In trading on Friday, technology stocks run up 2.54%, and anthenahealth, Inc (NASDAQ:ATHN) contributed to it, as shares jumped up 20.10% to $153.84.
Athenahealth, Inc. provides 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, patient engagement, electronic health records, health management, care coordination, population as well as decision support and clinical intelligence. Athenahealth connects health care information and drives results for more than 62,000 health care providers in medical practices and health systems nationwide.
Yesterday athenahealth announced third quarter fiscal year 2015 result. Total revenue increase 24% to $236.1 million compared to last year. Net income increase to $5.8 million compared to last year net loss of $1.6 million, and earning per diluted share increase to $0.15 compared to last year $0.04.
Jonathan Bush, chairman and chief executive officer of athenahealth, said, “Our unique results-oriented model and continuously expanding technology-enabled services are the foundation for our credibility and continued growth in health care. Our allegiance to drive both clinical and financial outcomes for our clients is fundamentally what differentiates us from traditional software vendors... While we are still in the early days of bringing the full power of the internet to health care, we are gaining nice momentum as we innovate to improve the way patients are managed and advance connectedness across our network and the care continuum at large. This quarter again reflects progress being made. There is no precedent set for what we are doing to advance health care.”
19 Analyst have given the stock price target of $147.74 in the short term. Standard deviation of reading, measuring of the stock is expected to swing away from the average estimate $ 27.04. The lower price estimates are fixed $80 while the higher price estimated at $ 180.
Athenahealth has received a hold rating for the short term, according to the latest rankings of 3 from Zacks Investment Research. These stocks can manage an average rating of 2.02 from 21 analysts. According to the latest data, eleven market experts have marked it as a strong buy, and seven analysts have rated the company at hold. One analysts has given a sell rating on the shares of the company, and one analysts rated it as strong sell.