Change Healthcare (NASDAQ:CHNG) Sets New 52-Week High at $27.40

Shares of Change Healthcare Inc. (NASDAQ:CHNGGet Rating) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $27.40 and last traded at $27.26, with a volume of 520596 shares changing hands. The stock had previously closed at $25.47.

Analyst Ratings Changes

CHNG has been the subject of several analyst reports. SVB Leerink reaffirmed an “outperform” rating on shares of Change Healthcare in a research note on Thursday, May 26th. William Blair reaffirmed a “market perform” rating on shares of Change Healthcare in a research note on Friday, June 3rd. Truist Financial initiated 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. Piper Sandler lowered shares of Change Healthcare from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $26.00 to $27.75 in a research note on Tuesday. Finally, Citigroup cut shares of Change Healthcare from a “buy” rating to a “neutral” rating and set a $27.75 price target for the company. in a report on Tuesday. Five analysts have rated the stock with a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $27.75.

Change Healthcare Price Performance

The company has a debt-to-equity ratio of 1.36, a current ratio of 1.23 and a quick ratio of 1.23. The stock’s fifty day simple moving average is $24.66 and its 200-day simple moving average is $23.57. The company has a market capitalization of $8.93 billion, a P/E ratio of -113.33, a PEG ratio of 3.10 and a beta of 1.02.

Change Healthcare (NASDAQ:CHNGGet Rating) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.08). The firm had revenue of $884.47 million for the quarter, compared to the consensus estimate of $890.39 million. Change Healthcare had a negative net margin of 2.20% and a positive return on equity of 12.02%. On average, equities analysts forecast that Change Healthcare Inc. will post 1.03 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in CHNG. Verition Fund Management LLC raised its position in Change Healthcare by 102.0% in the second quarter. Verition Fund Management LLC now owns 235,627 shares of the company’s stock worth $5,434,000 after purchasing an additional 118,958 shares in the last quarter. Captrust Financial Advisors raised its position in Change Healthcare by 65.5% in the second quarter. Captrust Financial Advisors now owns 3,053 shares of the company’s stock worth $70,000 after purchasing an additional 1,208 shares in the last quarter. Legal & General Group Plc raised its position in Change Healthcare by 2.6% in the second quarter. Legal & General Group Plc now owns 222,074 shares of the company’s stock worth $5,121,000 after purchasing an additional 5,540 shares in the last quarter. ExodusPoint Capital Management LP raised its position in Change Healthcare by 88.0% in the second quarter. ExodusPoint Capital Management LP now owns 79,969 shares of the company’s stock worth $1,844,000 after purchasing an additional 37,425 shares in the last quarter. Finally, Walleye Capital LLC acquired a new position in Change Healthcare in the second quarter worth about $511,000. Institutional investors and hedge funds own 91.47% of the company’s stock.

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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