IndexIQ Advisors LLC bought a new stake in athenahealth, Inc (NASDAQ:ATHN) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 284,359 shares of the health services provider’s stock, valued at approximately $37,515,000. athenahealth comprises 1.0% of IndexIQ Advisors LLC’s holdings, making the stock its 19th biggest position.
A number of other institutional investors have also added to or reduced their stakes in the business. Morgan Stanley lifted its holdings in athenahealth by 1.6% in the third quarter. Morgan Stanley now owns 4,640,015 shares of the health services provider’s stock valued at $619,906,000 after acquiring an additional 74,170 shares during the period. Vanguard Group Inc. increased its position in shares of athenahealth by 2.4% in the third quarter. Vanguard Group Inc. now owns 3,525,211 shares of the health services provider’s stock valued at $470,968,000 after buying an additional 83,795 shares in the last quarter. Vanguard Group Inc increased its position in shares of athenahealth by 2.4% in the third quarter. Vanguard Group Inc now owns 3,525,211 shares of the health services provider’s stock valued at $470,968,000 after buying an additional 83,795 shares in the last quarter. Credit Suisse AG increased its position in shares of athenahealth by 14.7% in the third quarter. Credit Suisse AG now owns 1,620,067 shares of the health services provider’s stock valued at $216,440,000 after buying an additional 207,713 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of athenahealth by 2.1% in the third quarter. Clearbridge Investments LLC now owns 964,092 shares of the health services provider’s stock valued at $128,803,000 after buying an additional 19,575 shares in the last quarter. 93.85% of the stock is owned by institutional investors.
A number of brokerages have recently weighed in on ATHN. BidaskClub cut athenahealth from a “sell” rating to a “strong sell” rating in a research report on Thursday. ValuEngine upgraded athenahealth from a “hold” rating to a “buy” rating in a research report on Tuesday, December 25th. Wells Fargo & Co cut athenahealth from an “outperform” rating to a “market perform” rating and set a $135.00 price target for the company. in a research report on Tuesday, November 27th. Evercore ISI cut athenahealth to an “outperform” rating in a research report on Monday, November 12th. Finally, Robert W. Baird cut athenahealth from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $160.00 to $135.00 in a research report on Monday, November 12th. One equities research analyst has rated the stock with a sell rating, twenty have assigned a hold rating and three have assigned a buy rating to the company. athenahealth currently has a consensus rating of “Hold” and a consensus target price of $147.71.
athenahealth stock traded down $0.05 during midday trading on Thursday, reaching $134.85. 2,958 shares of the company were exchanged, compared to its average volume of 558,912. The stock has a market cap of $5.47 billion, a PE ratio of 85.90, a P/E/G ratio of 2.41 and a beta of 0.75. athenahealth, Inc has a 1 year low of $116.77 and a 1 year high of $163.94. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.22.
athenahealth (NASDAQ:ATHN) last posted its quarterly earnings data on Friday, November 9th. The health services provider reported $0.81 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.10. The firm had revenue of $331.40 million during the quarter, compared to analysts’ expectations of $336.98 million. athenahealth had a return on equity of 15.35% and a net margin of 9.57%. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 EPS. On average, equities analysts predict that athenahealth, Inc will post 3.06 EPS for the current year.
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.
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