Piper Jaffray Companies Reaffirms “Buy” Rating for athenahealth, Inc. (ATHN)

Piper Jaffray Companies reiterated their buy rating on shares of athenahealth, Inc. (NASDAQ:ATHN) in a research report report published on Tuesday, October 17th. They currently have a $167.00 price target on the health services provider’s stock.

Other equities research analysts have also recently issued research reports about the company. TheStreet raised athenahealth from a c rating to a b- rating in a research report on Thursday, July 20th. BidaskClub raised athenahealth from a hold rating to a buy rating in a research report on Saturday, June 24th. Citigroup Inc. reissued a buy rating and issued a $169.00 price objective (up from $163.00) on shares of athenahealth in a research report on Monday, July 10th. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $150.00 target price on shares of athenahealth in a research report on Monday, July 17th. Finally, Robert W. Baird reaffirmed a buy rating and issued a $170.00 target price on shares of athenahealth in a research report on Thursday, August 31st. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $144.30.

Shares of athenahealth (NASDAQ:ATHN) traded up 2.73% during trading on Tuesday, hitting $126.20. 150,580 shares of the stock traded hands. The firm has a market cap of $5.04 billion, a PE ratio of 160.15 and a beta of 1.76. athenahealth has a 52-week low of $90.11 and a 52-week high of $158.66. The company’s 50 day moving average is $124.53 and its 200 day moving average is $130.71.

athenahealth (NASDAQ:ATHN) last released its quarterly earnings data on Thursday, October 19th. The health services provider reported $0.56 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.06. athenahealth had a return on equity of 6.78% and a net margin of 2.65%. The firm had revenue of $304.60 million for the quarter, compared to the consensus estimate of $310.52 million. During the same quarter in the prior year, the company posted $0.60 earnings per share. The firm’s revenue was up 10.1% on a year-over-year basis. On average, equities research analysts predict that athenahealth will post $2.00 EPS for the current year.

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In other news, CEO Jonathan Bush sold 4,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 319,807 shares in the company, valued at approximately $45,831,541.17. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Brandon H. Hull sold 800 shares of the company’s stock in a transaction on Friday, October 20th. The shares were sold at an average price of $130.00, for a total value of $104,000.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,583 shares of company stock valued at $2,236,924. Corporate insiders own 3.20% of the company’s stock.

Institutional investors have recently bought and sold shares of the company. Elliott Management Corp acquired a new position in shares of athenahealth during the 2nd quarter worth $52,706,000. UBS Asset Management Americas Inc. raised its holdings in shares of athenahealth by 33.2% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 30,536 shares of the health services provider’s stock worth $4,292,000 after buying an additional 7,605 shares in the last quarter. Scout Investments Inc. raised its holdings in shares of athenahealth by 67.2% during the 2nd quarter. Scout Investments Inc. now owns 115,663 shares of the health services provider’s stock worth $16,256,000 after buying an additional 46,507 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of athenahealth by 1.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 72,918 shares of the health services provider’s stock worth $10,249,000 after buying an additional 1,222 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in shares of athenahealth by 6.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 170,978 shares of the health services provider’s stock worth $24,031,000 after buying an additional 9,960 shares in 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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