The Advisory Board Co. (NASDAQ:ABCO) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.
According to Zacks, “The Advisory Board Company provides best practices research and analysis to the health care industry, focusing on business strategy, operations and general management issues. The Company provides its best practices research and analysis through discrete annual programs to a membership of more than 2,000 hospitals, health systems, pharmaceutical and biotech companies, health care insurers, and medical device companies in the United States. Each program provides members with best practices research reports, executive education and other supporting research services. “
Several other brokerages also recently weighed in on ABCO. Barclays PLC lifted their price objective on shares of The Advisory Board from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Friday, September 30th. Canaccord Genuity set a $50.00 price objective on shares of The Advisory Board and gave the company a “buy” rating in a research report on Wednesday, September 28th. William Blair reiterated an “outperform” rating on shares of The Advisory Board in a research report on Tuesday, September 27th. Credit Suisse Group AG reiterated a “buy” rating and issued a $50.00 price objective on shares of The Advisory Board in a research report on Friday, September 16th. Finally, Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $49.00 price objective (up from $45.00) on shares of The Advisory Board in a research report on Wednesday, September 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eleven have issued a buy rating to the company’s stock. The Advisory Board currently has an average rating of “Buy” and a consensus target price of $44.07.
Shares of The Advisory Board (NASDAQ:ABCO) opened at 43.52 on Monday. The stock has a 50 day moving average of $43.24 and a 200 day moving average of $37.57. The firm’s market capitalization is $1.75 billion. The Advisory Board has a 52-week low of $18.87 and a 52-week high of $54.84.
The Advisory Board (NASDAQ:ABCO) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.13. The firm had revenue of $198.40 million for the quarter, compared to the consensus estimate of $196.49 million. The Advisory Board had a negative net margin of 10.21% and a positive return on equity of 11.59%. The Advisory Board’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. On average, analysts predict that The Advisory Board will post $1.86 EPS for the current fiscal year.
In other news, CEO Robert W. Musslewhite sold 5,500 shares of The Advisory Board stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $43.89, for a total value of $241,395.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cormac F. Miller sold 750 shares of The Advisory Board stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $43.15, for a total transaction of $32,362.50. Following the completion of the transaction, the insider now directly owns 18,237 shares in the company, valued at $786,926.55. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in The Advisory Board by 16.2% in the second quarter. BlackRock Inc. now owns 3,263 shares of the company’s stock valued at $116,000 after buying an additional 455 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of The Advisory Board by 111.7% in the third quarter. BNP Paribas Arbitrage SA now owns 3,428 shares of the company’s stock worth $153,000 after buying an additional 1,809 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of The Advisory Board by 13.8% in the second quarter. Teacher Retirement System of Texas now owns 5,856 shares of the company’s stock worth $207,000 after buying an additional 708 shares during the last quarter. Atria Investments LLC bought a new position in shares of The Advisory Board during the third quarter worth approximately $231,000. Finally, Princeton Alpha Management LP bought a new position in shares of The Advisory Board during the second quarter worth approximately $236,000.
The Advisory Board Company Profile
The Advisory Board Company is a provider of software and solutions to the healthcare and higher education industries. The Company’s healthcare programs address a range of clinical and business issues, including physician alignment and engagement, network management and growth strategy, value-based care and population health, revenue cycle, clinical operations and supply chain.
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