Change Healthcare Inc. Expected to Post Q2 2021 Earnings of $0.36 Per Share (NASDAQ:CHNG)

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Change Healthcare Inc. (NASDAQ:CHNG) – Stock analysts at Piper Jaffray Companies issued their Q2 2021 earnings per share estimates for Change Healthcare in a report released on Wednesday, August 14th. Piper Jaffray Companies analyst S. Wieland forecasts that the company will post earnings per share of $0.36 for the quarter. Piper Jaffray Companies has a “Overweight” rating and a $18.50 price target on the stock. Piper Jaffray Companies also issued estimates for Change Healthcare’s Q3 2021 earnings at $0.38 EPS and Q4 2021 earnings at $0.39 EPS.

CHNG has been the topic of several other reports. JPMorgan Chase & Co. began coverage on Change Healthcare in a research report on Monday, July 22nd. They issued an “overweight” rating and a $18.00 target price on the stock. SunTrust Banks began coverage on Change Healthcare in a research report on Monday, July 22nd. They issued a “buy” rating and a $21.00 target price on the stock. Svb Leerink began coverage on Change Healthcare in a research report on Monday, July 22nd. They issued an “outperform” rating and a $20.00 target price on the stock. Wells Fargo & Co began coverage on Change Healthcare in a research report on Monday, July 22nd. They issued a “market perform” rating on the stock. Finally, Cantor Fitzgerald began coverage on Change Healthcare in a research report on Monday, July 22nd. They issued an “overweight” rating and a $20.00 target price on the stock. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $19.04.

Shares of CHNG stock opened at $15.06 on Monday. The business’s fifty day simple moving average is $14.07. Change Healthcare has a 12-month low of $12.04 and a 12-month high of $15.50.

Change Healthcare (NASDAQ:CHNG) last issued its quarterly earnings results on Tuesday, August 13th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.18. The business had revenue of $814.00 million for the quarter, compared to analyst estimates of $795.66 million. The firm’s revenue was down 1.1% compared to the same quarter last year.

A number of institutional investors and hedge funds have recently made changes to their positions in CHNG. Blackstone Group Inc acquired a new stake in Change Healthcare during the 2nd quarter worth about $870,456,000. Point72 Asset Management L.P. acquired a new stake in Change Healthcare during the 2nd quarter worth about $35,144,000. JPMorgan Chase & Co. acquired a new stake in Change Healthcare during the 2nd quarter worth about $35,483,000. Citadel Advisors LLC acquired a new stake in Change Healthcare during the 2nd quarter worth about $29,897,000. Finally, Magnetar Financial LLC acquired a new stake in Change Healthcare during the 2nd quarter worth about $25,550,000. 11.36% of the stock is currently owned by institutional investors.

In related news, CEO Crescenzo Neil E. De purchased 75,000 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were bought at an average cost of $14.17 per share, with a total value of $1,062,750.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Bansi Nagji purchased 5,000 shares of the business’s stock in a transaction on Monday, July 1st. The shares were bought at an average cost of $13.00 per share, for a total transaction of $65,000.00. The disclosure for this purchase can be found here. Over the last three months, insiders purchased 151,000 shares of company stock worth $2,079,950.

About Change Healthcare

Change Healthcare Inc, an independent healthcare technology platform, provides data and analytics-driven solutions to improve clinical, financial, and patient engagement outcomes in the United States healthcare system. It operates in three segments: Software and Analytics, Network Solutions, and Technology-Enabled Services.

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Earnings History and Estimates for Change Healthcare (NASDAQ:CHNG)

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