BidaskClub Lowers athenahealth (ATHN) to Strong Sell

BidaskClub cut shares of athenahealth (NASDAQ:ATHN) from a sell rating to a strong sell rating in a research report sent to investors on Saturday morning.

A number of other equities analysts have also weighed in on the company. Cantor Fitzgerald reiterated a hold rating and issued a $120.00 price target on shares of athenahealth in a research report on Friday, October 27th. Deutsche Bank assumed coverage on athenahealth in a research report on Friday, December 8th. They issued a hold rating and a $145.00 price target for the company. KeyCorp decreased their price target on athenahealth from $170.00 to $140.00 and set an overweight rating for the company in a research report on Friday, October 20th. Leerink Swann decreased their price target on athenahealth from $155.00 to $125.00 and set a market perform rating for the company in a research report on Monday, October 23rd. Finally, Royal Bank of Canada set a $144.00 price target on athenahealth and gave the company a hold rating in a research report on Friday, October 20th. Three analysts have rated the stock with a sell rating, sixteen have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $144.96.

athenahealth (ATHN) opened at $141.30 on Friday. athenahealth has a 52 week low of $95.01 and a 52 week high of $158.66. The firm has a market capitalization of $5,650.00, a PE ratio of 108.69, a P/E/G ratio of 3.20 and a beta of 1.35. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 0.32.

athenahealth (NASDAQ:ATHN) last announced its earnings results on Thursday, February 1st. The health services provider reported $1.11 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.63 by $0.48. athenahealth had a return on equity of 9.21% and a net margin of 4.35%. The business had revenue of $329.20 million during the quarter, compared to analysts’ expectations of $319.64 million. During the same quarter last year, the business posted $0.62 earnings per share. The company’s quarterly revenue was up 14.2% on a year-over-year basis. equities analysts forecast that athenahealth will post 2 EPS for the current fiscal year.

In other athenahealth news, CEO Jonathan Bush sold 30,000 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $134.80, for a total transaction of $4,044,000.00. Following the completion of the sale, the chief executive officer now directly owns 320,807 shares in the company, valued at approximately $43,244,783.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amy Abernethy sold 500 shares of the firm’s stock in a transaction dated Tuesday, December 26th. The stock was sold at an average price of $134.18, for a total value of $67,090.00. Following the sale, the director now owns 4,045 shares of the company’s stock, valued at $542,758.10. The disclosure for this sale can be found here. Insiders have sold a total of 73,050 shares of company stock valued at $9,775,301 over the last 90 days. Corporate insiders own 3.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. raised its stake in shares of athenahealth by 53.9% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,700 shares of the health services provider’s stock worth $1,823,000 after purchasing an additional 4,800 shares in the last quarter. Stephens Investment Management Group LLC raised its stake in shares of athenahealth by 6.7% during the 4th quarter. Stephens Investment Management Group LLC now owns 289,372 shares of the health services provider’s stock worth $38,498,000 after purchasing an additional 18,292 shares in the last quarter. Ballentine Partners LLC raised its stake in shares of athenahealth by 1,783.7% during the 4th quarter. Ballentine Partners LLC now owns 45,265 shares of the health services provider’s stock worth $6,022,000 after purchasing an additional 42,862 shares in the last quarter. Kornitzer Capital Management Inc. KS raised its stake in shares of athenahealth by 5.7% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 221,590 shares of the health services provider’s stock worth $29,480,000 after purchasing an additional 11,875 shares in the last quarter. Finally, Cambiar Investors LLC purchased a new stake in shares of athenahealth during the 4th quarter worth about $10,018,000.

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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.

Analyst Recommendations for athenahealth (NASDAQ:ATHN)

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