Nikko Asset Management Americas Inc. Increases Stake in athenahealth, Inc. (ATHN)

Nikko Asset Management Americas Inc. boosted its stake in athenahealth, Inc. (NASDAQ:ATHN) by 1,557.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,900 shares of the health services provider’s stock after buying an additional 123,000 shares during the period. athenahealth makes up about 1.1% of Nikko Asset Management Americas Inc.’s holdings, making the stock its 27th largest position. Nikko Asset Management Americas Inc. owned about 0.33% of athenahealth worth $18,398,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morgan Stanley increased its position in shares of athenahealth by 9.7% in the first quarter. Morgan Stanley now owns 4,514,305 shares of the health services provider’s stock valued at $508,717,000 after buying an additional 397,837 shares in the last quarter. Wellington Management Group LLP increased its position in shares of athenahealth by 1.0% in the first quarter. Wellington Management Group LLP now owns 3,464,730 shares of the health services provider’s stock valued at $390,441,000 after buying an additional 35,241 shares in the last quarter. Vanguard Group Inc. increased its position in shares of athenahealth by 4.5% in the first quarter. Vanguard Group Inc. now owns 3,047,282 shares of the health services provider’s stock valued at $343,399,000 after buying an additional 130,569 shares in the last quarter. BlackRock Inc. increased its position in shares of athenahealth by 30,642.6% in the first quarter. BlackRock Inc. now owns 1,599,847 shares of the health services provider’s stock valued at $180,286,000 after buying an additional 1,594,643 shares in the last quarter. Finally, Riverbridge Partners LLC increased its position in shares of athenahealth by 2.0% in the first quarter. Riverbridge Partners LLC now owns 1,057,142 shares of the health services provider’s stock valued at $119,129,000 after buying an additional 20,971 shares in the last quarter.

athenahealth, Inc. (NASDAQ ATHN) opened at 140.92 on Friday. athenahealth, Inc. has a one year low of $90.11 and a one year high of $158.66. The company’s 50 day moving average price is $142.47 and its 200-day moving average price is $126.04. The stock has a market capitalization of $5.63 billion, a PE ratio of 178.83 and a beta of 1.77.

athenahealth (NASDAQ:ATHN) last announced its quarterly 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 company had revenue of $301.10 million during the quarter, compared to analyst estimates of $298.68 million. During the same period in the prior year, the company earned $0.34 earnings per share. The firm’s revenue was up 15.0% on a year-over-year basis. Analysts expect that athenahealth, Inc. will post $1.91 earnings per share for the current year.

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ATHN has been the subject of several analyst reports. William Blair restated a “market perform” rating on shares of athenahealth in a research note on Friday, July 21st. Cantor Fitzgerald restated a “buy” rating and issued a $118.00 target price (down previously from $135.00) on shares of athenahealth in a research note on Thursday, April 27th. Argus initiated coverage on athenahealth in a research note on Friday, July 7th. They issued a “hold” rating for the company. Citigroup Inc. restated a “buy” rating and issued a $163.00 target price (up previously from $128.00) on shares of athenahealth in a research note on Monday, June 5th. Finally, J P Morgan Chase & Co set a $136.00 target price on athenahealth and gave the stock a “hold” rating in a research note on Wednesday, July 19th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $148.64.

In related news, CFO Karl Stubelis sold 3,952 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $138.98, for a total transaction of $549,248.96. Following the completion of the transaction, the chief financial officer now directly owns 21,810 shares of the company’s stock, valued at $3,031,153.80. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jonathan D. Porter sold 422 shares of the stock in a transaction that occurred on Friday, July 21st. The shares were sold at an average price of $154.00, for a total value of $64,988.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,874 shares of company stock valued at $2,102,697. 3.20% of the stock is owned by corporate 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.

Institutional Ownership by Quarter for athenahealth (NASDAQ:ATHN)

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