athenahealth, Inc. (NASDAQ:ATHN) Cut to Sell at BidaskClub

BidaskClub lowered shares of athenahealth, Inc. (NASDAQ:ATHN) from a hold rating to a sell rating in a research note released on Tuesday, August 1st.

ATHN has been the subject of several other research reports. UBS AG reiterated a buy rating and set a $152.00 price objective (up previously from $123.00) on shares of athenahealth in a research note on Wednesday, May 31st. Citigroup Inc. reiterated a buy rating and set a $163.00 price objective (up previously from $128.00) on shares of athenahealth in a research note on Monday, June 5th. Piper Jaffray Companies reissued a buy rating and set a $152.00 target price on shares of athenahealth in a research report on Friday, July 14th. Oppenheimer Holdings, Inc. boosted their target price on shares of athenahealth from $154.00 to $184.00 and gave the stock an outperform rating in a research report on Friday, July 21st. Finally, Wells Fargo & Company reissued an outperform rating and set a $190.00 target price (up previously from $130.00) on shares of athenahealth in a research report on Saturday, July 22nd. Three equities 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 stock has a consensus rating of Hold and a consensus price target of $148.64.

athenahealth (NASDAQ:ATHN) traded up 0.30% during midday trading on Tuesday, hitting $141.34. 393,900 shares of the stock were exchanged. athenahealth has a 12 month low of $90.11 and a 12 month high of $158.66. The company has a market cap of $5.64 billion, a PE ratio of 179.37 and a beta of 1.77. The firm’s 50 day moving average price is $142.46 and its 200 day moving average price is $126.16.

athenahealth (NASDAQ:ATHN) last posted its quarterly earnings data on Thursday, July 20th. The health services provider reported $0.51 EPS for the quarter, topping the consensus estimate of $0.39 by $0.12. The firm had revenue of $301.10 million during the quarter, compared to analyst estimates of $298.68 million. athenahealth had a net margin of 2.80% and a return on equity of 6.91%. athenahealth’s revenue was up 15.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.34 EPS. On average, equities research analysts forecast that athenahealth will post $1.91 earnings per share for the current fiscal year.

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In other news, CFO Karl Stubelis sold 3,952 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $138.98, for a total value of $549,248.96. Following the completion of the sale, the chief financial officer now directly owns 21,810 shares in the company, valued at $3,031,153.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jonathan D. Porter sold 300 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $142.88, for a total transaction of $42,864.00. The disclosure for this sale can be found here. Insiders sold 14,874 shares of company stock valued at $2,102,697 over the last quarter. Company insiders own 3.20% of the company’s stock.

Several large investors have recently made changes to their positions in the stock. Norges Bank purchased a new stake in shares of athenahealth during the fourth quarter worth about $20,750,000. 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 worth $180,286,000 after buying an additional 1,594,643 shares in the last quarter. State Street Corp raised its stake in shares of athenahealth by 3.7% in the first quarter. State Street Corp now owns 502,823 shares of the health services provider’s stock worth $56,662,000 after buying an additional 17,718 shares in the last quarter. Rockefeller Financial Services Inc. raised its stake in shares of athenahealth by 13.1% in the first quarter. Rockefeller Financial Services Inc. now owns 8,445 shares of the health services provider’s stock worth $952,000 after buying an additional 975 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of athenahealth by 14.0% in the first quarter. UBS Asset Management Americas Inc. now owns 22,931 shares of the health services provider’s stock worth $2,584,000 after buying an additional 2,820 shares in the last quarter.

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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