SunTrust Banks, Inc. Reaffirms “Buy” Rating for athenahealth, Inc. (ATHN)

athenahealth, Inc. (NASDAQ:ATHN)‘s stock had its “buy” rating reissued by research analysts at SunTrust Banks, Inc. in a research note issued to investors on Wednesday, October 25th. They presently have a $156.00 price objective on the health services provider’s stock. SunTrust Banks, Inc.’s target price would indicate a potential upside of 25.26% from the company’s previous close. SunTrust Banks also issued estimates for athenahealth’s Q4 2017 earnings at $0.42 EPS, FY2017 earnings at $1.18 EPS, FY2018 earnings at $1.78 EPS and FY2019 earnings at $2.35 EPS.

ATHN has been the subject of a number of other research reports. Piper Jaffray Companies reiterated a “buy” rating and issued a $152.00 price objective on shares of athenahealth in a report on Friday, July 14th. Leerink Swann set a $155.00 price objective on shares of athenahealth and gave the company a “hold” rating in a report on Thursday, October 19th. Oppenheimer Holdings, Inc. raised their price objective on shares of athenahealth from $154.00 to $184.00 and gave the company an “outperform” rating in a report on Friday, July 21st. Wells Fargo & Company reiterated an “outperform” rating and issued a $190.00 price objective (up previously from $130.00) on shares of athenahealth in a report on Saturday, July 22nd. Finally, BidaskClub downgraded shares of athenahealth from a “hold” rating to a “sell” rating in a research report on Tuesday, August 1st. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have issued a buy rating to the company’s stock. athenahealth presently has a consensus rating of “Hold” and an average price target of $143.22.

Shares of athenahealth (ATHN) opened at $124.54 on Wednesday. The firm has a market cap of $4,983.84, a PE ratio of 105.54, a P/E/G ratio of 5.01 and a beta of 1.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.67 and a current ratio of 1.67. athenahealth has a 52-week low of $90.11 and a 52-week high of $158.66.

athenahealth (NASDAQ:ATHN) last posted its earnings results 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. The firm had revenue of $304.60 million during the quarter, compared to analysts’ expectations of $310.52 million. athenahealth had a net margin of 2.65% and a return on equity of 6.78%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.60 earnings per share. analysts expect that athenahealth will post 1.12 EPS for the current fiscal year.

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In other news, SVP Bradford Kyle Armbrester sold 1,000 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $128.56, for a total transaction of $128,560.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jonathan D. Porter sold 300 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $142.88, for a total value of $42,864.00. The disclosure for this sale can be found here. Insiders have sold a total of 12,783 shares of company stock valued at $1,680,236 in the last ninety days. Insiders own 3.20% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. Trexquant Investment LP bought a new stake in athenahealth in the 3rd quarter worth approximately $727,000. Legal & General Group Plc lifted its position in athenahealth by 18.3% in the 3rd quarter. Legal & General Group Plc now owns 16,983 shares of the health services provider’s stock worth $2,112,000 after buying an additional 2,625 shares during the last quarter. Sivik Global Healthcare LLC bought a new stake in athenahealth in the 3rd quarter worth approximately $1,492,000. Dynamic Technology Lab Private Ltd lifted its position in athenahealth by 72.7% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 6,440 shares of the health services provider’s stock worth $800,000 after buying an additional 2,711 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its position in athenahealth by 31.0% in the 3rd quarter. Macquarie Group Ltd. now owns 118,386 shares of the health services provider’s stock worth $14,722,000 after buying an additional 28,034 shares during the last quarter.

About athenahealth

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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