Today’s Research Reports on Stocks to Watch: International Flavors & Fragrances and athenahealth

NEW YORK, NY / ACCESSWIRE / May 8, 2018 / Athenahealth shares were skyrocketing on Monday and almost touched the stock’s 52-week high after it was revealed that hedge fund Elliott Management has proposed an unsolicited offer to take the company private. Shares of International Flavors and Fragrances weren’t doing as well as they came crashing down to close over 10%. The company agreed to buy Israeli-based Frutarom for $6.4 billion which many on Wall Street fear is a risky move for the company.

RDI Initiates Coverage on:

International Flavors & Fragrances Inc.
https://rdinvesting.com/news/?ticker=IFF

athenahealth, Inc.
https://rdinvesting.com/news/?ticker=ATHN

International Flavors & Fragrances Inc. shares closed down almost 11% on Monday and hit a new low of $126.08 during intra-day trading. The company announced first quarter 2018 earnings reporting 12% revenue growth, 34% operating income growth, and 12% EPS growth compared to the prior-year period. The company saw its shares plummet despite good results as it agreed to buy rival Frutarom Industries of Israel, for $7.1 billion in a cash and stock deal. The deal will give International Flavors & Fragrances a footing into the natural foods arena. The company will pay Frutarom investors $71.19 a share in cash and 0.249 shares of International Flavors and Fragrances for every Frutarom share that they own. The company believes the acquisition of Frutarom will help it “create a global leader in taste, scent and nutrition.” So why the share price decline? Investors are worried the expensive transaction may not be worth it. Plus according to food analyst Brett Hundley of Vertical Group however, the deal is “expensive and risky.”

Access RDI’s International Flavors & Fragrances Inc. Research Report at:
https://rdinvesting.com/news/?ticker=IFF

athenahealth, Inc. shares closed up 16.39% on about 4.3 million shares traded. The stock saw its shares climb after Paul Singer’s Elliott Management put in an unsolicited all-cash bid for the company that values it at $160 a share. The offer is about a 27% premium to the stock’s closing price of $126.08 a share this past Friday. According to Elliott Management, it has had an “extensive private engagement” with Athenahealth’s management and board during the past year, and believes that athenahealth can’t make the changes it needs while it remains a public company. Athenahealth confirmed that it had received an unsolicited bid from Elliott Management and that it will review it. The hedge fund said, “Unfortunately, we are faced now with the stark reality that athenahealth as a public-company investment, despite all of its promise, has not worked for many years, is not working today and will not work in the future.”

Access RDI’s athenahealth, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=ATHN

Our Actionable Research on International Flavors & Fragrances Inc. (NYSE: IFF) and athenahealth, Inc. (NASDAQ: ATHN) can be downloaded free of charge at Research Driven Investing.

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