Athenahealth (ATHN) Stock Soars on Earnings
Shares of Athenahealth Inc. (ATHN) closed up +34.85 or +25.06 percent to $173.93 per share on Friday, after the company announced better than expected fourth quarter earnings. The company also announced that its customer base of physicians had increased +28 percent in the quarter. Athenahealth reported net income had risen to $13.1 million or $0.34 per share, versus $5.9 million or $0.16 per share in the same period one year ago.
After the exclusion of one-time charges, the company earned $0.57 per share on revenue of $171.6 million; the analyst consensus for the companyâ s fourth quarter was for net income of $0.44 per share on $168.4 million in revenue.
Watertown, Massachusetts based Athenahealth was started in 1997 by two San Diego physicians to provide physicians services such as online practice management, medical billing and electronic medical records. The companyâ s main products consist of practice management software, athenaClinicals; for physician billing, athenaCollector and athenaCommunicator, for improving communications between the physician and patients. Athenahealth is one of the largest providers of this type of software and continues to gain popularity in the medical community. The company had its IPO in September of 2007 with an initial offering price of $18 per share. Jonathan Bush, Athenahealth's Chairman and Chief Executive Officer said in a press release, â
Published on Feb 10, 2014
By Jay Hawk