Blue Sky Asset Management LLC Buys Shares of 3,450 athenahealth, Inc. (ATHN)

Blue Sky Asset Management LLC purchased a new stake in shares of athenahealth, Inc. (NASDAQ:ATHN) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 3,450 shares of the health services provider’s stock, valued at approximately $485,000.

Several other institutional investors also recently modified their holdings of the stock. FNY Partners Fund LP increased its position in shares of athenahealth by 1,900.0% in the first quarter. FNY Partners Fund LP now owns 1,000 shares of the health services provider’s stock valued at $112,000 after buying an additional 950 shares during the last quarter. Russell Investments Group Ltd. acquired a new stake in athenahealth during the fourth quarter valued at approximately $118,000. Bessemer Group Inc. boosted its stake in athenahealth by 13.7% in the second quarter. Bessemer Group Inc. now owns 938 shares of the health services provider’s stock valued at $132,000 after buying an additional 113 shares during the period. Seven Bridges Advisors LLC boosted its stake in athenahealth by 5.4% in the second quarter. Seven Bridges Advisors LLC now owns 1,303 shares of the health services provider’s stock valued at $183,000 after buying an additional 67 shares during the period. Finally, Teza Capital Management LLC acquired a new stake in athenahealth during the first quarter valued at approximately $220,000.

Shares of athenahealth, Inc. (NASDAQ:ATHN) traded up 0.30% during mid-day trading on Friday, reaching $141.34. The company had a trading volume of 393,900 shares. The stock has a 50 day moving average of $142.46 and a 200-day moving average of $126.16. athenahealth, Inc. has a 52 week low of $90.11 and a 52 week high of $158.66. The company has a market capitalization of $5.64 billion, a price-to-earnings ratio of 179.37 and a beta of 1.77.

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

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Several research firms recently commented on ATHN. UBS AG set a $123.00 price objective on athenahealth and gave the company a “buy” rating in a research report on Monday, May 1st. Piper Jaffray Companies reaffirmed a “buy” rating and set a $152.00 price objective on shares of athenahealth in a research report on Friday, July 14th. Barclays PLC set a $88.00 price objective on athenahealth and gave the company an “underweight” rating in a research report on Monday, May 1st. Robert W. Baird raised their target price on athenahealth from $140.00 to $160.00 and gave the stock an “outperform” rating in a research report on Thursday, May 25th. Finally, Dougherty & Co raised their target price on athenahealth from $123.00 to $148.00 and gave the stock a “buy” rating in a research report on Tuesday, May 23rd. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $148.64.

In other athenahealth news, CFO Karl Stubelis sold 3,952 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $138.98, for a total transaction of $549,248.96. Following the transaction, the chief financial officer now 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 accessible through the SEC website. Also, SVP Jonathan D. Porter sold 300 shares of the stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $142.88, for a total value of $42,864.00. The disclosure for this sale can be found here. Insiders have sold 14,874 shares of company stock worth $2,102,697 in the last quarter. 3.20% of the stock is currently owned by company insiders.

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.

Institutional Ownership by Quarter for athenahealth (NASDAQ:ATHN)

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