Change Healthcare (NASDAQ:CHNG) Sees Strong Trading Volume

Shares of Change Healthcare Inc. (NASDAQ:CHNGGet Rating) saw an uptick in trading volume on Wednesday . 132,629 shares traded hands during mid-day trading, a decline of 94% from the previous session’s volume of 2,247,916 shares.The stock last traded at $27.22 and had previously closed at $27.11.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CHNG. Cowen set a $27.75 target price on Change Healthcare in a report on Monday, June 20th. SVB Leerink reissued an “outperform” rating on shares of Change Healthcare in a report on Thursday, May 26th. Piper Sandler lowered Change Healthcare from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $26.00 to $27.75 in a report on Tuesday. Credit Suisse Group lifted their target price on Change Healthcare from $25.75 to $27.75 and gave the company a “neutral” rating in a report on Tuesday, May 31st. Finally, Truist Financial assumed coverage on Change Healthcare in a report on Wednesday, September 7th. They set a “hold” rating and a $27.75 target price for the company. Five analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Change Healthcare currently has an average rating of “Hold” and a consensus price target of $27.75.

Change Healthcare Stock Up 0.2 %

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 has a market capitalization of $8.95 billion, a PE ratio of -113.58, a PEG ratio of 3.30 and a beta of 1.02. The company has a 50 day moving average price of $24.75 and a 200-day moving average price of $23.61.

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 the consensus estimate of $0.33 by ($0.08). The firm had revenue of $884.47 million during the quarter, compared to analysts’ expectations of $890.39 million. Change Healthcare had a positive return on equity of 12.02% and a negative net margin of 2.20%. As a group, analysts forecast that Change Healthcare Inc. will post 1.03 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Change Healthcare

Several hedge funds have recently added to or reduced their stakes in CHNG. First Horizon Advisors Inc. bought a new stake in Change Healthcare in the second quarter worth $33,000. Meeder Asset Management Inc. bought a new stake in Change Healthcare in the first quarter worth $36,000. Captrust Financial Advisors boosted its holdings 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 acquiring an additional 1,208 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in Change Healthcare in the second quarter worth $82,000. Finally, C M Bidwell & Associates Ltd. bought a new stake in Change Healthcare in the first quarter worth $90,000. 91.47% of the stock is owned by 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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