Cowen Reiterates $27.75 Price Target for Change Healthcare (NASDAQ:CHNG)

Change Healthcare (NASDAQ:CHNGGet Rating) received a $27.75 target price from analysts at Cowen in a report issued on Monday, Stock Target Advisor reports. Cowen’s price objective suggests a potential upside of 20.86% from the stock’s current price.

Several other research firms also recently issued reports on CHNG. SVB Leerink reaffirmed an “outperform” rating on shares of Change Healthcare in a research note on Thursday, May 26th. William Blair reissued a “market perform” rating on shares of Change Healthcare in a research report on Friday, June 3rd. 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. Credit Suisse Group increased their target price on shares of Change Healthcare from $25.75 to $27.75 and gave the company a “neutral” rating in a research report on Tuesday, May 31st. Finally, Citigroup increased their target price on shares of Change Healthcare from $25.75 to $27.75 and gave the company a “buy” rating in a research report on Wednesday, June 1st. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $27.00.

NASDAQ CHNG traded up $0.51 during trading on Monday, hitting $22.96. 231,953 shares of the company’s stock were exchanged, compared to its average volume of 2,754,552. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.40. The company has a market cap of $7.31 billion, a PE ratio of -127.55, a P/E/G ratio of 1.93 and a beta of 1.12. Change Healthcare has a fifty-two week low of $18.97 and a fifty-two week high of $24.12. The stock’s 50 day moving average price is $23.41 and its two-hundred day moving average price is $21.82.

Change Healthcare (NASDAQ:CHNGGet Rating) last issued its earnings results on Wednesday, May 25th. The company reported $0.39 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.02). The business had revenue of $920.13 million for the quarter, compared to analyst estimates of $902.86 million. Change Healthcare had a positive return on equity of 12.91% and a negative net margin of 1.65%. During the same period in the previous year, the firm posted $0.36 EPS. The firm’s revenue was up 7.6% compared to the same quarter last year. Analysts forecast that Change Healthcare will post 1.48 earnings per share for the current fiscal year.

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its holdings in shares of Change Healthcare by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 21,658,561 shares of the company’s stock worth $472,156,000 after purchasing an additional 234,330 shares in the last quarter. Clarkston Capital Partners LLC lifted its holdings in shares of Change Healthcare by 0.3% in the 1st quarter. Clarkston Capital Partners LLC now owns 18,939,997 shares of the company’s stock worth $412,892,000 after purchasing an additional 53,432 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Change Healthcare by 3.8% in the 1st quarter. BlackRock Inc. now owns 10,443,695 shares of the company’s stock worth $227,673,000 after purchasing an additional 383,042 shares in the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Change Healthcare by 9.8% in the 4th quarter. Alliancebernstein L.P. now owns 10,239,418 shares of the company’s stock worth $218,919,000 after purchasing an additional 914,897 shares in the last quarter. Finally, Boston Partners lifted its holdings in shares of Change Healthcare by 16.3% in the 1st quarter. Boston Partners now owns 7,072,384 shares of the company’s stock worth $155,504,000 after purchasing an additional 989,782 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

About Change Healthcare (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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