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GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 8/10

vs
industry
vs
history
Cash to Debt 0.49
ATHN's Cash to Debt is ranked higher than
51% of the 2118 Companies
in the Global Health Information Services industry.

( Industry Median: 4.93 vs. ATHN: 0.49 )
ATHN' s 10-Year Cash to Debt Range
Min: 0.14   Max: No Debt
Current: 0.49

Equity to Asset 0.49
ATHN's Equity to Asset is ranked higher than
60% of the 2048 Companies
in the Global Health Information Services industry.

( Industry Median: 0.60 vs. ATHN: 0.49 )
ATHN' s 10-Year Equity to Asset Range
Min: -1.77   Max: 0.74
Current: 0.49

-1.77
0.74
Interest Coverage 1.50
ATHN's Interest Coverage is ranked lower than
62% of the 1326 Companies
in the Global Health Information Services industry.

( Industry Median: 1176.93 vs. ATHN: 1.50 )
ATHN' s 10-Year Interest Coverage Range
Min: 1.22   Max: 9999.99
Current: 1.5

1.22
9999.99
F-Score: 8
Z-Score: 7.14
M-Score: -3.16
WACC vs ROIC
19.17%
0.90%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 7/10

vs
industry
vs
history
Operating margin (%) 0.74
ATHN's Operating margin (%) is ranked higher than
59% of the 2100 Companies
in the Global Health Information Services industry.

( Industry Median: 5.37 vs. ATHN: 0.74 )
ATHN' s 10-Year Operating margin (%) Range
Min: -19.83   Max: 10.1
Current: 0.74

-19.83
10.1
Net-margin (%) 0.18
ATHN's Net-margin (%) is ranked higher than
59% of the 2100 Companies
in the Global Health Information Services industry.

( Industry Median: 3.67 vs. ATHN: 0.18 )
ATHN' s 10-Year Net-margin (%) Range
Min: -79.76   Max: 23.19
Current: 0.18

-79.76
23.19
ROE (%) 0.32
ATHN's ROE (%) is ranked higher than
59% of the 2033 Companies
in the Global Health Information Services industry.

( Industry Median: 6.20 vs. ATHN: 0.32 )
ATHN' s 10-Year ROE (%) Range
Min: -62.29   Max: 35.01
Current: 0.32

-62.29
35.01
ROA (%) 0.15
ATHN's ROA (%) is ranked higher than
60% of the 2126 Companies
in the Global Health Information Services industry.

( Industry Median: 3.37 vs. ATHN: 0.15 )
ATHN' s 10-Year ROA (%) Range
Min: -59.42   Max: 23.13
Current: 0.15

-59.42
23.13
ROC (Joel Greenblatt) (%) 2.30
ATHN's ROC (Joel Greenblatt) (%) is ranked higher than
59% of the 2105 Companies
in the Global Health Information Services industry.

( Industry Median: 29.03 vs. ATHN: 2.30 )
ATHN' s 10-Year ROC (Joel Greenblatt) (%) Range
Min: -226.59   Max: 67.03
Current: 2.3

-226.59
67.03
Revenue Growth (3Y)(%) 30.70
ATHN's Revenue Growth (3Y)(%) is ranked higher than
96% of the 1666 Companies
in the Global Health Information Services industry.

( Industry Median: 5.60 vs. ATHN: 30.70 )
ATHN' s 10-Year Revenue Growth (3Y)(%) Range
Min: 0   Max: 31.9
Current: 30.7

0
31.9
EBITDA Growth (3Y)(%) 19.60
ATHN's EBITDA Growth (3Y)(%) is ranked higher than
87% of the 1378 Companies
in the Global Health Information Services industry.

( Industry Median: 7.20 vs. ATHN: 19.60 )
ATHN' s 10-Year EBITDA Growth (3Y)(%) Range
Min: 0   Max: 114.5
Current: 19.6

0
114.5
EPS Growth (3Y)(%) -42.10
ATHN's EPS Growth (3Y)(%) is ranked lower than
123% of the 1261 Companies
in the Global Health Information Services industry.

