UPDATE: Stifel Reiterates Buy Rating, Raises PT on athenahealth Following Acquisition of RazorInsights

In a report published Thursday, Stifel analyst Steven Rubis reiterated a Buy rating on athenahealth ATHN, and raised the price target from $155.00 to $180.00. In the report, Stifel noted, “athenahealth announced the acquisition of RazorInsights, a cloud-based EHR and financial solutions company serving rural, critical access, and community hospitals. While financial terms of the deal were not disclosed, industry sources estimate the purchase price at roughly $40 million. According to KLAS, RazorInsights represents one of the top vendors within the small and rural hospital market. We note that RazorInsights solutions are deployed across 25 leading healthcare provider organizations in 15 different states. The acquisition provides athenahealth with a platform from which it can establish its beachhead in the inpatient setting. Furthermore, the acquisition should help accelerate the timeline athenahealth will need to gain traction in the inpatient market.” athenahealth closed on Wednesday at $141.19.