Brean Murray initiates coverage on athenahealth (ATHN) with a Buy
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Brean Murray Initiates Coverage on athenahealth (Nasdaq: ATHN) with a Buy.
"Unlike the other companies in our coverage universe, athenahealth is not dependent upon perpetual software license sales. The company's percentage of collections business model is not vulnerable to a precipitous decline as the market begins to saturate. We believe the company’s athenaCollector offering is an attractive solution for small and midsized practices looking to automate the billing and collection process. While still trailing the leading ambulatory EMR offerings, we believe that athenaClinicals has closed the functionality gap to the point that it is a compelling EMR alternative for its Collector base. The shares are not cheap, however, rading at 51x our 2009 EP $0.62. However, relative to its growth rate the shares appear more reasonably valued coverage with a Buy rating."
To see more analyst ratings on ATHN Click Here.
athenahealth, Inc. (athena) is a provider of Internet-based business services for physician practices.
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