( Industry Median: 6.90 vs. ATHN: -42.10 )
ATHN' s 10-Year EPS Growth (3Y)(%) Range
Min: 0   Max: 22.8
Current: -42.1

0
22.8
» ATHN's 10-Y Financials

Financials


Revenue & Net Income
Cash & Debt
Oprt. Cash Flow & Free Cash Flow

» Details

Guru Trades

Q1 2014

ATHN Guru Trades in Q1 2014

Ron Baron 445,064 sh (New)
George Soros 2,100 sh (New)
Frank Sands 4,194,760 sh (+24.1%)
Jim Simons 265,950 sh (+22.16%)
Ruane Cunniff Sold Out
Steven Cohen 140,339 sh (-33.15%)
» More
Q2 2014

ATHN Guru Trades in Q2 2014

Ruane Cunniff 200,000 sh (New)
Frank Sands 4,836,281 sh (+15.29%)
Steven Cohen 6,500 sh (unchged)
George Soros Sold Out
Ron Baron 124,851 sh (-71.95%)
Jim Simons 7,500 sh (-97.18%)
» More
Q3 2014

ATHN Guru Trades in Q3 2014

Louis Moore Bacon 15,000 sh (New)
Frank Sands 4,850,197 sh (+0.29%)
Ruane Cunniff 200,000 sh (unchged)
Jim Simons Sold Out
Steven Cohen Sold Out
Ron Baron 116,345 sh (-6.81%)
» More
Q4 2014

ATHN Guru Trades in Q4 2014

Vanguard Health Care Fund 715,400 sh (New)
Ruane Cunniff 200,000 sh (unchged)
Louis Moore Bacon Sold Out
Frank Sands 4,810,009 sh (-0.83%)
Ron Baron 93,730 sh (-19.44%)
» More
» Details

Insider Trades

Latest Guru Trades with ATHN

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Vanguard Health Care Fund 2014-12-31 New Buy0.24%$111.76 - $151.5 $ 123.19-2%715400
Ron Baron 2014-06-30 Reduce -71.95%0.21%$106.84 - $166.19 $ 123.19-5%124851
Frank Sands 2014-06-30 Add 15.29%0.2%$106.84 - $166.19 $ 123.19-5%4836281
Ruane Cunniff 2014-06-30 New Buy0.13%$106.84 - $166.19 $ 123.19-5%200000
George Soros 2014-06-30 Sold Out $106.84 - $166.19 $ 123.19-5%0
Frank Sands 2014-03-31 Add 24.1%0.35%$130 - $204.41 $ 123.19-25%4194760
Ron Baron 2014-03-31 New Buy0.29%$130 - $204.41 $ 123.19-25%445064
Ruane Cunniff 2014-03-31 Sold Out 0.11%$130 - $204.41 $ 123.19-25%0
George Soros 2014-03-31 New Buy$130 - $204.41 $ 123.19-25%2100
Ruane Cunniff 2013-12-31 Reduce -50%0.1%$105.465 - $142.754 $ 123.19-4%150000
Andreas Halvorsen 2013-09-30 Sold Out 0.34%$84.53 - $116.27 $ 123.1914%0
Andreas Halvorsen 2013-06-30 Add 106.34%0.18%$82.93 - $96.45 $ 123.1938%713531
Andreas Halvorsen 2013-03-31 New Buy0.2%$73.29 - $97.822 $ 123.1938%345800
Ruane Cunniff 2012-12-31 New Buy0.17%$57.82 - $88.65 $ 123.1973%300000
Ron Baron 2012-12-31 Sold Out 0.08%$57.82 - $88.65 $ 123.1973%0
Ron Baron 2012-09-30 Reduce -65.03%0.12%$79.05 - $96.64 $ 123.1938%135389
Ruane Cunniff 2012-09-30 Sold Out 0.08%$79.05 - $96.64 $ 123.1938%0
Ruane Cunniff 2012-06-30 Reduce -48%0.07%$70.15 - $86.42 $ 123.1964%130000
Ron Baron 2011-12-31 New Buy0.11%$48.02 - $63.35 $ 123.19120%352845
Ruane Cunniff 2011-12-31 New Buy0.11%$48.02 - $63.35 $ 123.19120%250000
Premium More recent guru trades are included for Premium Members only!!
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Guru Investment Theses on AthenaHealth Inc

Ron Baron Comments on Athenahealth Inc - Jul 28, 2014

Shares of Athenahealth, Inc. (ATHN), a provider of cloud-based software-enabled business services for physicians and other healthcare providers, fell after reports of lower than expected first quarter revenues and earnings. A hedge fund manager also published a short thesis that the company’s long-term margin potential is structurally lower than what many investors believe. We exited the position during the quarter. (Neal Kaufman)

From Ron Baron (Trades, Portfolio)’s Baron Funds Second Quarter 2014 Report.

Check out Ron Baron latest stock trades

Baron Funds Comments on Athenahealth - May 21, 2014

Athenahealth, Inc. (ATHN) provides cloud-based business services for health care providers. The company's flagship offering, athenaCollector, automates and manages billing-related functions for medical practices. We believe athena's offering is unique. All clients operate on a single web-based version of athena's software, which allows each client to benefit immediately from regular updates and the collective experience of other clients. This, in turn, helps improve collections and reduce collection cycles. The company's core addressable market is roughly $36 billion, which represents its potential billings as a percentage of U.S. health care expenditures on physician and clinical services. Management announced plans to enter the hospital market with a new service offering that helps manage transitions of care throughout a health care system. We believe this new offering will expand the size of the company's addressable market and enable it to realize management's vision of becoming the nation's health care information backbone. (Neal Kaufman)





From Baron Funds' first quarter 2014 letter to shareholders.



