The health services provider reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.12. The company had revenue of $301.10 million for the quarter, compared to the consensus estimate of $298.68 million. athenahealth had a return on equity of 7.11% and a net margin of 2.80%. The firm’s quarterly revenue was up 15.0% on a year-over-year basis. During the same quarter last year, the company earned $0.34 EPS. Equities analysts predict that athenahealth will post $1.86 earnings per share for the current fiscal year.
In related news, SVP Jonathan D. Porter sold 300 shares of the business’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of $109.48, for a total transaction of $32,844.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jonathan Bush sold 4,000 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $140.52, for a total value of $562,080.00. Following the transaction, the chief executive officer now owns 319,807 shares of the company’s stock, valued at approximately $44,939,279.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,105 shares of company stock valued at $3,394,859. 3.20% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of athenahealth by 30,642.6% in the first quarter. BlackRock Inc. now owns 1,599,847 shares of the health services provider’s stock valued at $180,286,000 after buying an additional 1,594,643 shares during the period. Morgan Stanley raised its stake in shares of athenahealth by 9.7% in the first quarter. Morgan Stanley now owns 4,514,305 shares of the health services provider’s stock valued at $508,717,000 after buying an additional 397,837 shares during the period. Clearbridge Investments LLC raised its stake in shares of athenahealth by 61.8% in the first quarter. Clearbridge Investments LLC now owns 908,505 shares of the health services provider’s stock valued at $102,379,000 after buying an additional 347,133 shares during the period. Credit Suisse AG raised its stake in shares of athenahealth by 404.5% in the first quarter. Credit Suisse AG now owns 300,420 shares of the health services provider’s stock valued at $33,854,000 after buying an additional 240,876 shares during the period. Finally, Norges Bank acquired a new stake in shares of athenahealth during the fourth quarter valued at $20,750,000.
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.
Receive News & Ratings for athenahealth Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for athenahealth Inc. and related companies with MarketBeat.com's FREE daily email newsletter.
