Investors Buy athenahealth (ATHN) on Weakness
Traders bought shares of athenahealth, Inc (NASDAQ:ATHN) on weakness during trading hours on Tuesday. $23.66 million flowed into the stock on the tick-up and $7.47 million flowed out of the stock on the tick-down, for a money net flow of $16.19 million into the stock. Of all equities tracked, athenahealth had the 33rd highest net in-flow for the day. athenahealth traded down ($2.17) for the day and closed at $130.40
Several research analysts recently issued reports on ATHN shares. KeyCorp reaffirmed a “buy” rating and set a $152.00 target price on shares of athenahealth in a research report on Friday, January 12th. Wells Fargo & Co cut their target price on athenahealth from $190.00 to $155.00 and set an “outperform” rating on the stock in a research report on Monday, October 23rd. ValuEngine cut athenahealth from a “hold” rating to a “sell” rating in a research report on Friday, February 2nd. Oppenheimer reaffirmed a “buy” rating and set a $184.00 target price on shares of athenahealth in a research report on Friday, October 20th. Finally, BidaskClub cut athenahealth from a “hold” rating to a “sell” rating in a research report on Tuesday, January 16th. Three analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and seven have issued a buy rating to the company. athenahealth presently has an average rating of “Hold” and an average target price of $145.05.
The stock has a market capitalization of $5,220.00, a price-to-earnings ratio of 100.31, a P/E/G ratio of 2.48 and a beta of 1.35. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 0.32.
In other athenahealth news, CEO Jonathan Bush sold 25,000 shares of the business’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $145.00, for a total value of $3,625,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amy Abernethy sold 500 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $134.18, for a total value of $67,090.00. Following the completion of the sale, the director now owns 4,045 shares in the company, valued at $542,758.10. The disclosure for this sale can be found here. Insiders have sold 98,703 shares of company stock worth $13,487,150 over the last quarter. 3.20% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the business. Advisor Group Inc. raised its stake in shares of athenahealth by 2.8% in the second quarter. Advisor Group Inc. now owns 1,744 shares of the health services provider’s stock valued at $244,000 after buying an additional 47 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of athenahealth by 7.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,179 shares of the health services provider’s stock valued at $166,000 after buying an additional 84 shares during the period. Alliancebernstein L.P. raised its stake in shares of athenahealth by 1.8% in the fourth quarter. Alliancebernstein L.P. now owns 22,790 shares of the health services provider’s stock valued at $3,032,000 after buying an additional 400 shares during the period. Amalgamated Bank raised its stake in shares of athenahealth by 5.7% in the fourth quarter. Amalgamated Bank now owns 7,892 shares of the health services provider’s stock valued at $1,050,000 after buying an additional 427 shares during the period. Finally, Stifel Financial Corp raised its stake in shares of athenahealth by 7.1% in the third quarter. Stifel Financial Corp now owns 8,828 shares of the health services provider’s stock valued at $1,094,000 after buying an additional 582 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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