Clearbridge Investments LLC Increases Position in athenahealth, Inc. (ATHN)

Clearbridge Investments LLC raised its stake in shares of athenahealth, Inc. (NASDAQ:ATHN) by 61.8% during the first quarter, Holdings Channel reports. The institutional investor owned 908,505 shares of the health services provider’s stock after buying an additional 347,133 shares during the period. Clearbridge Investments LLC’s holdings in athenahealth were worth $102,379,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Comerica Bank raised its stake in athenahealth by 0.6% in the first quarter. Comerica Bank now owns 2,487 shares of the health services provider’s stock valued at $302,000 after buying an additional 14 shares in the last quarter. Fairfield Bush & CO. raised its stake in athenahealth by 0.7% in the first quarter. Fairfield Bush & CO. now owns 4,923 shares of the health services provider’s stock valued at $555,000 after buying an additional 35 shares in the last quarter. Bell Bank raised its stake in athenahealth by 2.6% in the first quarter. Bell Bank now owns 3,600 shares of the health services provider’s stock valued at $406,000 after buying an additional 90 shares in the last quarter. Baird Financial Group Inc. raised its stake in athenahealth by 0.9% in the first quarter. Baird Financial Group Inc. now owns 11,818 shares of the health services provider’s stock valued at $1,332,000 after buying an additional 105 shares in the last quarter. Finally, US Bancorp DE raised its stake in athenahealth by 0.6% in the first quarter. US Bancorp DE now owns 19,864 shares of the health services provider’s stock valued at $2,238,000 after buying an additional 123 shares in the last quarter.

athenahealth, Inc. (ATHN) traded down 0.10% during midday trading on Tuesday, hitting $145.11. The stock had a trading volume of 127,909 shares. The company has a market capitalization of $5.78 billion, a PE ratio of 285.65 and a beta of 1.81. The stock’s 50-day moving average is $127.14 and its 200-day moving average is $116.94. athenahealth, Inc. has a 1-year low of $90.11 and a 1-year high of $146.75.

athenahealth (NASDAQ:ATHN) last announced its quarterly earnings results on Thursday, April 27th. The health services provider reported $0.10 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by $0.01. athenahealth had a net margin of 1.84% and a return on equity of 5.93%. The business had revenue of $285.40 million during the quarter, compared to the consensus estimate of $296.49 million. During the same period in the previous year, the business posted $0.34 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. Equities research analysts forecast that athenahealth, Inc. will post $1.88 EPS for the current year.

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Several research firms recently issued reports on ATHN. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $142.00 price objective on shares of athenahealth in a research note on Wednesday, April 19th. Jefferies Group LLC reaffirmed a “hold” rating and set a $135.00 price target on shares of athenahealth in a research note on Monday. Barclays PLC set a $88.00 price target on athenahealth and gave the stock an “underweight” rating in a research note on Monday, May 1st. Leerink Swann set a $140.00 price target on athenahealth and gave the stock a “hold” rating in a research note on Friday, May 19th. Finally, Dougherty & Co lifted their price target on athenahealth from $123.00 to $148.00 and gave the stock a “buy” rating in a research note on Tuesday, May 23rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $138.74.

In other athenahealth news, SVP Jonathan D. Porter sold 300 shares of the firm’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $109.48, for a total value of $32,844.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jonathan Bush sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $120.00, for a total transaction of $960,000.00. Following the completion of the sale, the chief executive officer now directly owns 319,807 shares of the company’s stock, valued at approximately $38,376,840. The disclosure for this sale can be found here. In the last three months, insiders sold 20,583 shares of company stock valued at $2,612,204. 3.20% of the stock is owned by insiders.

About athenahealth

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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Institutional Ownership by Quarter for athenahealth (NASDAQ:ATHN)

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