Investors Sell athenahealth (ATHN) on Strength After Insider Selling

Traders sold shares of athenahealth, Inc. (NASDAQ:ATHN) on strength during trading hours on Monday after an insider sold shares in the company. $12.56 million flowed into the stock on the tick-up and $45.85 million flowed out of the stock on the tick-down, for a money net flow of $33.29 million out of the stock. Of all equities tracked, athenahealth had the 18th highest net out-flow for the day. athenahealth traded up $1.85 for the day and closed at $134.51Specifically, Director Brandon H. Hull sold 800 shares of athenahealth stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $132.97, for a total value of $106,376.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jonathan D. Porter sold 300 shares of athenahealth stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $130.38, for a total value of $39,114.00. The disclosure for this sale can be found here. Insiders sold 9,283 shares of company stock worth $1,175,908 in the last quarter. 3.20% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on ATHN shares. Robert W. Baird dropped their price target on athenahealth from $170.00 to $155.00 and set an “outperform” rating on the stock in a research note on Sunday, October 22nd. TheStreet lowered athenahealth from a “b-” rating to a “c+” rating in a research note on Wednesday, October 11th. First Analysis upgraded athenahealth from an “underweight” rating to an “equal weight” rating and boosted their price target for the stock from $125.00 to $127.00 in a research note on Monday, October 23rd. Leerink Swann set a $155.00 price target on athenahealth and gave the stock a “hold” rating in a research note on Thursday, October 19th. Finally, Jefferies Group dropped their price target on athenahealth from $135.00 to $120.00 and set a “hold” rating on the stock in a research note on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $143.22.

The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.67. The company has a market capitalization of $5,308.75, a price-to-earnings ratio of 112.42, a P/E/G ratio of 4.98 and a beta of 1.57.

athenahealth (NASDAQ:ATHN) last released its earnings results on Thursday, October 19th. The health services provider reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $310.52 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue was up 10.1% compared to the same quarter last year. analysts anticipate that athenahealth, Inc. will post 1.2 EPS for the current year.

Several institutional investors have recently added to or reduced their stakes in the stock. Pura Vida Investments LLC lifted its holdings in shares of athenahealth by 39.1% during the third quarter. Pura Vida Investments LLC now owns 59,800 shares of the health services provider’s stock worth $7,437,000 after purchasing an additional 16,800 shares during the period. California Public Employees Retirement System lifted its holdings in shares of athenahealth by 1.6% during the third quarter. California Public Employees Retirement System now owns 75,000 shares of the health services provider’s stock worth $9,327,000 after purchasing an additional 1,200 shares during the period. Perceptive Advisors LLC acquired a new stake in shares of athenahealth during the third quarter worth about $8,705,000. Oppenheimer Asset Management Inc. lifted its holdings in shares of athenahealth by 2.4% during the third quarter. Oppenheimer Asset Management Inc. now owns 31,974 shares of the health services provider’s stock worth $3,977,000 after purchasing an additional 737 shares during the period. Finally, Jackson Square Partners LLC lifted its holdings in shares of athenahealth by 55.4% during the third quarter. Jackson Square Partners LLC now owns 525,738 shares of the health services provider’s stock worth $65,380,000 after purchasing an additional 187,491 shares during the period.

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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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