Price Action To Observe: athenahealth, Inc Can’t Burn Your Short Portfolio. Just Reaches 52 Week Low

Price Action To Observe: athenahealth, Inc Can't Burn Your Short Portfolio. Just Reaches 52 Week Low

The stock of athenahealth, Inc (NASDAQ:ATHN) hit a new 52-week low and has $88.91 target or 7.00% below today’s $95.60 share price. The 9 months bearish chart indicates high risk for the $3.69 billion company. The 1-year low was reported on Nov, 29 by Barchart.com. If the $88.91 price target is reached, the company will be worth $258.30 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 478,663 shares traded hands. athenahealth, Inc (NASDAQ:ATHN) has declined 29.60% since April 26, 2016 and is downtrending. It has underperformed by 34.86% the S&P500.

Analysts await athenahealth, Inc (NASDAQ:ATHN) to report earnings on February, 2. They expect $0.31 EPS, down 31.11% or $0.14 from last year’s $0.45 per share. ATHN’s profit will be $11.97M for 77.10 P/E if the $0.31 EPS becomes a reality. After $0.35 actual EPS reported by athenahealth, Inc for the previous quarter, Wall Street now forecasts -11.43% negative EPS growth.

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. Jefferies maintained the shares of ATHN in a report on Friday, October 14 with “Underperform” rating. On Monday, July 27 the stock rating was maintained by Topeka Capital Markets with “Buy”. RBC Capital Markets maintained athenahealth, Inc (NASDAQ:ATHN) rating on Monday, October 26. RBC Capital Markets has “Underperform” rating and $105 price target. Stifel Nicolaus reinitiated the shares of ATHN in a report on Wednesday, August 31 with “Hold” rating. The stock has “Mkt Perform” rating given by FBR Capital on Friday, July 22. The rating was maintained by Topeka Capital Markets with “Hold” on Monday, December 14. Topeka Capital Markets downgraded it to “Hold” rating and $164 target price in Monday, October 26 report. As per Wednesday, October 26, the company rating was downgraded by Morgan Stanley. The firm has “Hold” rating by Deutsche Bank given on Friday, July 22. Leerink Swann downgraded the shares of ATHN in a report on Monday, October 26 to “Mkt Perform” rating.

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 increased to 1 in Q2 2016. Its up 0.07, from 0.93 in 2016Q1. The ratio is positive, 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.
Seven Eight Capital Ltd Llc last reported 0.26% of its portfolio in the stock. 1St Glob has invested 0.03% of its portfolio in athenahealth, Inc (NASDAQ:ATHN). Da Davidson And Com, a Montana-based fund reported 2,027 shares. Ibm Retirement Fund accumulated 0.02% or 3,933 shares. Jfs Wealth Advsrs Limited Liability Corp holds 200 shares or 0.01% of its portfolio. Guggenheim Capital Lc holds 2,539 shares or 0% of its portfolio. Everpoint Asset Management Ltd Limited Liability Company accumulated 150,000 shares or 0.41% of the stock. Tudor Investment Et Al has 5,067 shares for 0.01% of their US portfolio. The Germany-based Deutsche Financial Bank Ag has invested 0.01% in athenahealth, Inc (NASDAQ:ATHN). Gagnon Ltd Liability Co reported 98,540 shares or 6.51% of all its holdings. State Of Wisconsin Invest Board, a Wisconsin-based fund reported 25,430 shares. Tortoise Invest Mgmt Limited Liability last reported 400 shares in the company. Tompkins Corp accumulated 0.01% or 307 shares. Sei accumulated 0.07% or 88,280 shares. Driehaus Limited Liability Company accumulated 0.02% or 3,246 shares.

Insider Transactions: Since June 1, 2016, the stock had 0 insider buys, and 18 sales for $5.94 million net activity. Another trade for 4,000 shares valued at $496,810 was made by Park Ed on Monday, August 15. Bush Jonathan sold $552,820 worth of athenahealth, Inc (NASDAQ:ATHN) on Friday, July 1. $104,000 worth of athenahealth, Inc (NASDAQ:ATHN) was sold by Hull Brandon H on Thursday, June 2. Haley Daniel P also sold $262,423 worth of athenahealth, Inc (NASDAQ:ATHN) shares. Abernethy Amy had sold 1,000 shares worth $122,290 on Thursday, September 1. $54,730 worth of athenahealth, Inc (NASDAQ:ATHN) was sold by O’Brien Timothy John. The insider Armbrester Bradford Kyle sold $330,850.

More important recent athenahealth, Inc (NASDAQ:ATHN) news were published by: Forbes.com which released: “Oversold Conditions For Athenahealth (ATHN)” on November 28, 2016, also Fool.com published article titled: “Athenahealth, Inc. Q3 Earnings Soar With Solid Customer Growth”, Fool.com published: “Q2 Provider Gains Make Athenahealth Inc. Optimistic About Rest of the Year” on July 22, 2016. More interesting news about athenahealth, Inc (NASDAQ:ATHN) was released by: Seekingalpha.com and their article: “Athenahealth: Have The Company’s Shares Cooled Down?” with publication date: September 08, 2016.

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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