Change Healthcare (NASDAQ:CHNG) Earns Market Perform Rating from William Blair

Posted by on Jun 7th, 2022

Change Healthcare (NASDAQ:CHNG – Get Rating)‘s stock had its “market perform” rating reiterated by William Blair in a note issued to investors on Friday, Zacks.com reports.

Other equities research analysts also recently issued reports about the stock. Piper Sandler reissued a “buy” rating and set a $26.00 target price on shares of Change Healthcare in a research report on Tuesday, April 26th. SVB Leerink reissued an “outperform” rating on shares of Change Healthcare in a research report on Thursday, May 26th. Citigroup boosted their target price on shares of Change Healthcare from $25.75 to $27.75 and gave the stock a “buy” rating in a research report on Wednesday, June 1st. Finally, Credit Suisse Group upped their price objective on shares of Change Healthcare from $25.75 to $27.75 and gave the stock a “neutral” rating in a research report on Tuesday, May 31st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $25.85.

Shares of NASDAQ:CHNG opened at $23.90 on Friday. The company’s 50 day simple moving average is $23.32 and its 200 day simple moving average is $21.66. The stock has a market capitalization of $7.61 billion, a price-to-earnings ratio of -132.77, a price-to-earnings-growth ratio of 1.99 and a beta of 1.12. The company has a debt-to-equity ratio of 1.40, a current ratio of 1.22 and a quick ratio of 1.22. Change Healthcare has a 1 year low of $18.97 and a 1 year high of $24.12.

Change Healthcare (NASDAQ:CHNG – Get Rating) last posted its earnings results on Wednesday, May 25th. The company reported $0.39 earnings per share for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.02). The company had revenue of $920.13 million for the quarter, compared to the consensus estimate of $902.86 million. Change Healthcare had a positive return on equity of 12.91% and a negative net margin of 1.65%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. As a group, analysts anticipate that Change Healthcare will post 1.5 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of CHNG. Meeder Asset Management Inc. purchased a new position in Change Healthcare in the first quarter valued at about $36,000. C M Bidwell & Associates Ltd. purchased a new position in Change Healthcare in the first quarter valued at about $90,000. Franklin Resources Inc. boosted its stake in Change Healthcare by 94.9% in the third quarter. Franklin Resources Inc. now owns 4,928 shares of the company’s stock valued at $103,000 after acquiring an additional 2,400 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in Change Healthcare by 40.8% in the first quarter. Parkside Financial Bank & Trust now owns 4,858 shares of the company’s stock valued at $105,000 after acquiring an additional 1,407 shares during the last quarter. Finally, Metropolitan Life Insurance Co NY purchased a new position in Change Healthcare in the fourth quarter valued at about $107,000. 96.09% of the stock is owned by institutional investors and hedge funds.

Change Healthcare Company Profile (Get Rating)

Change Healthcare Inc, an independent healthcare technology company, provides data and analytics-driven solutions to enhance clinical, financial, administrative, and patient engagement outcomes in the United States healthcare system. It operates through three segments: Software and Analytics, Network Solutions, and Technology-Enabled Services.

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