Suntrust Banks Inc. Lowers Holdings in athenahealth, Inc. (ATHN)
Suntrust Banks Inc. cut its position in athenahealth, Inc. (NASDAQ:ATHN) by 9.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,112 shares of the health services provider’s stock after selling 1,000 shares during the quarter. Suntrust Banks Inc.’s holdings in athenahealth were worth $1,279,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Turner Investments LLC purchased a new position in shares of athenahealth during the 2nd quarter valued at $105,000. Bessemer Group Inc. grew its stake in shares of athenahealth by 13.7% during the 2nd quarter. Bessemer Group Inc. now owns 938 shares of the health services provider’s stock worth $132,000 after acquiring an additional 113 shares during the period. FNY Partners Fund LP grew its stake in shares of athenahealth by 1,900.0% during the 1st quarter. FNY Partners Fund LP now owns 1,000 shares of the health services provider’s stock worth $112,000 after acquiring an additional 950 shares during the period. Seven Bridges Advisors LLC grew its stake in shares of athenahealth by 5.4% during the 2nd quarter. Seven Bridges Advisors LLC now owns 1,303 shares of the health services provider’s stock worth $183,000 after acquiring an additional 67 shares during the period. Finally, BNP Paribas Arbitrage SA grew its stake in shares of athenahealth by 123.8% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 1,345 shares of the health services provider’s stock worth $189,000 after acquiring an additional 744 shares during the period.
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In other news, Director Brandon H. Hull sold 800 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $140.01, for a total transaction of $112,008.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jonathan Bush sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $143.31, for a total transaction of $573,240.00. Following the sale, the chief executive officer now owns 319,807 shares in the company, valued at $45,831,541.17. The disclosure for this sale can be found here. Insiders sold 16,505 shares of company stock worth $2,240,851 in the last 90 days. 3.20% of the stock is currently owned by company insiders.
Shares of athenahealth, Inc. (ATHN) opened at 123.51 on Wednesday. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 156.74 and a beta of 1.76. The stock has a 50 day moving average of $132.79 and a 200-day moving average of $129.75. athenahealth, Inc. has a one year low of $90.11 and a one year high of $158.66.
athenahealth (NASDAQ:ATHN) last posted its earnings results on Thursday, July 20th. The health services provider reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.12. athenahealth had a return on equity of 6.91% and a net margin of 2.80%. The firm had revenue of $301.10 million during the quarter, compared to the consensus estimate of $298.68 million. During the same period in the prior year, the company earned $0.34 EPS. The company’s quarterly revenue was up 15.0% compared to the same quarter last year. On average, equities analysts expect that athenahealth, Inc. will post $1.91 earnings per share for the current year.
ATHN has been the topic of a number of research reports. Piper Jaffray Companies restated a “buy” rating and issued a $152.00 price objective on shares of athenahealth in a research note on Friday, July 14th. BidaskClub downgraded shares of athenahealth from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Citigroup Inc. reiterated a “buy” rating and set a $186.00 target price (up previously from $169.00) on shares of athenahealth in a research report on Monday, July 24th. UBS AG reiterated a “positive” rating and set a $175.00 target price (up previously from $157.00) on shares of athenahealth in a research report on Monday, July 24th. Finally, First Analysis lowered shares of athenahealth from an “equal weight” rating to an “underweight” rating and boosted their price target for the company from $99.00 to $125.00 in a research report on Monday, July 24th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $149.91.
athenahealth, Inc provides network-based medical record, revenue cycle, patient engagement, care coordination and population health services. The Company also offers Epocrates and other point-of-care mobile applications. The Company delivers majority of its service offerings through a single instance of cloud-based software, athenaNet.
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