athenahealth (ATHN) Cut to Strong Sell at BidaskClub

BidaskClub lowered shares of athenahealth (NASDAQ:ATHN) from a sell rating to a strong sell rating in a research report report published on Saturday.

Other equities analysts also recently issued research reports about the company. Robert W. Baird downgraded athenahealth from an outperform rating to a neutral rating and cut their price target for the company from $160.00 to $135.00 in a research note on Monday, November 12th. MED cut their price target on athenahealth to $140.00 and set a hold rating for the company in a research note on Wednesday, September 19th. Canaccord Genuity cut their price target on athenahealth from $160.00 to $135.00 and set a hold rating for the company in a research note on Tuesday, November 13th. Leerink Swann set a $140.00 price target on athenahealth and gave the company a buy rating in a research note on Friday, September 28th. Finally, Evercore ISI downgraded athenahealth to an outperform rating in a research note on Monday, November 12th. One analyst has rated the stock with a sell rating, twenty have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $147.71.

Shares of ATHN opened at $132.48 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market capitalization of $5.40 billion, a PE ratio of 84.38, a PEG ratio of 2.39 and a beta of 0.82. athenahealth has a one year low of $116.77 and a one year high of $163.94.

athenahealth (NASDAQ:ATHN) last issued its earnings results on Friday, November 9th. The health services provider reported $0.81 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.10. The company had revenue of $331.40 million during the quarter, compared to the consensus estimate of $336.98 million. athenahealth had a return on equity of 15.35% and a net margin of 9.57%. The firm’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period last year, the business posted $0.56 EPS. On average, sell-side analysts forecast that athenahealth will post 3.15 earnings per share for the current fiscal year.

In other news, insider Daniel P. Haley sold 2,204 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $127.23, for a total value of $280,414.92. Following the transaction, the insider now owns 10,555 shares in the company, valued at approximately $1,342,912.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold a total of 2,504 shares of company stock worth $317,891 in the last 90 days. Company insiders own 2.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in ATHN. Point72 Hong Kong Ltd boosted its stake in shares of athenahealth by 1,195.2% in the 3rd quarter. Point72 Hong Kong Ltd now owns 816 shares of the health services provider’s stock worth $109,000 after buying an additional 753 shares during the last quarter. Integrated Investment Consultants LLC purchased a new position in shares of athenahealth in the 2nd quarter worth approximately $150,000. Ropes Wealth Advisors LLC purchased a new position in shares of athenahealth in the 2nd quarter worth approximately $194,000. Strs Ohio purchased a new position in shares of athenahealth in the 2nd quarter worth approximately $208,000. Finally, D.A. Davidson & CO. purchased a new position in shares of athenahealth in the 2nd quarter worth approximately $223,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

athenahealth Company Profile

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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