Check out Ron Baron latest stock trades

Top Ranked Articles about AthenaHealth Inc

Vanguard Health Care Fund Adds 4 Positions to Portfolio
The Vanguard Health Care Fund (Trades, Portfolio) invests in domestic and foreign companies in various aspects of the healthcare industry, such as pharmaceuticals, medical supply, and research companies. Compared to other health care funds, Vanguard tends to be more conservatively positioned and more geographically diverse. Read more...
Ron Baron Comments on Athenahealth Inc
Shares of Athenahealth, Inc. (ATHN), a provider of cloud-based software-enabled business services for physicians and other healthcare providers, fell after reports of lower than expected first quarter revenues and earnings. A hedge fund manager also published a short thesis that the company’s long-term margin potential is structurally lower than what many investors believe. We exited the position during the quarter. (Neal Kaufman) Read more...
Baron Funds Comments on Athenahealth
Athenahealth, Inc. (ATHN) provides cloud-based business services for health care providers. The company's flagship offering, athenaCollector, automates and manages billing-related functions for medical practices. We believe athena's offering is unique. All clients operate on a single web-based version of athena's software, which allows each client to benefit immediately from regular updates and the collective experience of other clients. This, in turn, helps improve collections and reduce collection cycles. The company's core addressable market is roughly $36 billion, which represents its potential billings as a percentage of U.S. health care expenditures on physician and clinical services. Management announced plans to enter the hospital market with a new service offering that helps manage transitions of care throughout a health care system. We believe this new offering will expand the size of the company's addressable market and enable it to realize management's vision of becoming the nation's health care information backbone. (Neal Kaufman) Read more...
Weekly Insider Sells Highlight: ATHN, GILD, JPM, WAG
According to GuruFocus Insider Data, the largest insider sells during the past week were: AthenaHealth Inc, Gilead Sciences Inc, JPMorgan Chase & Co, and Walgreen Company. Read more...

Ratios

vs
industry
vs
history
Forward P/E 90.91
ATHN's Forward P/E is ranked higher than
80% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 0.00 vs. ATHN: 90.91 )
N/A
P/B 10.70
ATHN's P/B is ranked higher than
52% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 3.32 vs. ATHN: 10.70 )
ATHN' s 10-Year P/B Range
Min: 5.56   Max: 19.89
Current: 10.7

5.56
19.89
P/S 6.80
ATHN's P/S is ranked higher than
56% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 2.67 vs. ATHN: 6.80 )
ATHN' s 10-Year P/S Range
Min: 2.06   Max: 12.78
Current: 6.8

2.06
12.78
PFCF 202.30
ATHN's PFCF is ranked higher than
70% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 102.32 vs. ATHN: 202.30 )
ATHN' s 10-Year PFCF Range
Min: 45.36   Max: 304.75
Current: 202.3

45.36
304.75
POCF 34.22
ATHN's POCF is ranked higher than
71% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 28.43 vs. ATHN: 34.22 )
ATHN' s 10-Year POCF Range
Min: 22.87   Max: 106.49
Current: 34.22

22.87
106.49
EV-to-EBIT 931.20
ATHN's EV-to-EBIT is ranked higher than
62% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 36.34 vs. ATHN: 931.20 )
ATHN' s 10-Year EV-to-EBIT Range
Min: -3133.4   Max: 1455.4
Current: 931.2

-3133.4
1455.4
Shiller P/E 332.10
ATHN's Shiller P/E is ranked higher than
76% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 0.00 vs. ATHN: 332.10 )
ATHN' s 10-Year Shiller P/E Range
Min: 201.73   Max: 766.08
Current: 332.1

201.73
766.08
Current Ratio 1.17
ATHN's Current Ratio is ranked higher than
55% of the 2080 Companies
in the Global Health Information Services industry.

( Industry Median: 1.88 vs. ATHN: 1.17 )
ATHN' s 10-Year Current Ratio Range
Min: 0.81   Max: 5.23
Current: 1.17

0.81
5.23
Quick Ratio 1.17
ATHN's Quick Ratio is ranked higher than
57% of the 2080 Companies
in the Global Health Information Services industry.

