Published: Fri, June 08, 2018
Health Care | By Cedric Leonard

Athenahealth CEO Bush steps down, clearing the way for a sale

Athenahealth CEO Bush steps down, clearing the way for a sale

The ratio is positive, as 114 hedge funds opened new or increased positions, while 88 cut down and sold equity positions in Athenahealth Inc. 53 funds acquired holdings and 61 increased holdings. Qs Investors Lc reported 0% stake. Pnc Ser Grp stated it has 0% of its portfolio in athenahealth, Inc. Bell Savings Bank holds 0.17% in athenahealth, Inc. Kornitzer Cap Mgmt Incorporated Ks has invested 0.63% in athenahealth, Inc. Jackson Square Ptnrs Lc owns 0.37% invested in athenahealth, Inc. (NASDAQ:ATHN) or 221,746 shares. ARK Investment Management LLC now owns 379,439 shares of the health services provider's stock valued at $50,481,000 after acquiring an additional 135,383 shares in the last quarter. BlackRock Inc. now owns 1,676,879 shares of the health services provider's stock worth $239,845,000 after acquiring an additional 15,181 shares in the last quarter. Past complaints about Bush's conduct toward female employees have also surfaced in the past month, including a 2009 complaint, first reported by The New York Post, by a woman who reportedly left the company after she said he subjected her to a "sexually hostile" work environment, according to Bloomberg. Amer Assets Investment Limited Liability holds 0.05% or 2,000 shs in its capital. The company was upgraded on Tuesday, March 20 by Raymond James. (NASDAQ:ATHN) on Tuesday, January 2. Additionally, SVP, Chief Product Officer Porter Jonathan D. sold 150 shares of this stock in a transaction that took place on May 29th, 2018. The firm offers business systems solutions in the areas of financial, human capital, asset and materials, and administrative management; develops, integrates, and operates command and control solutions; and develops and integrates solutions that deliver multi-level unified communications from the enterprise directly to and from the tactical edge. Amalgamated Retail Bank holds 0.03% or 8,434 shares in its portfolio. Gideon Advsr Incorporated reported 2,272 shares. Also, insider Daniel P. Haley sold 1,107 shares of the stock in a transaction that occurred on Wednesday, May 16th. IMMELT JEFFREY R bought 3,600 shares worth $507,744.

Elliott Management in May proposed an offer of $160 per share in cash for the company, valuing it at about $6.9 billion.

In a note shared with investors this morning, Citigroup kept their Hold rating on Athenahealth (NASDAQ:ATHN) shares.

Total analysts of 18 have positions in Athenahealth (NASDAQ:ATHN) as follows: 6 rated it a "Buy", 0 with "Sell" and 12 with "Hold". Cantor Fitzgerald reissued an "outperform" rating and issued a $135.00 price target on shares of athenahealth in a research note on Tuesday, January 31st. $150.18's average target is -4.34% below currents $157 stock price. The firm has "Hold" rating given on Thursday, February 15 by RBC Capital Markets. The firm earned "Hold" rating on Tuesday, May 8 by Leerink Swann. As per Thursday, May 3, the company rating was maintained by Stifel Nicolaus. JP Morgan maintained it with "Neutral" rating and $159 target in Tuesday, April 24 report. Deutsche Bank initiated the stock with "Hold" rating in Friday, December 8 report. (NASDAQ:ATHN) has "Hold" rating given on Monday, May 7 by Cantor Fitzgerald. Deutsche National Bank Ag invested 0.01% in athenahealth, Inc. (NASDAQ:ATHN) on Friday, February 2. Seaport Global maintained CACI International Inc (NYSE:CACI) rating on Thursday, February 1. The company was maintained on Wednesday, February 14 by Cantor Fitzgerald. On Thursday, February 1 the stock rating was maintained by Jefferies with "Hold".

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(ATHN) surged 4.17%, amounting to a gain of $6.3 per share, to finish the regular trading session at $157.44 on Wednesday 06/06/2018.

Prior to athenahealth, Levine most recently served as the executive vice president and CFO of JDA Software Group, Inc., a privately-held supply chain provider of software and SaaS solutions, where he led the company's finance and accounting, legal, workplace, purchasing and information technology activities. CACI International Inc (NYSE:CACI) has risen 28.94% since June 6, 2017 and is uptrending. It has outperformed by 2.32% the S&P500.

ATHN has been the topic of several analyst reports. During the same period in the previous year, the company earned $0.32 EPS. If ATHN's EPS is $0.62 the profit will be $25.05M for 63.56 P/E. Analysts predicts -37.37 % negative EPS growth this quarter. The company generated $1.2 billion in revenue last year, up 13 percent from the previous year.

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