Shares of athenahealth, Inc (NASDAQ:ATHN) were down 19.3% during mid-day trading on Friday following a weaker than expected earnings announcement. The company traded as low as $96.12 and last traded at $98.01, with a volume of 6,782,622 shares trading hands. The stock had previously closed at $121.45.
The health services provider reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.11 by $0.01. The company had revenue of $285.40 million during the quarter, compared to analyst estimates of $296.49 million. athenahealth had a net margin of 1.94% and a return on equity of 6.41%. The company’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 EPS.
Several equities research analysts have recently commented on the stock. Oppenheimer Holdings Inc. set a $142.00 price target on shares of athenahealth and gave the stock a “buy” rating in a research report on Saturday, February 4th. Jefferies Group LLC set a $95.00 price target on shares of athenahealth and gave the stock a “sell” rating in a research report on Sunday, January 15th. Barclays PLC set a $88.00 price objective on shares of athenahealth and gave the stock an “underweight” rating in a research note on Monday, May 1st. Leerink Swann set a $110.00 price objective on shares of athenahealth and gave the stock a “hold” rating in a research note on Tuesday, February 7th. Finally, Berenberg Bank assumed coverage on shares of athenahealth in a research note on Tuesday, February 7th. They set a “buy” rating and a $143.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. athenahealth presently has a consensus rating of “Hold” and a consensus target price of $129.32.
In other news, CEO Jonathan Bush sold 8,000 shares of the business’s stock in a transaction dated Tuesday, April 25th. The shares were sold at an average price of $120.00, for a total value of $960,000.00. Following the completion of the sale, the chief executive officer now owns 319,807 shares of the company’s stock, valued at $38,376,840. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 3.04% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Stevens Capital Management LP boosted its stake in shares of athenahealth by 509.0% in the first quarter. Stevens Capital Management LP now owns 40,595 shares of the health services provider’s stock worth $4,575,000 after buying an additional 33,929 shares during the last quarter. Fairfield Bush & CO. boosted its stake in shares of athenahealth by 0.7% in the first quarter. Fairfield Bush & CO. now owns 4,923 shares of the health services provider’s stock worth $555,000 after buying an additional 35 shares during the last quarter. Arxis Securities LLC purchased a new stake in athenahealth during the first quarter valued at $304,000. Parametric Portfolio Associates LLC boosted its stake in athenahealth by 46.6% in the first quarter. Parametric Portfolio Associates LLC now owns 28,211 shares of the health services provider’s stock valued at $3,179,000 after buying an additional 8,974 shares in the last quarter. Finally, Bell Bank boosted its stake in athenahealth by 2.6% in the first quarter. Bell Bank now owns 3,600 shares of the health services provider’s stock valued at $406,000 after buying an additional 90 shares in the last quarter.
The stock has a market capitalization of $4.24 billion, a price-to-earnings ratio of 209.39 and a beta of 1.77. The firm has a 50 day moving average of $111.46 and a 200-day moving average of $110.80.
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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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