Avalon Global Asset Management buys $6.8 Million stake in athenahealth Inc (ATHN)

athenahealth Inc (ATHN) : Avalon Global Asset Management scooped up 3,000 additional shares in athenahealth Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 52,500 shares of athenahealth Inc which is valued at $6.8 Million.athenahealth Inc makes up approximately 7.18% of Avalon Global Asset Management’s portfolio.

Other Hedge Funds, Including , First Republic Investment Management added ATHN to its portfolio by purchasing 8,234 company shares during the most recent quarter which is valued at $2.1 Million. athenahealth Inc makes up approx 0.02% of First Republic Investment Management’s portfolio. Trexquant Investment Lp sold out all of its stake in ATHN during the most recent quarter. The investment firm sold 7,409 shares of ATHN which is valued $959,762.Columbus Circle Investors boosted its stake in ATHN in the latest quarter, The investment management firm added 101,632 additional shares and now holds a total of 142,692 shares of athenahealth Inc which is valued at $18.3 Million. athenahealth Inc makes up approx 0.17% of Columbus Circle Investors’s portfolio.Aperio Group boosted its stake in ATHN in the latest quarter, The investment management firm added 357 additional shares and now holds a total of 3,429 shares of athenahealth Inc which is valued at $457,086.

athenahealth Inc closed down -0.4 points or -0.32% at $125.52 with 2,96,481 shares getting traded on Wednesday. Post opening the session at $126.28, the shares hit an intraday low of $124.03 and an intraday high of $126.65 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

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.

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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