Gagnon Securities buys $10,213,274 stake in athenahealth Inc (ATHN)

athenahealth Inc (ATHN) : Gagnon Securities scooped up 1,777 additional shares in athenahealth Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 100,317 shares of athenahealth Inc which is valued at $10,213,274.athenahealth Inc makes up approximately 3.68% of Gagnon Securities’s portfolio.

Other Hedge Funds, Including , Bluemountain Capital Management sold out all of its stake in ATHN during the most recent quarter. The investment firm sold 1,635 shares of ATHN which is valued $166,459.Acrospire Investment Management boosted its stake in ATHN in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 500 shares of athenahealth Inc which is valued at $50,270. athenahealth Inc makes up approx 0.03% of Acrospire Investment Management’s portfolio.Baird Financial Group reduced its stake in ATHN by selling 19,839 shares or 64.62% in the most recent quarter. The Hedge Fund company now holds 10,862 shares of ATHN which is valued at $1,092,065. athenahealth Inc makes up approx 0.01% of Baird Financial Group’s portfolio.Ubs Asset Management Americas Inc boosted its stake in ATHN in the latest quarter, The investment management firm added 2,043 additional shares and now holds a total of 30,517 shares of athenahealth Inc which is valued at $3,036,747.Ibm Retirement Fund reduced its stake in ATHN by selling 248 shares or 6.31% in the most recent quarter. The Hedge Fund company now holds 3,685 shares of ATHN which is valued at $390,057. athenahealth Inc makes up approx 0.02% of Ibm Retirement Fund’s portfolio.

athenahealth Inc closed down -2.55 points or -2.42% at $102.86 with 6,65,712 shares getting traded on Monday. Post opening the session at $105.27, the shares hit an intraday low of $101.87 and an intraday high of $105.39 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, athenahealth Inc reported $0.60 EPS for the quarter, beating the analyst consensus estimate by $ 0.13 according to the earnings call on Oct 20, 2016. Analyst had a consensus of $0.47. The company had revenue of $276.67 million for the quarter, compared to analysts expectations of $280.17 million. The company’s revenue was up 17.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS.

Many Wall Street Analysts have commented on athenahealth Inc. athenahealth Inc was Downgraded by JP Morgan to ” Neutral” on Oct 28, 2016. athenahealth Inc was Downgraded by Morgan Stanley to ” Equal-Weight” on Oct 26, 2016. Company shares were Reiterated by Jefferies on Oct 14, 2016 to “Underperform”, Firm has raised the Price Target to $ 110 from a previous price target of $105 .

athenahealth Inc. is a provider of cloud-based services and mobile applications for medical groups and health systems. The Company delivers cloud-based services for revenue cycle management and medical billing electronic health records (EHR) patient engagement care coordination population health management as well as clinical intelligence and decision support. Through these services the Company connects health care information and processes and drives results for more than 62000 health care providers in medical practices and health systems nationwide. The Company’s service offerings include the following: athenaCollector for revenue cycle management and medical billing; athenaClinicals for EHR management; athenaCommunicator for patient engagement and communication; athenaCoordinator for care coordination population health and financial and quality management and Epocrates for clinical intelligence and decision support services.

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