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athenahealth (ATHN): No Really, CFO Change Is Not A Negative - Piper Jaffray

May 20, 2016 9:25 AM EDT
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Price: $9.59 --0%

Rating Summary:
    6 Buy, 22 Hold, 2 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 13 | Down: 11 | New: 11
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Piper Jaffray analyst, Sean Wieland, noted that athenahealth (NASDAQ: ATHN) shocked investors on Thursday after the close by announcing the resignation of Kristi Matus, who held both the Chief Financial Officer and Chief Administrative Officer roles. The company chose to separate these two roles Kristi held so that Kristi could focus on being a CFO, and a new hire could focus on fostering the unique, innovative culture at athenahealth.

The analyst believes Kristi viewed this move as a demotion, which is unfortunate. Karl Stubelis, VP and Corporate Controller, is taking over and has the confidence of the analyst. The analyst specifically stated that he thinks the move wasn't related to the financials or management friction. No change to Overweight rating or $174 PT.

For an analyst ratings summary and ratings history on athenahealth click here. For more ratings news on athenahealth click here.

Shares of athenahealth closed at $129.25 yesterday.



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Piper Jaffray, Sean Wieland