( Industry Median: 1.77 vs. ATHN: 1.17 )
ATHN' s 10-Year Quick Ratio Range
Min: 0.81   Max: 5.23
Current: 1.17

0.81
5.23
Days Sales Outstanding 52.11
ATHN's Days Sales Outstanding is ranked higher than
82% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 84.50 vs. ATHN: 52.11 )
ATHN' s 10-Year Days Sales Outstanding Range
Min: 47.19   Max: 64.52
Current: 52.11

47.19
64.52

Valuation & Return

vs
industry
vs
history
Price/Tangible Book 105.30
ATHN's Price/Tangible Book is ranked higher than
55% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 8.39 vs. ATHN: 105.30 )
ATHN' s 10-Year Price/Tangible Book Range
Min: 10.72   Max: 68.4
Current: 105.3

10.72
68.4
Price/DCF (Projected) 6.40
ATHN's Price/DCF (Projected) is ranked higher than
74% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 7.56 vs. ATHN: 6.40 )
ATHN' s 10-Year Price/DCF (Projected) Range
Min: 5   Max: 8.78
Current: 6.4

5
8.78
Price/Median PS Value 0.90
ATHN's Price/Median PS Value is ranked higher than
87% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 1.28 vs. ATHN: 0.90 )
ATHN' s 10-Year Price/Median PS Value Range
Min: 0.29   Max: 1.39
Current: 0.9

0.29
1.39
Price/Graham Number 129.70
ATHN's Price/Graham Number is ranked higher than
51% of the 2303 Companies
in the Global Health Information Services industry.

( Industry Median: 16.38 vs. ATHN: 129.70 )
ATHN' s 10-Year Price/Graham Number Range
Min: 2.87   Max: 138.62
Current: 129.7

2.87
138.62
Earnings Yield (Greenblatt) 0.10
ATHN's Earnings Yield (Greenblatt) is ranked lower than
74% of the 2102 Companies
in the Global Health Information Services industry.

( Industry Median: 3.40 vs. ATHN: 0.10 )
ATHN' s 10-Year Earnings Yield (Greenblatt) Range
Min: 0.1   Max: 2.6
Current: 0.1

0.1
2.6
Forward Rate of Return (Yacktman) 23.34
ATHN's Forward Rate of Return (Yacktman) is ranked higher than
88% of the 1125 Companies
in the Global Health Information Services industry.

( Industry Median: 12.92 vs. ATHN: 23.34 )
ATHN' s 10-Year Forward Rate of Return (Yacktman) Range
Min: -1.9   Max: 34.3
Current: 23.34

-1.9
34.3

Business Description

Industry: Application Software » Health Information Services
Compare:CERN, CTRX, MDRX, AH, QSII » details
Traded in other countries:36A.Germany,
AthenaHealth, Inc. was incorporated in Delaware on August 21, 1997, as Athena Healthcare Incorporated. The Company changed its name to athenahealth, Inc. on November 17, 2000. The Company provides cloud-based business services that help medical caregivers collect more revenue and greatly reduce their administrative work burden. It offers a suite of four, seamlessly integrated services: athenaCollector for revenue cycle and practice management; athenaClinicals for electronic health records ("EHR"); athenaCommunicator for automated, live, and online patient communications; and athenaCoordinator for care coordination. The Company also offers subscription-based and sponsored clinical information and decision support services under the Epocrates brand. Via the athenaNet platform, it provides a single instance of cloud-based software to clients; every health care provider across the network always accesses the same continuously updated services. The software is the primary conduit through which the Company shares information among clients, insurance payers, and staff of experts. The Company's customers consist of medical group practices ranging in size throughout the United States of America. The competitors of the Company includes Allscripts-Misys Healthcare Solutions, Inc.; CareCloud Corporation; Cerner Corporation; eClinicalWorks, LLC; Epic Systems Corporation; Greenway Medical Technologies, Inc.; McKesson Corp.; NextGen Healthcare Information Systems, LLC; OptumInsight, Inc.; Practice Fusion, Inc.; SCI Solutions, Inc.; and Vitera Healthcare Solutions, LLC, which operates under the Greenway brand.
» More Articles for ATHN

Headlines

Articles On GuruFocus.com
Vanguard Health Care Fund Adds 4 Positions to Portfolio Feb 05 2015 
Vanguard Health Care Fund New Buys on 2014 Q4 Feb 02 2015 
Growth Opportunities in Software - Baron Funds Newsletter Nov 21 2014 
Ron Baron Comments on Athenahealth Inc Jul 28 2014 
David Einhorn’s Top Stock Picks Show Large Gains Jun 23 2014 
Baron Funds Comments on Athenahealth May 21 2014 
David Einhorn AthenaHealth Short Thesis Presentation May 13 2014 
'Happy' Athena CEO: I messed up when I promised net income growth May 08 2014 
Einhorn: Bernanke Answers 'Frightening' During Dinner Chat May 06 2014 
Weekly Insider Sells Highlight: ATHN, GILD, JPM, WAG Apr 20 2014 

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