athenahealth, Inc. (ATHN) Earns “Buy” Rating from KeyCorp

KeyCorp reiterated their buy rating on shares of athenahealth, Inc. (NASDAQ:ATHN) in a report released on Sunday. They currently have a $170.00 price target on the health services provider’s stock.

Other equities research analysts have also issued reports about the stock. TheStreet raised shares of athenahealth from a c rating to a b- rating in a report on Thursday, July 20th. Citigroup Inc. reissued a buy rating and issued a $169.00 target price (up from $163.00) on shares of athenahealth in a report on Monday, July 10th. Dougherty & Co increased their target price on shares of athenahealth from $123.00 to $148.00 and gave the stock a buy rating in a report on Tuesday, May 23rd. UBS AG reissued a buy rating and issued a $152.00 target price (up from $123.00) on shares of athenahealth in a report on Wednesday, May 31st. Finally, BidaskClub raised shares of athenahealth from a hold rating to a buy rating in a report on Saturday, June 24th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $149.91.

athenahealth (NASDAQ ATHN) opened at 124.38 on Friday. 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 $138.24 and its 200 day moving average is $129.15. The stock has a market cap of $4.97 billion, a PE ratio of 157.84 and a beta of 1.79.

athenahealth (NASDAQ:ATHN) last issued its quarterly earnings data on Thursday, July 20th. The health services provider reported $0.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.39 by $0.12. athenahealth had a net margin of 2.80% and a return on equity of 6.91%. The firm had revenue of $301.10 million for the quarter, compared to analysts’ expectations of $298.68 million. During the same quarter in the prior year, the business earned $0.34 EPS. The business’s quarterly revenue was up 15.0% on a year-over-year basis. On average, analysts expect that athenahealth will post $1.91 earnings per share for the current fiscal year.

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In related news, CEO Jonathan Bush sold 4,000 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $140.52, for a total value of $562,080.00. Following the completion of the transaction, the chief executive officer now directly owns 319,807 shares of the company’s stock, valued at $44,939,279.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Jonathan D. Porter sold 422 shares of the firm’s stock in a transaction on Friday, July 21st. The shares were sold at an average price of $154.00, for a total transaction of $64,988.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,722 shares of company stock valued at $2,221,721. 3.20% of the stock is currently owned by insiders.

Several hedge funds have recently bought and sold shares of ATHN. Janus Henderson Group PLC purchased a new position in shares of athenahealth in the second quarter valued at $713,856,000. BlackRock Inc. grew its holdings in shares of athenahealth by 30,642.6% in the first quarter. BlackRock Inc. now owns 1,599,847 shares of the health services provider’s stock valued at $180,286,000 after purchasing an additional 1,594,643 shares in the last quarter. Morgan Stanley grew its holdings in shares of athenahealth by 9.7% in the first quarter. Morgan Stanley now owns 4,514,305 shares of the health services provider’s stock valued at $508,717,000 after purchasing an additional 397,837 shares in the last quarter. Elliott Management Corp purchased a new position in shares of athenahealth in the second quarter valued at $52,706,000. Finally, Clearbridge Investments LLC grew its holdings in shares of athenahealth by 61.8% in the first quarter. Clearbridge Investments LLC now owns 908,505 shares of the health services provider’s stock valued at $102,379,000 after purchasing an additional 347,133 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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