athenahealth’s (ATHN) “Buy” Rating Reaffirmed at Piper Jaffray Companies

Piper Jaffray Companies restated their buy rating on shares of athenahealth, Inc. (NASDAQ:ATHN) in a research report released on Tuesday morning. The brokerage currently has a $167.00 target price on the health services provider’s stock.

A number of other research analysts have also recently issued reports on ATHN. BidaskClub raised athenahealth from a hold rating to a buy rating in a research note on Saturday, June 24th. Jefferies Group LLC reissued a hold rating and issued a $135.00 target price on shares of athenahealth in a research note on Monday, June 26th. Argus started coverage on athenahealth in a research note on Friday, July 7th. They issued a hold rating for the company. Dougherty & Co cut athenahealth from a buy rating to a neutral rating in a research note on Friday, July 7th. Finally, Citigroup Inc. reissued a buy rating and issued a $169.00 target price (up from $163.00) on shares of athenahealth in a research note on Monday, July 10th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of $149.30.

athenahealth (NASDAQ:ATHN) last posted its earnings results on Thursday, July 20th. The health services provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. athenahealth had a return on equity of 6.91% and a net margin of 2.80%. The firm had revenue of $301.10 million during the quarter, compared to analysts’ expectations of $298.68 million. During the same period in the previous year, the firm earned $0.34 earnings per share. The company’s revenue was up 15.0% on a year-over-year basis.

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In other athenahealth news, CEO Jonathan Bush sold 4,000 shares of athenahealth stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $143.31, for a total transaction of $573,240.00. Following the completion of the transaction, the chief executive officer now owns 319,807 shares in the company, valued at approximately $45,831,541.17. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jonathan D. Porter sold 422 shares of athenahealth stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $154.00, for a total value of $64,988.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,205 shares of company stock valued at $2,197,912. 3.20% of the stock is currently owned by company insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Comerica Bank boosted its stake in athenahealth by 0.6% during the 1st quarter. Comerica Bank now owns 2,487 shares of the health services provider’s stock valued at $302,000 after purchasing an additional 14 shares during the last quarter. Advisor Group Inc. boosted its stake in athenahealth by 2.8% during the 2nd quarter. Advisor Group Inc. now owns 1,744 shares of the health services provider’s stock valued at $244,000 after purchasing an additional 47 shares during the last quarter. Seven Bridges Advisors LLC boosted its stake in athenahealth by 5.4% during the 2nd quarter. Seven Bridges Advisors LLC now owns 1,303 shares of the health services provider’s stock valued at $183,000 after purchasing an additional 67 shares during the last quarter. Teacher Retirement System of Texas boosted its stake in athenahealth by 2.2% during the 2nd quarter. Teacher Retirement System of Texas now owns 3,156 shares of the health services provider’s stock valued at $444,000 after purchasing an additional 67 shares during the last quarter. Finally, State of Wisconsin Investment Board boosted its stake in athenahealth by 0.9% during the 2nd quarter. State of Wisconsin Investment Board now owns 7,868 shares of the health services provider’s stock valued at $1,106,000 after purchasing an additional 70 shares during the last quarter.

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.

Analyst Recommendations for athenahealth (NASDAQ:ATHN)

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