Riverbridge Partners buys $123,479,218 stake in athenahealth Inc (ATHN)

athenahealth Inc (ATHN) : Riverbridge Partners scooped up 15,726 additional shares in athenahealth Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 1, 2016. The investment management firm now holds a total of 980,305 shares of athenahealth Inc which is valued at $123,479,218.athenahealth Inc makes up approximately 2.48% of Riverbridge Partners’s portfolio.

Other Hedge Funds, Including , California State Teachers Retirement System boosted its stake in ATHN in the latest quarter, The investment management firm added 409 additional shares and now holds a total of 82,349 shares of athenahealth Inc which is valued at $10,372,680. athenahealth Inc makes up approx 0.02% of California State Teachers Retirement System’s portfolio.Quadrant Capital Group reduced its stake in ATHN by selling 6 shares or 8.7% in the most recent quarter. The Hedge Fund company now holds 63 shares of ATHN which is valued at $8,051. athenahealth Inc makes up approx 0.01% of Quadrant Capital Group’s portfolio. March Altus Capital Management Lp sold out all of its stake in ATHN during the most recent quarter. The investment firm sold 4,900 shares of ATHN which is valued $629,062.Msi Financial Services Inc reduced its stake in ATHN by selling 167 shares or 26.42% in the most recent quarter. The Hedge Fund company now holds 465 shares of ATHN which is valued at $59,697.

athenahealth Inc opened for trading at $126.17 and hit $126.755 on the upside on Thursday, eventually ending the session at $126.11, with a gain of 0.12% or 0.15 points. The heightened volatility saw the trading volume jump to 1,55,269 shares. Company has a market cap of $4,962 M.

On the company’s financial health, athenahealth Inc reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.26. The company had revenue of $256.15 million for the quarter, compared to analysts expectations of $248.49 million. The company’s revenue was up 24.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Many Wall Street Analysts have commented on athenahealth Inc. Shares were Reiterated by FBR Capital on Jul 22, 2016 to “Mkt Perform” and Lowered the Price Target to $ 140 from a previous price target of $145 .Shares were Downgraded by Deutsche Bank on Jul 22, 2016 to ” Hold” and Lowered the Price Target to $ 147 from a previous price target of $165 .

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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