Stock Analysis:Athenahealth Inc (NASDAQ:ATHN) Stock Target Increased
In analysts note published by Leerink Swann on Friday, 11 December, Athenahealth Inc (NASDAQ:ATHN) had its TP hiked to $175.00. The firm now has a solid Market Perform rating on shares.
From a total of 21 analysts covering athenaHealth (NASDAQ:ATHN) stock, 13 rate it a ”Buy”, 2 a “Sell”, and 10 a ”Hold”. This means that 52% of the ratings are positive. The highest target price is $209 while the lowest target price is $105. The mean of all analyst targets is $165.05 with a -1.42% below today’s ($160.15) stock price. athenaHealth was the topic of 12 analyst reports since July 27, 2015 according to the firm StockzIntelligence Inc. JP Morgan initiated shares on November 17 with “Overweight” rating. RBC Capital Markets maintained shares with “Underperform” rating and $105 target share price in a report from an October 26. Leerink Swann downgraded ATHN stock in a recent report from October 26 to “Mkt Perform” rating. Topeka Capital Markets downgraded the rating on October 26. Topeka Capital Markets has a “Hold” rating and a $164 price target on shares. Finally, Stifel Nicolaus maintained the stock with “Buy” rating in a report issued on an October 26.
Approximately 252,271 shares of stock traded hands. athenahealth, Inc (NASDAQ:ATHN) has risen 41.07% since May 8, 2015 and is uptrending. It has outperformed by 44.08% the S&P500.
The overall sentiment of institutions has increased to 1.01 in Q2 2015. Its up 0.10, from 0.91 in 2015Q2. The ratio is positive, as 24 institutions have sold all the shares of athenahealth, Inc that they owned while 73 funds have taken shares off the table. 29 funds have purchased shares for the first time while 69 added to their positions. These institutions now hold 59.06 million shares or 20.22% more than the 49.13 million shares they owned in 2015Q2.
The Fund Barton Investment Management currently is holding shares equating to 10.22% of its total portfolio in athenahealth, Inc representing a total of 210,971 shares. Another fund,Gagnon Advisors Llc, is holding a total of 80,025 shares equating to 8.68% of their holdings. Additionally, Gagnon Securities Llc has a 101,369 share stake in athenahealth, Inc which represents 6.61% of their total portfolio. The Fund, Criterion Capital Management Llc, based out of California, has also built up a stake in the stock, which represents a total of 5.9% of their total portfolio. Finally Avalon Global Asset Management Llc, a fund which is based in the state of California reported a total holdings of 56,000 shares.
Insider activity is a very important aspect to track on any stock. Going back to February 25, 2015, shareholders of athenahealth, Inc have witnessed 0 buys, and a total of 16 selling transactions equating to a net activity of approximately $7.79 million . Bush Jonathan sold 20,000 shares worth approximately $3.15M. Kahane Stephen N sold 5,000 shares worth approximately $752,500. Park Ed sold 1,500 shares worth approximately $201,345. Stubelis Karl sold 929 shares worth approximately $124,486. The company insider Matus Kristi Ann sold 415 shares worth $54,166.
athenahealth, Inc. is a provider of cloud services and mobile applications for medical groups and health systems. The company has a market cap of $6.36 billion. The Firm delivers cloud services for revenue cycle management and medical billing, electronic health records , patient engagement, care coordination, population health management, as well as clinical intelligence and decision support. It has 418.57 P/E ratio. Through these services, the Company connects health care information and processes and drives results for more than 62,000 health care providers in medical practices and health systems nationwide.
According to Zacks Investment Research, “ATHENAHEALTH INC is a leading provider of internet-based business services for physician practices. The Company’s service offerings are based on proprietary web-native practice management and electronic medical record software, a continuously updated payer knowledge-base and integrated back-office service operations.” Get a free copy of the Zacks research report on athenahealth, Inc (ATHN).