athenahealth, Inc. (NASDAQ:ATHN) issued its earnings results on Thursday, October 19th. The health services provider reported $0.56 EPS for the quarter, beating the Zacks’ consensus estimate of $0.50 by $0.06, Bloomberg Earnings reports. 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 analyst estimates of $310.52 million. During the same quarter in the prior year, the firm earned $0.60 earnings per share. athenahealth’s revenue for the quarter was up 10.1% on a year-over-year basis.
Shares of athenahealth (ATHN) traded up 5.09% during trading on Friday, hitting $129.10. The stock had a trading volume of 768,174 shares. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 163.83 and a beta of 1.76. athenahealth has a 12-month low of $90.11 and a 12-month high of $158.66. The stock has a 50-day moving average of $123.99 and a 200 day moving average of $130.76.
In other news, insider Daniel P. Haley sold 1,583 shares of the firm’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $124.56, for a total value of $197,178.48. Following the sale, the insider now directly owns 13,408 shares of the company’s stock, valued at $1,670,100.48. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Brandon H. Hull sold 800 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $140.01, for a total value of $112,008.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,583 shares of company stock worth $2,236,924. 3.20% of the stock is currently owned by company insiders.
An institutional investor recently raised its position in athenahealth stock. The Manufacturers Life Insurance Company raised its stake in shares of athenahealth, Inc. (NASDAQ:ATHN) by 7.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,179 shares of the health services provider’s stock after purchasing an additional 84 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in athenahealth were worth $166,000 as of its most recent filing with the Securities and Exchange Commission.
ATHN has been the subject of several research analyst reports. BidaskClub downgraded athenahealth from a “buy” rating to a “hold” rating in a research note on Tuesday, July 4th. Argus initiated coverage on athenahealth in a research note on Friday, July 7th. They set a “hold” rating for the company. Dougherty & Co downgraded athenahealth from a “buy” rating to a “neutral” rating in a research note on Friday, July 7th. Citigroup Inc. reaffirmed a “buy” rating and set a $169.00 target price (up from $163.00) on shares of athenahealth in a research note on Monday, July 10th. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and set a $152.00 target price on shares of athenahealth in a research note on Friday, July 14th. Two 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. athenahealth currently has a consensus rating of “Hold” and an average target price of $143.22.
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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.
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