athenahealth, Inc. (NASDAQ:ATHN)

CAPS Rating: 2 out of 5

The Company is a provider of internet-based business services for physician practices.

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Member Avatar BenYoe2 (< 20) Submitted: 3/14/2014 2:44:47 PM : Outperform Start Price: $177.43 ATHN Score: -26.08

sweetspot

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Member Avatar TMFHelical (98.66) Submitted: 10/21/2013 11:06:45 AM : Outperform Start Price: $139.72 ATHN Score: -11.84

Late getting this back on the CAPS scorecard, though I did buy it before the end of quarter burst. Company should do well from here as the second round of meaningful use criteria are being met, and the penalty phase of the HITECH acts encouragement for establishing EMRs is on the horizon (but will likely be delayed a bit).

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Member Avatar TMFTypeoh (80.54) Submitted: 9/2/2013 4:45:12 PM : Outperform Start Price: $106.85 ATHN Score: +11.81

Good business model, good management, good momentum.

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Member Avatar jjiijjii (< 20) Submitted: 8/30/2013 5:33:45 AM : Outperform Start Price: $106.87 ATHN Score: +11.29

ATHN gaining new contracts. PEG is a stratospheric 4.

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Member Avatar TMFInnovator (46.79) Submitted: 8/23/2013 10:06:34 AM : Outperform Start Price: $109.92 ATHN Score: +8.78

Along with Cerner, ATHN should benefit in the digitization of healthcare records.

Athena is more focused on small practices, rather than larger hospitals. Although the deals are smaller, they are less complex and easier to demonstrate the benefits. Athena's customers took in ~9% more cash after using their Clinicals, Communicator, and Coordinator systems to automate payments and maximize government incentives. This allows for an impressive 97% customer retention rate.

Once the systems are sold and installed, ATHN just has to manage the customer relationship. This allows for increasing operating margins - which have grown from 4% in 2007 to 8.2% last year. Once ATHN gets its SG&A under control (they are spending rather liberally right now), I would look for margins to reach the mid-teens.

One thing that I really liked from the conference call was that Athena has passed Cerner's Interoperability Certification. What this means is that ATHN and CERN can exchange financial and administrative data between their systems. I interpret this that Cerner is preparing to focus on the larger hospitals, and is content to let Athena take the smaller practices. Or in other words, there can be multiple winners in this coming healthcare revolution.

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Member Avatar mbivy (94.90) Submitted: 5/13/2013 1:31:39 PM : Outperform Start Price: $84.97 ATHN Score: +42.95

Expect an acceleration of doctors implementing EMR as they realize they will not be able to compete in the marketplace without EMR.

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Member Avatar CarlosDK (< 20) Submitted: 2/6/2013 9:00:14 AM : Underperform Start Price: $87.31 ATHN Score: -28.79

Extreme overvalued EVS

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Member Avatar Gumpster (98.56) Submitted: 1/24/2013 3:19:05 PM : Outperform Start Price: $89.18 ATHN Score: +24.69

Should continue leveraging its strong cloud-based and outsourced offerings as the industry adapts these technologies. Would have been smarter to buy on recent dip, but I still am okay buying position here given medium-term opportunities.

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Member Avatar TMFHumbleServant (97.38) Submitted: 10/20/2012 5:53:29 PM : Outperform Start Price: $73.33 ATHN Score: +51.65

The healthcare digitization trend is still going strong and athenahealth is helping lead the way. I like this one over the long haul from here.

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Member Avatar aacole (74.84) Submitted: 12/29/2011 4:25:27 PM : Outperform Start Price: $49.90 ATHN Score: +119.68

Small medical practitioners need tools to save money and be more efficient and this company has them.

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Member Avatar TMFmd19 (95.84) Submitted: 11/28/2011 3:48:29 PM : Outperform Start Price: $55.75 ATHN Score: +82.79

Nice play in taking health care records into the 21st century. They target the smaller docs which need the most help.

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Member Avatar LynchBurnham (< 20) Submitted: 3/29/2011 12:14:19 PM : Underperform Start Price: $44.92 ATHN Score: -155.73

Athena will announce today or tomorrow that they are purchasing MBNA's former corporate retreat -- a virtual Xanadu. MBNA spent over $130mm building it and now J Bush (CEO) wants to go into the real estate business! What business does a healthcare IT company have speculating in RE or managing a hotel complex?

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Member Avatar ju006he (< 20) Submitted: 2/22/2011 7:51:02 AM : Underperform Start Price: $47.80 ATHN Score: -139.44

Too little liquidity and overplayed.

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Member Avatar tenmiles (99.84) Submitted: 10/22/2010 10:59:52 AM : Underperform Start Price: $37.16 ATHN Score: -202.09

Company has had a nice run but technically now appears a bit ahead of itself. Likely to face increased competition from QSII, MDRX, etc. going forward - seller at $38

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Member Avatar Mcotter (< 20) Submitted: 10/15/2010 11:40:05 PM : Outperform Start Price: $31.66 ATHN Score: +264.05

they have the right model to succeed.

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Member Avatar sneezyfosheezy (50.33) Submitted: 7/16/2010 3:57:51 AM : Outperform Start Price: $23.88 ATHN Score: +389.41

new phr push

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Member Avatar EclecticRecluse (78.54) Submitted: 7/6/2010 10:56:09 AM : Underperform Start Price: $24.51 ATHN Score: -366.47

Overestimated Earnings Growth

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Member Avatar geezer33 (50.80) Submitted: 5/4/2010 2:28:40 PM : Outperform Start Price: $28.08 ATHN Score: +316.55

Good field but temporarily depressed IMHO

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Member Avatar thismarketrox (99.65) Submitted: 3/16/2009 4:24:57 PM : Outperform Start Price: $26.93 ATHN Score: +246.66

EMR's are pretty much in-the-money for the next 5 years.

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Member Avatar kodiakcap (90.70) Submitted: 2/26/2009 6:22:50 AM : Outperform Start Price: $35.17 ATHN Score: +135.65

earnings

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