Zacks: Analysts Expect athenahealth, Inc (ATHN) Will Announce Quarterly Sales of $322.14 Million

Brokerages predict that athenahealth, Inc (NASDAQ:ATHN) will announce sales of $322.14 million for the current quarter, Zacks reports. Eighteen analysts have provided estimates for athenahealth’s earnings, with the lowest sales estimate coming in at $313.50 million and the highest estimate coming in at $333.50 million. athenahealth reported sales of $288.20 million during the same quarter last year, which indicates a positive year over year growth rate of 11.8%. The firm is expected to issue its next earnings results after the market closes on Thursday, February 1st.

According to Zacks, analysts expect that athenahealth will report full year sales of $322.14 million for the current financial year, with estimates ranging from $1.20 billion to $1.22 billion. For the next year, analysts forecast that the firm will post sales of $1.35 billion per share, with estimates ranging from $1.31 billion to $1.39 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that that provide coverage for athenahealth.

athenahealth (NASDAQ:ATHN) last issued its earnings results on Thursday, October 19th. The health services provider reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.06. The company had revenue of $304.60 million during the quarter, compared to analysts’ expectations of $310.52 million. athenahealth had a return on equity of 6.78% and a net margin of 2.65%. athenahealth’s quarterly revenue was up 10.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 EPS.

A number of research analysts have commented on the company. Oppenheimer reaffirmed a “buy” rating and set a $184.00 price target on shares of athenahealth in a research report on Friday, October 20th. Piper Jaffray Companies reaffirmed a “buy” rating and set a $167.00 price target on shares of athenahealth in a research report on Tuesday, October 17th. SunTrust Banks reaffirmed a “buy” rating and set a $156.00 price target on shares of athenahealth in a research report on Wednesday, October 25th. Wells Fargo & Co lowered their price target on athenahealth from $190.00 to $155.00 and set an “outperform” rating for the company in a research report on Monday, October 23rd. Finally, Canaccord Genuity reaffirmed a “hold” rating and set a $123.00 price target (down previously from $144.00) on shares of athenahealth in a research report on Monday, October 23rd. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and nine have given a buy rating to the company’s stock. athenahealth currently has a consensus rating of “Hold” and a consensus target price of $143.96.

athenahealth (NASDAQ ATHN) traded down $2.03 on Thursday, reaching $126.18. The company’s stock had a trading volume of 551,800 shares, compared to its average volume of 407,582. The company has a market cap of $5,050.00, a price-to-earnings ratio of 163.87, a price-to-earnings-growth ratio of 3.00 and a beta of 1.58. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.67. athenahealth has a fifty-two week low of $95.01 and a fifty-two week high of $158.66.

In related news, Director Brandon H. Hull sold 800 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $130.00, for a total transaction of $104,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Bradford Kyle Armbrester sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $128.56, for a total value of $128,560.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,700 shares of company stock valued at $9,375,172. 3.20% of the stock is owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC boosted its stake in athenahealth by 0.8% during the 2nd quarter. FMR LLC now owns 5,975,119 shares of the health services provider’s stock valued at $839,803,000 after purchasing an additional 47,341 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of athenahealth in the 2nd quarter worth $713,856,000. Vanguard Group Inc. boosted its stake in shares of athenahealth by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,100,643 shares of the health services provider’s stock worth $435,795,000 after buying an additional 53,361 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of athenahealth by 15.5% in the 2nd quarter. Capital Research Global Investors now owns 2,041,714 shares of the health services provider’s stock worth $286,963,000 after buying an additional 273,660 shares during the last quarter. Finally, BlackRock Inc. boosted its stake in shares of athenahealth by 2.0% in the 2nd quarter. BlackRock Inc. now owns 1,631,993 shares of the health services provider’s stock worth $229,377,000 after buying an additional 32,146 shares during the last quarter.

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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.

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