Athenahealth CEO Jonathan Bush steps down as board considers a sale

Athenahealth CEO Jonathan Bush steps down as board considers a sale

3,413 were accumulated by Twin Tree Limited Partnership. Sumitomo Mitsui Trust Holdings Inc. now owns 561,940 shares of the health services provider's stock worth $80,374,000 after acquiring an additional 16,240 shares in the last quarter. Comerica Bancshares has 1,646 shares. Lpl Ltd Liability Corp has invested 0% of its portfolio in athenahealth, Inc. (NASDAQ:ATHN). Art Advisors Lc has 22,200 shares for 0.13% of their portfolio. Commonwealth Equity Services Inc now owns 4,769 shares of the health services provider's stock valued at $601,000 after buying an additional 1,629 shares during the last quarter. (NASDAQ:ATHN) has "Overweight" rating given by PiperJaffray. Hull Brandon H also sold $107,896 worth of athenahealth, Inc. (NASDAQ:ATHN). Peak6 Invs L P reported 0% in athenahealth, Inc. (NASDAQ:ATHN) for 1,463 shares. Federated Invsts Pa invested in 67,580 shares or 0.03% of the stock. Quantitative Mgmt Lc reported 14,400 shares or 0.04% of all its holdings. Sandy Spring Natl Bank holds 250 shares.

Since January 2, 2018, it had 2 buys, and 23 insider sales for $12.40 million activity. $19,239 worth of athenahealth, Inc. IMMELT JEFFREY R bought 3,600 shares worth $507,744. Insiders have sold a total of 41,979 shares of company stock valued at $6,244,631 in the last quarter. (NASDAQ:ATHN) rating. Deutsche Bank has "Hold" rating and $170 target. Citigroup's target price would indicate a potential upside of 5.86% from the stock's previous close. ValuEngine cut shares of athenahealth from a "hold" rating to a "sell" rating in a research report on Friday, February 2nd. The average target $154.28 is -2.13% below the last ($157.635) price. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and eight have assigned a buy rating to the company. On Tuesday, May 8 the rating was maintained by Leerink Swann with "Hold". JP Morgan maintained it with "Neutral" rating and $159 target in Tuesday, April 24 report. (NASDAQ:ATHN) earned "Buy" rating by Piper Jaffray on Friday, February 2.

Cantor Fitzgerald analyst Steven Halper said a sale could fetch a higher valuation following the company's announcement. (NASDAQ:ATHN) shs. On Thursday, March 1 Armbrester Bradford Kyle sold $309,995 worth of athenahealth, Inc. On Thursday, February 1 the stock rating was maintained by Jefferies with "Hold". (NASDAQ:ATHN) has "Outperform" rating given on Tuesday, May 8 by Evercore. On Friday, December 8 Deutsche Bank initiated athenahealth, Inc. (NASDAQ:ATHN) on Tuesday, January 2. (NASDAQ:ATHN). Boston Private Wealth Ltd Liability Com has invested 0.01% in athenahealth, Inc. (NASDAQ:ATHN) rating on Wednesday, February 7.

Athenahealth went public in September 2007, with shares surging 97 percent on their first day of trading. (NASDAQ:ATHN) in an exchange that happened on June 1st, 2018. It has outperformed by 2.32% the S&P500. During the same period last year, the business posted $0.32 EPS. sell-side analysts forecast that athenahealth will post 2.92 earnings per share for the current fiscal year. (NASDAQ:ATHN). Adirondack Tru, New York-based fund reported 350 shs. The earnings per share diference is $0.34 or 121.43 % up from last years number. If $0.62 is reported, ATHN's profit will reach $25.05M for 63.56 P/E. Analysts predicts -37.37 % negative EPS growth this quarter.

In its offer letter to the company's board, Elliott argued that Athenahealth's stock has been underperforming and criticized the company for seemingly "reverting back to long-established patterns of challenged execution" and being "unwilling to explore strategic alternatives for maximizing value". The company has a market cap of $6.11 billion, a PE ratio of 100.28, a P/E/G ratio of 2.81 and a beta of 1.26. The firm also provides athenahealth Population Health, a cloud population health service; and Epocrates services that include clinical information and decision support services in the areas of drug and disease information, medical calculator and tools, clinical guidelines, clinical messaging, and market research.

Athenahealth has also been battling with Elliott Management Corp., a hedge fund that has been pushing for significant change at the company created to make it more valuable. Businesswire.com's news article titled: "CACI Awarded $407 Million Task Order to Bolster Cyber Defense at Department of Homeland Security Agencies" with publication date: June 05, 2018 was also an interesting one.

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