athenahealth, Inc. (NASDAQ: ATHN)
athenahealth, Inc. (ATHN), a cloud-based services and mobile applications for medical groups and health systems company yesterday reported their fiscal year 2016 financial results and provided guidance for 2017. Athenahealth projected 2017 revenues to be in a range of $1.29 and $1.33 billion which beat analyst expectations of $1.29 billion. Athenahealth projected 2017 adjusted operating income to be in between $170 and $190 million which beat analyst expectations of $154 million.
athenahealth, Inc. CFO’s Comments
“We are a growth company and we continue to see expansive market opportunities for our network-enabled services. As we look towards 2017, we will be focused on further evolving our platform and further extending our technology assets so we can go deeper with our core services and broader with our network services,” said Karl Stubelis, chief financial officer, athenahealth. “As has been our approach in the past, we will measure our success in 2017 by our corporate balanced scorecard which includes stability, performance, client satisfaction, and financial metrics that we believe best reflect how we are progressing against our long-term vision of building the healthcare internet. We are also a financially disciplined company and we look forward to presenting our financial plan for fiscal year 2017 at our Ninth Annual Investor Summit tomorrow.” Globe Newswire
ATHN Technical Analysis
ATHN opened trading yesterday at $96.46 which was up from the previous day’s trading close of $96.39. ATHN closed trading yesterday at $94.37 and spiked up after market to $113.00, equivalent to a 20% increase from the closing price. Taking a look at the daily chart we can see that the last time ATHN traded above these levels we have to go back to October 24th when it traded at highs of $113.98. Taking a closer look at the daily chart we can see that before the spike up ATHN had been in an overall downward trend dating back to October 10th when it traded at $129.96. ATHN has a float of 38.94 million shares and traded 1.56 times the normal daily trading volume on Wednesday. For trading purposes, I would like to see ATHN open trading on Thursday above $107.00 and if it does I would be looking to take a long position at the bell. My stop loss would be $1.00 from my entry position fearing anything more than that and the stock would start to fill in the gap up. Check out Ross over at Warrior Trading where he is applying his Day Trading Strategies to these types of stocks.
athenahealth, Inc., together with its subsidiaries, provides cloud-based services and mobile applications for medical groups and health systems. The company provides services through athenaNet, a cloud-based platform. Its services include athenaCollector, a cloud-based revenue cycle management and practice management service; athenaClinicals for electronic health record management; athenaCommunicator, a cloud-based patient engagement and communication service; athenaCoordinator for order transmission; and athenaCoordinator Enterprise for care coordination, patient access, and order transmission service. The company also provides athenaCommunicator Enterprise, a cloud-based population health management service to execute, track, and coordinate care across a providers network; and Epocrates service that include clinical information and decision support services in the areas of drug and disease information, medical calculator and tools, clinical guidelines, clinical messaging, market research, and formulary hosting. In addition, it offers client support, account performance monitoring, relationship management, and real-time performance monitoring services. The company serves clients in the health care industry that include pharmaceutical companies, managed care companies, market research firms, and others through its direct sales force and channel partners in the United States and internationally. The company was formerly known as athenahealth.com, Inc. and changed its name to athenahealth, Inc. in November 2000. athenahealth, Inc. was founded in 1997 and is headquartered in Watertown, Massachusetts. Yahoo Finance