The athenahealth Inc. (ATHN) Cut to “Equal Weight” at Morgan Stanley

The athenahealth Inc. (ATHN) Cut to “Equal Weight” at Morgan Stanley

Morgan Stanley downgraded shares of athenahealth Inc. (NASDAQ:ATHN) from an overweight rating to an equal weight rating in a report released on Wednesday morning. They currently have $117.00 price target on the stock, down from their previous price target of $153.00.

Several other equities research analysts have also issued reports on ATHN. Zacks Investment Research lowered shares of athenahealth from a strong-buy rating to a hold rating in a report on Tuesday, July 12th. Oppenheimer Holdings Inc. set a $170.00 price target on shares of athenahealth and gave the company a buy rating in a report on Thursday, October 20th. Canaccord Genuity reaffirmed a hold rating and issued a $127.00 target price on shares of athenahealth in a report on Sunday, October 23rd. FBR & Co lowered their target price on shares of athenahealth from $145.00 to $140.00 and set a market perform rating on the stock in a report on Friday, July 22nd. Finally, Jefferies Group upped their target price on shares of athenahealth from $105.00 to $110.00 and gave the stock an underperform rating in a report on Friday, October 14th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus target price of $140.26.

athenahealth (NASDAQ:ATHN) opened at 103.01 on Wednesday. The firm has a market cap of $4.06 billion, a PE ratio of 219.64 and a beta of 1.28. The stock has a 50 day moving average of $120.93 and a 200 day moving average of $127.89. athenahealth has a 52 week low of $100.01 and a 52 week high of $170.42.

athenahealth (NASDAQ:ATHN) last announced its quarterly earnings results on Thursday, October 20th. The company reported $0.60 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.13. The firm had revenue of $276.70 million for the quarter. athenahealth had a net margin of 1.80% and a return on equity of 6.60%. The company’s quarterly revenue was up 17.2% compared to the same quarter last year. During the same period last year, the firm earned $0.36 EPS. Analysts anticipate that athenahealth will post $1.74 EPS for the current year.

In related news, COO Ed Park sold 4,000 shares of the stock in a transaction that occurred on Monday, August 15th. The stock was sold at an average price of $124.20, for a total transaction of $496,800.00. Following the completion of the sale, the chief operating officer now directly owns 20,719 shares of the company’s stock, valued at approximately $2,573,299.80. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Bradford Kyle Armbrester sold 2,545 shares of the stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $130.00, for a total value of $330,850.00. The disclosure for this sale can be found here. 3.04% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the company. First Quadrant L P CA acquired a new stake in athenahealth during the third quarter worth about $114,000. Advisor Group Inc. acquired a new stake in athenahealth during the second quarter worth about $118,000. FineMark National Bank & Trust boosted its stake in athenahealth by 4.5% in the second quarter. FineMark National Bank & Trust now owns 944 shares of the company’s stock worth $130,000 after buying an additional 41 shares during the last quarter. KBC Group NV acquired a new stake in athenahealth during the second quarter worth about $135,000. Finally, Societe Generale acquired a new stake in athenahealth during the second quarter worth about $176,000.

athenahealth Company Profile

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