Athenahealth (ATHN) Stock Slumps, CFO to Step Down
NEW YORK (TheStreet) -- Shares of Athenahealth (ATHN) - Get Report are sliding 3.13% to $125.21 on heavy trading volume on Friday afternoon as the healthcare services provider said CFO Kristi Matus will step down effective May 31.
Matus will pursue other opportunities, according to a statement from the Watertown, MA-based company released after yesterday's market close.
She will be succeeded by current VP and controller Karl Stubelis.
Athenahealth also said Matus' decision to leave was prompted by the split of her two primary areas of responsibility, CFO and chief administrative officer.
About 1.25 million of the company's shares changed hands so far today compared to its average volume of 376,691 shares per day.
Separately, TheStreet Ratings Team has a "Hold" rating with a score of C on the stock.
The primary factors that have impacted the rating are mixed. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures and impressive record of earnings per share growth.
However, the team also finds weaknesses including premium valuation and weak operating cash flow.
Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
You can view the full analysis from the report here: ATHN
