Update: At close of trading on Dec. 17, 2013, athenahealth shares were $130.04.
Shares of IT vendor athenahealth dropped more than 14 percent Wednesday after the company's projected 2014 adjusted earnings missed analysts' expectations.
Shares dropped from $130.85 to $111.46 after company officials reported estimating earnings between $0.98 and $1.10 per share in 2014, significantly lower than analysts' expectations of an average of $1.38, according to a MarketWatch report.
Projected total 2014 sales are also lower than expectations. The company said it estimates between $725 million and $755 million in sales next year, lower than analysts' prediction of $764 million, according to the report.
More Articles on the Health IT Market:
8 Recent Health IT Market Stories
Practice Fusion Raises Another $15M
Cerner Partners With Claritas to Integrate Next-Gen Sequence Testing into Healthcare