Short Interest Worth Watching: Is Buying Athenahealth Incorporated (NASDAQ:ATHN), Having Higher Short Interest a Winning Strategy?

November 24, 2016 - By Hazel Jackson   ·   0 Comments

Short Interest Worth Watching: Is Buying Athenahealth Incorporated (NASDAQ:ATHN), Having Higher Short Interest a Winning Strategy?

The stock of Athenahealth Incorporated (NASDAQ:ATHN) registered an increase of 0.32% in short interest. ATHN’s total short interest was 8.21 million shares in November as published by FINRA. Its up 0.32% from 8.18M shares, reported previously. With 959,700 shares average volume, it will take short sellers 9 days to cover their ATHN’s short positions. The short interest to Athenahealth Incorporated’s float is 24.02%. The stock increased 0.26% or $0.27 on November 23, hitting $102.97. About 589,038 shares traded hands. athenahealth, Inc (NASDAQ:ATHN) has declined 25.55% since April 22, 2016 and is downtrending. It has underperformed by 30.96% the S&P500.

athenahealth, Inc. is a provider of cloud services and mobile applications for medical groups and health systems. The company has a market cap of $4.10 billion. The Firm delivers cloud services for revenue cycle management and medical billing, electronic health records , patient engagement, care coordination, order transmission, population health management, and clinical decision support. It has a 218.64 P/E ratio. Through these services, the Company connects healthcare information and processes, and drives results for approximately 75,000 healthcare providers.

Insitutional Activity: The institutional sentiment increased to 1 in 2016 Q2. Its up 0.07, from 0.93 in 2016Q1. The ratio increased, as 26 funds sold all athenahealth, Inc shares owned while 79 reduced positions. 20 funds bought stakes while 78 increased positions. They now own 46.40 million shares or 1.43% less from 47.07 million shares in 2016Q1.
Cubist Systematic Strategies Limited Com last reported 90 shares in the company. Fairfield Bush Comm holds 0.4% of its portfolio in athenahealth, Inc (NASDAQ:ATHN) for 8,363 shares. Jackson Square Prns Limited Liability Corp has 569,367 shares for 0.33% of their US portfolio. Canada Pension Plan Inv Board reported 51,900 shares or 0.03% of all its holdings. Utah Retirement has 0.03% invested in the company for 7,200 shares. Metropolitan Life Ins Company, a New York-based fund reported 2,929 shares. Kcg has 2,758 shares for 0.01% of their US portfolio. Bell Comml Bank & accumulated 0.2% or 2,473 shares. Solaris Asset Mngmt Limited Liability Company has invested 0.04% of its portfolio in athenahealth, Inc (NASDAQ:ATHN). Moreover, Northeast Inv has 0.45% invested in athenahealth, Inc (NASDAQ:ATHN) for 32,693 shares. Checchi Cap Advisers Ltd Company holds 0% or 280 shares in its portfolio. Credit Suisse Ag last reported 27,167 shares in the company. Adirondack holds 425 shares or 0.04% of its portfolio. Moreover, Cap Research Global Invsts has 0.14% invested in athenahealth, Inc (NASDAQ:ATHN) for 2.97 million shares. Tradewinds Capital Mngmt Limited Liability Com reported 300 shares or 0.03% of all its holdings.

Insider Transactions: Since June 1, 2016, the stock had 0 insider purchases, and 21 insider sales for $6.73 million net activity. $262,423 worth of athenahealth, Inc (NASDAQ:ATHN) was sold by Haley Daniel P. The insider Bush Jonathan sold 4,000 shares worth $489,256. Park Ed had sold 1,500 shares worth $188,736 on Wednesday, June 1. 2,400 shares with value of $312,000 were sold by Hull Brandon H on Monday, October 10. Shares for $330,850 were sold by Armbrester Bradford Kyle on Monday, October 10. 928 shares were sold by Stubelis Karl, worth $114,478 on Saturday, September 3. $122,290 worth of athenahealth, Inc (NASDAQ:ATHN) was sold by Abernethy Amy.

athenahealth, Inc (NASDAQ:ATHN) Ratings Coverage

Out of 16 analysts covering athenaHealth (NASDAQ:ATHN), 5 rate it a “Buy”, 3 “Sell”, while 8 “Hold”. This means 31% are positive. athenaHealth has been the topic of 23 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The stock of athenahealth, Inc (NASDAQ:ATHN) earned “Buy” rating by Stifel Nicolaus on Monday, October 26. Barclays Capital maintained it with “Equal Weight” rating and $140 target price in Monday, October 26 report. Morgan Stanley downgraded athenahealth, Inc (NASDAQ:ATHN) on Wednesday, October 26 to “Equal-Weight” rating. The stock of athenahealth, Inc (NASDAQ:ATHN) has “Mkt Perform” rating given on Monday, October 26 by Leerink Swann. Deutsche Bank downgraded the shares of ATHN in a report on Friday, July 22 to “Hold” rating. Topeka Capital Markets downgraded athenahealth, Inc (NASDAQ:ATHN) rating on Monday, October 26. Topeka Capital Markets has “Hold” rating and $164 price target. The stock has “Neutral” rating given by UBS on Thursday, October 6. The firm earned “Underweight” rating on Tuesday, November 17 by Barclays Capital. The stock has “Hold” rating given by Topeka Capital Markets on Monday, December 14. The rating was reinitiated by Stifel Nicolaus with “Hold” on Wednesday, August 31.

ATHN Company Profile

athenahealth, Inc., incorporated on August 21, 1997, is a well-known provider of cloud services and mobile applications for medical groups and health systems. The Firm delivers cloud services for revenue cycle management and medical billing, electronic health records (EHR), patient engagement, care coordination, order transmission, population health management, and clinical decision support. Through these services, the Company connects healthcare information and processes, and drives results for approximately 75,000 healthcare providers. The Firm has developed various cloud services. The Company’s services include athenaCollector for revenue cycle and practice management; athenaClinicals for electronic health records; athenaCommunicator for patient engagement; athenaCoordinator for order transmission; athenaCoordinator Enterprise for patient access, care coordination, and order transmission; athenaCommunicator Enterprise for population health management, and Epocrates for clinical decision support.

More recent athenahealth, Inc (NASDAQ:ATHN) news were published by: Fool.com which released: “Athenahealth, Inc. Q3 Earnings Soar With Solid Customer Growth” on October 21, 2016. Also Globenewswire.com published the news titled: “athenahealth Named Among The Boston Globe’s “Top Places to Work” in 2016” on November 23, 2016. Benzinga.com‘s news article titled: “Blackline’s Long-Term Growth Prospects Are Above Average” with publication date: November 22, 2016 was also an interesting one.

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By Hazel Jackson


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