Gagnon Advisors Lowers stake in athenahealth Inc (ATHN)

athenahealth Inc (ATHN) : Gagnon Advisors reduced its stake in athenahealth Inc by 31.13% during the most recent quarter end. The investment management company now holds a total of 55,116 shares of athenahealth Inc which is valued at $7,067,525 after selling 24,909 shares in athenahealth Inc , the firm said in a disclosure report filed with the SEC on May 3, 2016.athenahealth Inc makes up approximately 6.44% of Gagnon Advisors’s portfolio.

Other Hedge Funds, Including , Bluecrest Capital Management Ltd added ATHN to its portfolio by purchasing 5,900 company shares during the most recent quarter which is valued at $756,557. athenahealth Inc makes up approx 0.07% of Bluecrest Capital Management Ltd’s portfolio. Capital Fund Management S.a. added ATHN to its portfolio by purchasing 6,488 company shares during the most recent quarter which is valued at $831,956. athenahealth Inc makes up approx 0.01% of Capital Fund Management S.a.’s portfolio. Harel Insurance Investments Financial Services Ltd. added ATHN to its portfolio by purchasing 39 company shares during the most recent quarter which is valued at $5,001.Riverbridge Partners reduced its stake in ATHN by selling 122 shares or 0.01% in the most recent quarter. The Hedge Fund company now holds 964,579 shares of ATHN which is valued at $128,578,381. athenahealth Inc makes up approx 2.69% of Riverbridge Partners’s portfolio.

athenahealth Inc opened for trading at $130.66 and hit $132.22 on the upside on Tuesday, eventually ending the session at $131.62, with a gain of 0.57% or 0.75 points. The heightened volatility saw the trading volume jump to 2,17,511 shares. Company has a market cap of $5,168 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 Upgraded by Topeka Capital Markets on Feb 8, 2016 to ” Buy” and Lowered the Price Target to $ 160 from a previous price target of $169 .

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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