athenahealth, Inc. (ATHN) Stock Price Up 0.2% Following Analyst Upgrade

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

A number of other brokerages have also issued reports on ATHN. Wells Fargo & Company reissued an “outperform” rating and issued a $190.00 price target (up from $130.00) on shares of athenahealth in a research note on Saturday, July 22nd. Evercore ISI reissued an “outperform” rating and issued a $163.00 price target (up from $155.00) on shares of athenahealth in a research note on Saturday, July 22nd. TheStreet raised athenahealth from a “c” rating to a “b-” rating in a research note on Thursday, July 20th. First Analysis lowered athenahealth from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $99.00 to $125.00 in a research note on Monday, July 24th. Finally, UBS AG restated a “positive” rating and issued a $175.00 price objective (up from $157.00) on shares of athenahealth in a report on Monday, July 24th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. athenahealth has an average rating of “Hold” and a consensus price target of $148.64.

In other athenahealth news, SVP Jonathan D. Porter sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $142.27, for a total transaction of $42,681.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brandon H. Hull sold 800 shares of the firm’s stock in a transaction that occurred on 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 90 days, insiders have sold 14,874 shares of company stock valued at $2,102,697. 3.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its position in shares of athenahealth by 0.8% in the second quarter. FMR LLC now owns 5,975,119 shares of the health services provider’s stock valued at $839,803,000 after buying an additional 47,341 shares during the last quarter. Janus Henderson Group PLC purchased a new position in shares of athenahealth during the second quarter valued at approximately $713,856,000. 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 valued at $508,717,000 after buying an additional 397,837 shares during the last quarter. Wellington Management Group LLP raised its position in shares of athenahealth by 1.0% in the first quarter. Wellington Management Group LLP now owns 3,464,730 shares of the health services provider’s stock valued at $390,441,000 after buying an additional 35,241 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of athenahealth by 1.8% in the second quarter. Vanguard Group Inc. now owns 3,100,643 shares of the health services provider’s stock valued at $435,795,000 after buying an additional 53,361 shares during the last quarter.

The stock has a market capitalization of $5.64 billion, a P/E ratio of 179.37 and a beta of 1.77. The company has a 50-day moving average of $142.46 and a 200 day moving average of $126.16.

athenahealth (NASDAQ:ATHN) last released its quarterly earnings data on Thursday, July 20th. The health services provider reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.12. athenahealth had a return on equity of 6.91% and a net margin of 2.80%. The company had revenue of $301.10 million for the quarter, compared to analyst estimates of $298.68 million. During the same period in the prior year, the company posted $0.34 EPS. The company’s revenue was up 15.0% compared to the same quarter last year. Equities research analysts expect that athenahealth, Inc. will post $1.91 earnings per share for the current year.

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athenahealth Company Profile

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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