Redwood Investments LLC Invests $788,000 in athenahealth, Inc (ATHN)

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Redwood Investments LLC acquired a new stake in athenahealth, Inc (NASDAQ:ATHN) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 5,509 shares of the health services provider’s stock, valued at approximately $788,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of athenahealth by 0.9% in the 1st quarter. BlackRock Inc. now owns 1,676,879 shares of the health services provider’s stock valued at $239,845,000 after purchasing an additional 15,181 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of athenahealth by 3.0% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 561,940 shares of the health services provider’s stock valued at $80,374,000 after purchasing an additional 16,240 shares in the last quarter. Allianz Asset Management GmbH raised its holdings in shares of athenahealth by 67.0% in the 4th quarter. Allianz Asset Management GmbH now owns 555,766 shares of the health services provider’s stock valued at $73,939,000 after purchasing an additional 223,006 shares in the last quarter. Jackson Square Partners LLC raised its holdings in shares of athenahealth by 1.1% in the 4th quarter. Jackson Square Partners LLC now owns 531,549 shares of the health services provider’s stock valued at $70,717,000 after purchasing an additional 5,811 shares in the last quarter. Finally, ArrowMark Colorado Holdings LLC raised its holdings in shares of athenahealth by 30.1% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 511,863 shares of the health services provider’s stock valued at $68,098,000 after purchasing an additional 118,411 shares in the last quarter.

ATHN stock opened at $159.93 on Friday. athenahealth, Inc has a one year low of $111.61 and a one year high of $163.94. The firm has a market capitalization of $6.54 billion, a PE ratio of 101.87, a PEG ratio of 3.03 and a beta of 1.26. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.25.

athenahealth (NASDAQ:ATHN) last released its earnings results on Thursday, April 26th. The health services provider reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.53. athenahealth had a net margin of 6.77% and a return on equity of 13.01%. The company had revenue of $329.40 million during the quarter, compared to analysts’ expectations of $318.13 million. During the same quarter last year, the business earned $0.32 EPS. The business’s revenue was up 15.4% on a year-over-year basis. research analysts expect that athenahealth, Inc will post 2.9 EPS for the current year.

In related news, CEO Jonathan Bush sold 5,000 shares of the firm’s stock in a transaction dated Friday, June 1st. The shares were sold at an average price of $150.32, for a total value of $751,600.00. Following the completion of the sale, the chief executive officer now owns 315,106 shares in the company, valued at $47,366,733.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan D. Porter sold 422 shares of the firm’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $153.30, for a total transaction of $64,692.60. The disclosure for this sale can be found here. Insiders sold a total of 41,979 shares of company stock valued at $6,244,631 in the last 90 days. Company insiders own 2.90% of the company’s stock.

A number of research analysts recently commented on the stock. ValuEngine downgraded shares of athenahealth from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. Citigroup dropped their target price on shares of athenahealth from $148.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, April 30th. Leerink Swann set a $150.00 target price on shares of athenahealth and gave the company a “hold” rating in a research report on Tuesday, May 8th. Evercore ISI raised shares of athenahealth from an “in-line” rating to an “outperform” rating and set a $140.00 target price on the stock in a research report on Tuesday, May 8th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and issued a $160.00 target price on shares of athenahealth in a research report on Thursday, May 17th. Eighteen research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $154.81.

athenahealth Profile

athenahealth, Inc, together with its subsidiaries, provides network-based medical record, revenue cycle, patient engagement, care coordination, and population health services for medical groups and health systems. It offers athenaCollector, a network-enabled billing and practice management solution; athenaClinicals, an electronic health record for managing patient's clinical documentation; athenaCommunicator, an engagement and communication solution that provides an automated communication service between patients and provider practices for interactions outside the exam room; and athenaCoordinator for order transmission and care coordination services.

Institutional Ownership by Quarter for athenahealth (NASDAQ:ATHN)

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