Athenahealth Misses Q1 Earnings and Lowers Full-Year Guidance; Reducing Fair Value Estimate
No-moat Athenahealth’s first-quarter earnings were muddled by a reduction in guidance for fiscal 2017 that was below our expectations, and we plan on modestly reducing our $134 fair value estimate. The company demonstrated 11% top-line growth year over year, however, Athena missed on the bottom line with a GAAP net loss of $1.4 million and lowered its full-year revenue guidance from $1.29 billion-$1.33 billion to $1.21 billion-1.25 billion. Management cited lower anticipated claims and collectio...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
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