athenahealth (ATHN) Releases Earnings Results, Beats Estimates By $0.10 EPS

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athenahealth (NASDAQ:ATHN) posted its earnings results on Friday. The health services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.10, Morningstar.com reports. athenahealth had a net margin of 8.71% and a return on equity of 14.71%. The firm had revenue of $331.40 million during the quarter, compared to analyst estimates of $336.98 million. During the same period last year, the firm posted $0.56 earnings per share. athenahealth’s revenue for the quarter was up 8.8% compared to the same quarter last year. athenahealth updated its FY 2018 guidance to EPS.

Shares of NASDAQ:ATHN traded down $4.53 on Friday, hitting $120.35. 849,908 shares of the company’s stock were exchanged, compared to its average volume of 557,273. athenahealth has a 12 month low of $116.77 and a 12 month high of $163.94. The company has a market cap of $5.12 billion, a price-to-earnings ratio of 76.66, a price-to-earnings-growth ratio of 2.23 and a beta of 0.80. The company has a current ratio of 2.62, a quick ratio of 2.62 and a debt-to-equity ratio of 0.23.

In other news, insider Daniel P. Haley sold 2,204 shares of athenahealth stock in a transaction on Monday, October 1st. The stock was sold at an average price of $127.23, for a total transaction of $280,414.92. Following the completion of the sale, the insider now directly owns 10,555 shares in the company, valued at $1,342,912.65. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders have sold 2,654 shares of company stock valued at $340,770. Corporate insiders own 2.90% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. Alpine Associates Management Inc. purchased a new position in shares of athenahealth during the third quarter valued at $10,534,000. Canada Pension Plan Investment Board increased its stake in shares of athenahealth by 144.0% during the third quarter. Canada Pension Plan Investment Board now owns 194,700 shares of the health services provider’s stock valued at $26,012,000 after buying an additional 114,900 shares during the period. Trexquant Investment LP purchased a new position in shares of athenahealth during the third quarter valued at $2,740,000. DekaBank Deutsche Girozentrale increased its stake in shares of athenahealth by 9.1% during the third quarter. DekaBank Deutsche Girozentrale now owns 8,237 shares of the health services provider’s stock valued at $1,262,000 after buying an additional 687 shares during the period. Finally, Atlas Capital Advisors LLC purchased a new position in shares of athenahealth during the third quarter valued at $596,000.

ATHN has been the subject of a number of analyst reports. BidaskClub downgraded athenahealth from a “hold” rating to a “sell” rating in a research report on Wednesday, July 25th. Cowen restated a “hold” rating and issued a $150.00 price target on shares of athenahealth in a research report on Wednesday, August 1st. Canaccord Genuity raised their price target on athenahealth from $125.00 to $160.00 and gave the stock a “hold” rating in a research report on Tuesday, July 31st. Stifel Nicolaus restated a “hold” rating and issued a $140.00 price target (up from $134.00) on shares of athenahealth in a research report on Tuesday, July 31st. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $145.00 price target on shares of athenahealth in a research report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $153.79.

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athenahealth Company 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.

Featured Article: Price to Earnings Ratio (PE), For Valuing Stocks

Earnings History for athenahealth (NASDAQ:ATHN)

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