athenahealth (ATHN) Downgraded by BidaskClub to Sell

BidaskClub lowered shares of athenahealth (NASDAQ:ATHN) from a hold rating to a sell rating in a report issued on Tuesday.

ATHN has been the subject of a number of other research reports. Cantor Fitzgerald reissued a hold rating and issued a $120.00 price target on shares of athenahealth in a report on Friday, October 27th. Deutsche Bank started coverage on athenahealth in a report on Friday, December 8th. They issued a hold rating and a $145.00 price target for the company. KeyCorp reduced their price target on athenahealth from $170.00 to $140.00 and set an overweight rating for the company in a report on Friday, October 20th. Leerink Swann reduced their price target on athenahealth from $155.00 to $125.00 and set a market perform rating for the company in a report on Monday, October 23rd. Finally, TheStreet downgraded athenahealth from a b- rating to a c+ rating in a report on Wednesday, October 11th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and nine have assigned a buy rating to the company. athenahealth has a consensus rating of Hold and a consensus target price of $143.96.

Shares of athenahealth (NASDAQ ATHN) traded down $1.26 on Tuesday, reaching $128.21. The company had a trading volume of 644,700 shares, compared to its average volume of 393,160. The stock has a market capitalization of $5,170.00, a P/E ratio of 166.51, a P/E/G ratio of 3.03 and a beta of 1.58. athenahealth has a 1 year low of $95.01 and a 1 year high of $158.66. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.67 and a quick ratio of 1.67.

athenahealth (NASDAQ:ATHN) last issued its quarterly earnings results on Thursday, October 19th. The health services provider reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.06. The firm had revenue of $304.60 million during the quarter, compared to the consensus estimate of $310.52 million. athenahealth had a return on equity of 6.78% and a net margin of 2.65%. athenahealth’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. sell-side analysts anticipate that athenahealth will post 1.22 earnings per share for the current year.

In other news, Director Amy Abernethy sold 500 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $134.18, for a total transaction of $67,090.00. Following the sale, the director now directly owns 4,045 shares in the company, valued at approximately $542,758.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jonathan Bush sold 30,000 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was sold at an average price of $134.80, for a total value of $4,044,000.00. Following the sale, the chief executive officer now owns 320,807 shares in the company, valued at $43,244,783.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,700 shares of company stock worth $9,375,172. 3.20% of the stock is currently owned by company insiders.

Several institutional investors have recently made changes to their positions in the company. FMR LLC raised its position in shares of athenahealth by 0.8% during the 2nd quarter. FMR LLC now owns 5,975,119 shares of the health services provider’s stock worth $839,803,000 after purchasing an additional 47,341 shares during the period. Janus Henderson Group PLC acquired a new stake in athenahealth in the 2nd quarter valued at approximately $713,856,000. Vanguard Group Inc. increased its position in athenahealth by 1.8% in the 2nd quarter. Vanguard Group Inc. now owns 3,100,643 shares of the health services provider’s stock valued at $435,795,000 after acquiring an additional 53,361 shares during the period. Capital Research Global Investors increased its position in athenahealth by 15.5% in the 2nd quarter. Capital Research Global Investors now owns 2,041,714 shares of the health services provider’s stock valued at $286,963,000 after acquiring an additional 273,660 shares during the period. Finally, BlackRock Inc. increased its position in athenahealth by 2.0% in the 2nd quarter. BlackRock Inc. now owns 1,631,993 shares of the health services provider’s stock valued at $229,377,000 after acquiring an additional 32,146 shares during the period.

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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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