Athenahealth Reports Mixed 1Q; Bottom Line Improves, but Bookings Disappoint
Athenahealth reported a solid start to the year, with 12% revenue growth (before the impact of new accounting standards) and margin improvement in the first quarter. We are reiterating our no-moat rating and fair value estimate of $110 per share. The company’s restructuring and cost-cutting efforts are paying off, with operating margin improving from 0.4% to 8.1% (apart from the impact of new accounting standards). We find this development highly positive because we believe the company will need...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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