Change Healthcare (NASDAQ:CHNG) Lowered to Neutral at Piper Sandler

Piper Sandler lowered shares of Change Healthcare (NASDAQ:CHNGGet 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.

Change Healthcare (NASDAQ:CHNGGet Rating) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.25 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.08). The company had revenue of $884.47 million during the quarter, compared to analyst estimates of $890.39 million. Change Healthcare had a negative net margin of 2.20% and a positive return on equity of 12.02%. As a group, sell-side analysts anticipate that Change Healthcare will post 1.03 earnings per share for the current fiscal year.

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

(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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Analyst Recommendations for Change Healthcare (NASDAQ:CHNG)

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