Stock Mover of the Day: Time to Buy athenahealth, Inc After Reaching 1 Year Low?

Stock Mover of the Day: Time to Buy athenahealth, Inc After Reaching 1 Year Low?

The stock of athenahealth, Inc (NASDAQ:ATHN) hit a new 52-week low and has $91.69 target or 9.00% below today’s $100.76 share price. The 5 months bearish chart indicates high risk for the $3.91B company. The 1-year low was reported on Nov, 9 by Barchart.com. If the $91.69 price target is reached, the company will be worth $351.90 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 292,178 shares traded hands. athenahealth, Inc (NASDAQ:ATHN) has declined 26.06% since April 7, 2016 and is downtrending. It has underperformed by 30.84% the S&P500.

athenahealth, Inc (NASDAQ:ATHN) Ratings Coverage

Out of 16 analysts covering athenaHealth (NASDAQ:ATHN), 5 rate it a “Buy”, 3 “Sell”, while 8 “Hold”. This means 31% are positive. athenaHealth has been the topic of 23 analyst reports since July 27, 2015 according to StockzIntelligence Inc. Topeka Capital Markets maintained the shares of ATHN in a report on Monday, December 14 with “Hold” rating. The stock of athenahealth, Inc (NASDAQ:ATHN) earned “Underperform” rating by Jefferies on Friday, October 14. The rating was downgraded by Barclays Capital to “Underweight” on Tuesday, November 17. The firm has “Buy” rating given on Monday, October 26 by Stifel Nicolaus. FBR Capital maintained it with “Mkt Perform” rating and $140 target price in Friday, July 22 report. The firm has “Outperform” rating by Raymond James given on Friday, October 23. The stock has “Buy” rating given by Topeka Capital Markets on Monday, July 27. On Monday, February 8 the stock rating was upgraded by Topeka Capital Markets to “Buy”. The company was upgraded on Monday, October 10 by Evercore. The stock of athenahealth, Inc (NASDAQ:ATHN) has “Mkt Perform” rating given on Monday, October 26 by Leerink Swann.

According to Zacks Investment Research, “ATHENAHEALTH INC is a leading provider of internet-based business services for physician practices. The Company’s service offerings are based on proprietary web-native practice management and electronic medical record software, a continuously updated payer knowledge-base and integrated back-office service operations.”

Insitutional Activity: The institutional sentiment decreased to 0.93 in 2016 Q2. Its down 0.16, from 1.09 in 2016Q1. The ratio worsened, as 26 funds sold all athenahealth, Inc shares owned while 79 reduced positions. 20 funds bought stakes while 78 increased positions. They now own 46.40 million shares or 1.43% less from 47.07 million shares in 2016Q1.
Canada Pension Plan Investment Board has 51,900 shares for 0.03% of their US portfolio. The Maryland-based Rock Springs Capital Mgmt Limited Partnership has invested 0.47% in athenahealth, Inc (NASDAQ:ATHN). Moreover, Blackrock Institutional Company Na has 0.02% invested in athenahealth, Inc (NASDAQ:ATHN) for 964,877 shares. Geode Mngmt Lc accumulated 258,557 shares or 0.02% of the stock. Round Table Svcs Limited Liability Company holds 0.25% of its portfolio in athenahealth, Inc (NASDAQ:ATHN) for 3,168 shares. Pnc last reported 0% of its portfolio in the stock. Aperio Gp Ltd Liability Corporation reported 3,406 shares or 0% of all its holdings. Moreover, Products Limited Liability Corporation has 0.57% invested in athenahealth, Inc (NASDAQ:ATHN) for 52,214 shares. Loomis Sayles Lp owns 35,557 shares or 0.01% of their US portfolio. Artisan Prns Ltd Partnership has invested 0.51% of its portfolio in athenahealth, Inc (NASDAQ:ATHN). Fincl Bank Of America Corporation De owns 423,832 shares or 0.01% of their US portfolio. Walleye Trading last reported 6,290 shares in the company. Omers Administration holds 0.01% of its portfolio in athenahealth, Inc (NASDAQ:ATHN) for 3,700 shares. Creative Planning has invested 0% of its portfolio in athenahealth, Inc (NASDAQ:ATHN). Evercore Wealth Management Limited Liability holds 7,000 shares or 0.04% of its portfolio.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 21 insider sales for $6.73 million net activity. On Thursday, June 2 the insider Hull Brandon H sold $104,000. Bush Jonathan had sold 4,000 shares worth $552,820. Park Ed sold 4,000 shares worth $413,555. Stubelis Karl also sold $114,478 worth of athenahealth, Inc (NASDAQ:ATHN) shares. $370,329 worth of athenahealth, Inc (NASDAQ:ATHN) was sold by KANE JOHN A on Wednesday, July 27. Haley Daniel P also sold $262,423 worth of athenahealth, Inc (NASDAQ:ATHN) shares. 2,545 shares with value of $330,850 were sold by Armbrester Bradford Kyle on Monday, October 10.

More news for athenahealth, Inc (NASDAQ:ATHN) were recently published by: Fool.com, which released: “Athenahealth, Inc. Q3 Earnings Soar With Solid Customer Growth” on October 21, 2016. Bizjournals.com‘s article titled: “With lowered sales goals, ​athenahealth plots new path to growth” and published on October 25, 2016 is yet another important article.

ATHN Company Profile

athenahealth, Inc., incorporated on August 21, 1997, is a well-known provider of cloud services and mobile applications for medical groups and health systems. The Firm delivers cloud services for revenue cycle management and medical billing, electronic health records (EHR), patient engagement, care coordination, order transmission, population health management, and clinical decision support. Through these services, the Company connects healthcare information and processes, and drives results for approximately 75,000 healthcare providers. The Firm has developed various cloud services. The Company’s services include athenaCollector for revenue cycle and practice management; athenaClinicals for electronic health records; athenaCommunicator for patient engagement; athenaCoordinator for order transmission; athenaCoordinator Enterprise for patient access, care coordination, and order transmission; athenaCommunicator Enterprise for population health management, and Epocrates for clinical decision support.

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