Athenahealth 2Q Is the New Normal; Maintaining $110 FVE
Athenahealth kicked off its second-quarter fiscal 2017 with earnings in line with our expectations and we are maintaining our $110 fair value estimate and no-moat rating. Revenue increased 15% year over year and GAAP net income was $9.9 million, compared with a GAAP net loss of $1.9 million in 2016. This quarter marked a return to normalcy for the firm after two consecutive earnings misses the prior quarters. We reiterate that the 15% top-line growth is still well below the 30% annualized growth...Athenahealth partners with hospital and ambulatory clients to drive clinical and financial results. The company provides network-enabled medical record, revenue cycle, patient engagement, care coordination, and population health services, as well as Epocrates
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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