Athenahealth, Inc (ATHN) Stock Price Down 19.3% Following Weak Earnings

Jonathan Bush co-founder Chief Executive Officer and President of Athenahealth

Athenahealth has been building its health IT market share through acquisitions for years, such as its deal to buy RazorInsights in 2015.

Today, athenahealth (NASDAQ:ATHN) stock received an upgrade by Jefferies Group LLC from Hold with a price target of $135.00.

The difference of 52 week low value as well as 52 week high value and the current price of the stock suggests the next move of the shares. The day's total volume of 3096152 this morning is in contrast from the three-month daily average of 552.72K. Equities research analysts forecast that athenahealth will post $1.89 EPS for the current year. If the market is performing well and the stock is over-valued, ATHN might be a good investment at this point but if the market is dropping down, you might not consider buying the stock.

Investment firm Elliott Associates has bought 9.2 percent of athenahealth stock, according to an SEC filing submitted Tuesday, and speculation has already started about what that might mean for the health IT company's future.

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Currently, the analyst consensus on Athenahealth is Moderate Buy and the average price target is $122.50, representing a -5.8% downside. The firm's 50 day moving average is $110.87 and its 200-day moving average is $110.59. The firm has a market capitalization of $4.99 billion, a price-to-earnings ratio of 246.81 and a beta of 1.77.

ILLEGAL ACTIVITY NOTICE: This report was originally published by BBNS and is the sole property of of BBNS. GSA Capital Partners LLP acquired a new position in shares of athenahealth during the fourth quarter valued at $307,000. Stifel Nicolaus decreased their price objective on athenahealth from $125.00 to $116.00 and set a "hold" rating for the company in a report on Monday, February 6th.

In other athenahealth news, CEO Jonathan Bush sold 8,000 shares of athenahealth stock in a transaction that occurred on Tuesday, April 25th. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. BlackRock Fund Advisors raised its position in athenahealth by 2.3% in the third quarter. Barclays PLC set a $88.00 price target on athenahealth and gave the company an "underweight" rating in a report on Monday, May 1st. If you are reading this report on another domain, it was illegally stolen and republished in violation of global copyright & trademark laws. Oppenheimer Holdings Inc. restated an "outperform" rating and set a $142.00 target price on shares of athenahealth in a research report on Wednesday, April 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company's stock. Insiders own 3.04% of the company's stock. Also, SVP Jonathan D. Porter sold 300 shares of the stock in a transaction that occurred on Monday, May 15th. Following the completion of the sale, the chief executive officer now owns 319,807 shares in the company, valued at approximately $38,376,840. If the share price is now hovering near the 52 week low and the value is achieved in the current past then it can suggest that the price of the shares is likely to go up.

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