athenahealth (ATHN) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

athenahealth (NASDAQ:ATHN) issued its quarterly earnings data on Friday. The health services provider reported $0.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.10, Morningstar.com reports. athenahealth had a net margin of 8.71% and a return on equity of 14.71%. The firm had revenue of $331.40 million for the quarter, compared to analysts’ expectations of $336.98 million. During the same quarter in the prior year, the business earned $0.56 EPS. The business’s quarterly revenue was up 8.8% on a year-over-year basis. athenahealth updated its FY 2018 guidance to EPS.

ATHN traded down $4.53 during trading on Friday, reaching $120.35. 849,908 shares of the company traded hands, compared to its average volume of 557,273. The company has a debt-to-equity ratio of 0.23, a current ratio of 2.62 and a quick ratio of 2.62. athenahealth has a 12-month low of $116.77 and a 12-month high of $163.94. The firm has a market cap of $5.12 billion, a P/E ratio of 76.66, a price-to-earnings-growth ratio of 2.23 and a beta of 0.80.

In other athenahealth news, insider Daniel P. Haley sold 2,204 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $127.23, for a total transaction of $280,414.92. Following the completion of the sale, the insider now directly owns 10,555 shares of the company’s stock, valued at approximately $1,342,912.65. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 2,654 shares of company stock valued at $340,770. Insiders own 2.90% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alpine Associates Management Inc. purchased a new stake in athenahealth during the 3rd quarter valued at approximately $10,534,000. Canada Pension Plan Investment Board grew its holdings in athenahealth by 144.0% during the 3rd quarter. Canada Pension Plan Investment Board now owns 194,700 shares of the health services provider’s stock valued at $26,012,000 after buying an additional 114,900 shares in the last quarter. Trexquant Investment LP purchased a new stake in athenahealth during the 3rd quarter valued at approximately $2,740,000. DekaBank Deutsche Girozentrale grew its holdings in athenahealth by 9.1% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 8,237 shares of the health services provider’s stock valued at $1,262,000 after buying an additional 687 shares in the last quarter. Finally, Atlas Capital Advisors LLC purchased a new stake in athenahealth during the 3rd quarter valued at approximately $596,000.

Several research firms recently issued reports on ATHN. Leerink Swann set a $138.00 target price on shares of athenahealth and gave the stock a “hold” rating in a report on Thursday, November 1st. BidaskClub raised shares of athenahealth from a “strong sell” rating to a “sell” rating in a report on Saturday, October 13th. Royal Bank of Canada reissued a “hold” rating and issued a $140.00 target price on shares of athenahealth in a report on Friday, September 28th. MED reduced their target price on shares of athenahealth to $140.00 and set a “hold” rating for the company in a report on Wednesday, September 19th. Finally, SunTrust Banks reduced their target price on shares of athenahealth to $150.00 in a report on Wednesday, September 19th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $153.79.

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About athenahealth

athenahealth, Inc, together with its subsidiaries, provides network-based medical record, revenue cycle, patient engagement, care coordination, and population health services for medical groups and health systems. It offers athenaCollector, a network-enabled billing and practice management solution; athenaClinicals, an electronic health record for managing patient's clinical documentation; athenaCommunicator, an engagement and communication solution that provides an automated communication service between patients and provider practices for interactions outside the exam room; and athenaCoordinator for order transmission and care coordination services.

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Earnings History for athenahealth (NASDAQ:ATHN)

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