Piper Sandler lowered shares of Change Healthcare (NASDAQ:CHNG – Get Rating) from an overweight rating to a neutral rating in a research report sent to investors on Tuesday, MarketBeat Ratings reports. The firm currently has $27.75 target price on the stock, up from their prior target price of $26.00.
Several other equities analysts also recently commented on CHNG. Truist Financial started coverage on shares of Change Healthcare in a research note on Wednesday, September 7th. They issued a hold rating and a $27.75 price objective for the company. Cowen set a $27.75 price objective on shares of Change Healthcare in a research note on Monday, June 20th. William Blair reissued a market perform rating on shares of Change Healthcare in a research note on Friday, June 3rd. Credit Suisse Group upped their price target on shares of Change Healthcare from $25.75 to $27.75 and gave the company a neutral rating in a report on Tuesday, May 31st. Finally, Citigroup upped their price objective on shares of Change Healthcare from $25.75 to $27.75 and gave the stock a buy rating in a report on Wednesday, June 1st. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Hold and a consensus target price of $27.75.
Change Healthcare Trading Up 6.4 %
NASDAQ CHNG opened at $27.11 on Tuesday. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 1.36. The company has a market capitalization of $8.90 billion, a PE ratio of -112.96, a price-to-earnings-growth ratio of 3.10 and a beta of 1.02. Change Healthcare has a 1-year low of $18.97 and a 1-year high of $27.27. The firm’s fifty day simple moving average is $24.58 and its 200-day simple moving average is $23.54.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. First Horizon Advisors Inc. acquired a new position in Change Healthcare in the second quarter valued at $33,000. Meeder Asset Management Inc. acquired a new stake in shares of Change Healthcare during the 1st quarter worth approximately $36,000. Captrust Financial Advisors raised its position in shares of Change Healthcare by 65.5% during the 2nd quarter. Captrust Financial Advisors now owns 3,053 shares of the company’s stock worth $70,000 after purchasing an additional 1,208 shares during the period. State of Alaska Department of Revenue acquired a new stake in Change Healthcare in the 2nd quarter valued at approximately $82,000. Finally, C M Bidwell & Associates Ltd. acquired a new stake in Change Healthcare in the 1st quarter valued at approximately $90,000. 91.47% of the stock is currently owned by hedge funds and other institutional investors.
Change Healthcare Company Profile
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.
- Get a free copy of the StockNews.com research report on Change Healthcare (CHNG)
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