athenahealth, Inc. (ATHN) Trading Up 0.2% on Analyst Upgrade

athenahealth, Inc. (NASDAQ:ATHN)’s share price traded up 0.2% during trading on Monday after ValuEngine upgraded the stock from a sell rating to a hold rating. The stock traded as high as $158.66 and last traded at $156.20, with a volume of 329,384 shares changing hands. The stock had previously closed at $155.93.

Several other equities analysts have also recently commented on the stock. Citigroup Inc. reissued a “buy” rating and set a $186.00 target price (up previously from $169.00) on shares of athenahealth in a research note on Monday, July 24th. Leerink Swann reaffirmed a “positive” rating and issued a $155.00 price objective (up previously from $140.00) on shares of athenahealth in a research note on Monday, July 24th. UBS AG reaffirmed a “positive” rating and issued a $175.00 price objective (up previously from $157.00) on shares of athenahealth in a research note on Monday, July 24th. First Analysis cut shares of athenahealth from an “equal weight” rating to an “underweight” rating and lifted their price objective for the stock from $99.00 to $125.00 in a research note on Monday, July 24th. Finally, TheStreet raised shares of athenahealth from a “c” rating to a “b-” rating in a research note on Thursday, July 20th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $148.64.

In related news, CEO Jonathan Bush sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $143.31, for a total transaction of $573,240.00. Following the transaction, the chief executive officer now owns 319,807 shares of the company’s stock, valued at $45,831,541.17. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brandon H. Hull sold 800 shares of the business’s stock in a transaction on Tuesday, August 1st. The stock was 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. In the last three months, insiders sold 22,905 shares of company stock worth $3,120,107. Insiders own 3.20% of the company’s stock.

A number of institutional investors have recently made changes to their positions in ATHN. BlackRock Inc. raised its position 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 worth $180,286,000 after buying an additional 1,594,643 shares during the period. Morgan Stanley raised its position 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 worth $508,717,000 after buying an additional 397,837 shares during the period. Clearbridge Investments LLC raised its position 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 worth $102,379,000 after buying an additional 347,133 shares during the period. Credit Suisse AG raised its position 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 worth $33,854,000 after buying an additional 240,876 shares during the period. Finally, Vanguard Group Inc. increased its stake in athenahealth by 4.5% in the first quarter. Vanguard Group Inc. now owns 3,047,282 shares of the health services provider’s stock worth $343,399,000 after buying an additional 130,569 shares in the last quarter.

The firm has a 50 day moving average price of $142.63 and a 200-day moving average price of $125.50. The firm has a market cap of $5.60 billion, a PE ratio of 178.13 and a beta of 1.77.

athenahealth (NASDAQ:ATHN) last posted its quarterly earnings results on Thursday, July 20th. The health services provider reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. athenahealth had a return on equity of 6.91% and a net margin of 2.80%. The business had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $298.68 million. During the same quarter in the prior year, the business earned $0.34 EPS. The firm’s revenue for the quarter was up 15.0% on a year-over-year basis. Analysts forecast that athenahealth, Inc. will post $1.92 EPS for the current fiscal year.

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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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