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Main » Elliott discloses 9.2 percent stake in Athenahealth, shares soar

Elliott discloses 9.2 percent stake in Athenahealth, shares soar

19 Mai 2017

The company's revenue for the quarter was up 11.4% compared to the same quarter a year ago. The company now has a consensus rating of "Hold" and a consensus target price of $129.32.

The current consensus rating on athenahealth (NASDAQ:ATHN) is Buy (Score: 2.52) with a consensus target price of $131.42 per share, a potential 1.04% upside. Equities research analysts anticipate that athenahealth, Inc will post $1.89 earnings per share for the current fiscal year. The legal version of this report can be viewed at https://baseballnewssource.com/markets/athenahealth-inc-athn-given-a-95-00-price-target-at-jefferies-group-llc-updated-updated/675044.html. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 256.04 and a beta of 1.77.

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According to the SEC filing, Elliott Associates described athenahealth stock as an attractive investment opportunity because it is now undervalued. Tudor Investment Corp ET AL now owns 7,604 shares of the health services provider's stock valued at $857,000 after buying an additional 3,501 shares during the period. BlackRock Fund Advisors now owns 390,624 shares of the health services provider's stock valued at $49,265,000 after buying an additional 8,635 shares during the period. 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.

The note said paths for the company include streamlining its investment, pushing stock returns over growth, and exploring the sale of the company to a private equity firm, a technology company, or a healthcare services company. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction, the chief executive officer now owns 319,807 shares of the company's stock, valued at approximately $38,376,840. The stock was sold at an average price of $109.48, for a total value of $32,844.00. The stock has a 50 day moving average price of $110.87 and a 200-day moving average price of $110.59. athenahealth, Inc has a 52-week low of $90.11 and a 52-week high of $142.40. Advisor Group Inc. now owns 982 shares of the health services provider's stock worth $124,000 after buying an additional 119 shares during the period. Bank of New York Mellon Corp raised its position in athenahealth by 5.5% in the third quarter. Intellectus Partners LLC acquired a new stake in shares of athenahealth during the fourth quarter valued at about $105,000. The company's cloud-based software offers four integrated offerings through athenaNet; athenaCollector for revenue cycle management; athenaClinicals for clinical cycle management; athenaCommunicator for patient cycle management; and athenaCoordinator for referral cycle management.

Elliott discloses 9.2 percent stake in Athenahealth, shares soar