Analysts Expect athenahealth, Inc (ATHN) Will Post Quarterly Sales of $333.96 Million

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Wall Street brokerages forecast that athenahealth, Inc (NASDAQ:ATHN) will announce sales of $333.96 million for the current fiscal quarter, Zacks reports. Twenty Two analysts have provided estimates for athenahealth’s earnings. The highest sales estimate is $348.01 million and the lowest is $323.34 million. athenahealth reported sales of $301.10 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 10.9%. The business is expected to issue its next quarterly earnings report on Thursday, July 19th.

On average, analysts expect that athenahealth will report full year sales of $1.35 billion for the current fiscal year, with estimates ranging from $1.31 billion to $1.37 billion. For the next year, analysts expect that the company will report sales of $1.48 billion per share, with estimates ranging from $1.43 billion to $1.53 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow athenahealth.

athenahealth (NASDAQ:ATHN) last posted 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. The business had revenue of $329.40 million during the quarter, compared to analysts’ expectations of $318.13 million. athenahealth had a return on equity of 13.01% and a net margin of 6.77%. The firm’s revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.32 earnings per share.

ATHN has been the subject of a number of recent analyst reports. Bank of America initiated coverage on athenahealth in a research report on Tuesday, February 27th. They set a “neutral” rating and a $147.00 price target for the company. Oppenheimer raised their target price on athenahealth from $158.00 to $179.00 and gave the company an “outperform” rating in a research note on Tuesday, June 19th. JPMorgan Chase & Co. initiated coverage on athenahealth in a research note on Tuesday, April 24th. They issued a “neutral” rating and a $159.00 target price for the company. ValuEngine lowered athenahealth from a “hold” rating to a “sell” rating in a research note on Friday, April 27th. Finally, Piper Jaffray Companies raised their target price on athenahealth from $155.00 to $179.00 and gave the company an “overweight” rating in a research note on Wednesday, June 6th. Eighteen equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $154.81.

athenahealth traded up $0.72, reaching $160.65, during midday trading on Thursday, according to MarketBeat.com. 234,236 shares of the company’s stock traded hands, compared to its average volume of 361,030. The firm has a market capitalization of $6.46 billion, a price-to-earnings ratio of 102.32, a PEG ratio of 2.99 and a beta of 1.26. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.71 and a quick ratio of 2.71. athenahealth has a 52 week low of $111.61 and a 52 week high of $163.94.

In other athenahealth news, insider Daniel P. Haley sold 1,107 shares of the company’s stock in a transaction dated Wednesday, May 16th. The shares were sold at an average price of $149.40, for a total value of $165,385.80. Following the completion of the transaction, the insider now owns 12,383 shares in the company, valued at $1,850,020.20. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Jonathan Bush sold 25,000 shares of the company’s stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $155.00, for a total transaction of $3,875,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 41,979 shares of company stock valued at $6,244,631 over the last 90 days. Corporate insiders own 2.90% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. purchased a new stake in athenahealth in the 4th quarter worth $124,000. Meadow Creek Investment Management LLC acquired a new stake in shares of athenahealth during the fourth quarter worth $132,000. We Are One Seven LLC raised its holdings in shares of athenahealth by 239.2% during the first quarter. We Are One Seven LLC now owns 1,116 shares of the health services provider’s stock worth $160,000 after purchasing an additional 787 shares during the period. Flinton Capital Management LLC raised its holdings in shares of athenahealth by 62.2% during the first quarter. Flinton Capital Management LLC now owns 1,168 shares of the health services provider’s stock worth $167,000 after purchasing an additional 448 shares during the period. Finally, Riverhead Capital Management LLC grew its position in shares of athenahealth by 63.0% during the first quarter. Riverhead Capital Management LLC now owns 1,320 shares of the health services provider’s stock worth $189,000 after acquiring an additional 510 shares during the last quarter.

About athenahealth

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.

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